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Ethereum will use around 99.95% less energy post merge

blog.ethereum.org

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Re: Ethereum will use around 99.95% less energy post merge

#21

Post by tux3 »

gruez wrote: post #6
sergioisidoro wrote: post #3

Earlier quoted context omitted.

Current system is no different, as the hash power is related to how many computers you can afford to buy. This doesn't fix the problem but it does fix the environmental impact.

The difference is that with PoW you constantly have to do "stuff" (ie. buying equipment, running datacenters) or get left behind. PoS on the other hand you can just sit on your ass and wait for the $$$ to roll in.

Yes and no. Keeping up with the day to day details is something you delegate at some point. PoW is also "just" an investment, with extra steps to set things up.

Re: Ethereum will use around 99.95% less energy post merge

#23

Post by narush »

gruez wrote: post #6
sergioisidoro wrote: post #3

Earlier quoted context omitted.

Current system is no different, as the hash power is related to how many computers you can afford to buy. This doesn't fix the problem but it does fix the environmental impact.

The difference is that with PoW you constantly have to do "stuff" (ie. buying equipment, running datacenters) or get left behind. PoS on the other hand you can just sit on your ass and wait for the $$$ to roll in.

This is not the case. In Ethereum's PoS model, you put value at risk when you sign up to be a validator. You have to lock funds up to play a part in consensus.

This means that if you start acting maliciously, or even just not fulfilling your responsibilities (e.g. you let your computer go offline), then you are punished for it (depending on the severity of your offense, obviously).

Aka, you can't just wait for the money to roll in. You have to run a node, you have to verify blocks, and you have to make sure you're acting in the best interest of the network + keeping things running smoothly.

Re: Ethereum will use around 99.95% less energy post merge

#24

Post by narush »

sp332 wrote: post #5
focom wrote: post #2

So with PoS, we recreate a system where a few rich pool have decision over the network. Can someone enlighten me on how this is different from the current fiat system?

Is it different from the current PoW system?

Yep! It's a new chain as well - that will eventually consume the old Ethereum PoW chain :)

Re: Ethereum will use around 99.95% less energy post merge

#26

Post by bpodgursky »

h4kor wrote: post #13

> Several teams of engineers are working overtime to ensure that The Merge arrives as soon as possible, and without compromising on safety. Overworking your engineers will most definitely lead to compromises. But good to see that Ethereum came to their senses and are serious about reducing the environmental impact they have.

PoS has been the goal of Ethereum for a long, long time.

I don't know the technicals of why the migration has been gradual, but the destination has never really been in doubt.

Re: Ethereum will use around 99.95% less energy post merge

#27

Post by lmohseni »

secondcoming wrote: post #11
xiphias2 wrote: post #8

Earlier quoted context omitted.

While I myself stay with Bitcoin, Ethereum still has lots of advantages compared to the fiat system: it's still open source, and people can still validate the rules (although that full validation is extremely hard). Also the current fiat system is debt based, which means that the vast majority of money is printed by banks and the money printing power is at the highest ranking sales person, and hidden.

Have you ever actually used an Ethereum in real life outside of price speculation?

I’ve loaded up some eth into an ethereum based browser and knocked around their web. It’s interesting because the type of site where you normally have to sign in (“banking”, news, etc) you don’t have to sign in because every interaction is predicated through your wallet. It’s as if your username were identical to your public key.

However as a speculative instrument eth and Bitcoin are not my cup of tea.

Re: Ethereum will use around 99.95% less energy post merge

#28

Post by gspr »

focom wrote: post #2

So with PoS, we recreate a system where a few rich pool have decision over the network. Can someone enlighten me on how this is different from the current fiat system?

No, they can't enlighten you. They've bought into a cult, and if they started considering the fundamental question of how this is better than fiat currency, the cognitive dissonance would hurt.
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