Ethereum’s imminent shift to the ‘proof-of-stake’ method looks set to intensify climate pressure on cryptocurrency leader bitcoin. — Reuters
LOS ANGELES: Ethereum, the blockchain underpinning the world’s second-largest crypto token ether, is poised for a software upgrade that will slash the amount of energy it uses – a step that could increase pressure on bitcoin to take similar climate-friendly action.
The software switch, known as “the merge”, comes amid growing debate over the environmental impact of crypto mining in the United States, with green groups saying its use of fossil fuels undermines efforts to cut planet-heating emissions.
Already a subscriber? Log in.
Save 30% and win Bosch appliances! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
