Tag: Ethereum merge impact on Vietnam’s energy use

Understanding the Ethereum Merge The Ethereum Merge, completed in September 2022, transitioned Ethereum from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. This shift aimed to reduce energy consumption significantly, addressing growing concerns about the carbon footprint of blockchain technology. Notably, the Ethereum network estimates a reduction of around 99.95% in energy consumption post-merge.…