The Merge
ethereum.org
The Merge
1–10 of 414 posts
Re: The Merge
#2Poor miners.
/s
Re: The Merge
#3Curious: will it be more energy efficient?
Re: The Merge
#4Curious: will it be more energy efficient?
Quote
The Merge will reduce Ethereum's energy consumption by ~99.95%.
Re: The Merge
#5> The Merge will reduce Ethereum's energy consumption by ~99.95%.
That's something Bitcoin needs ... or even better get rid of it altogether.
Re: The Merge
#6> The Merge will reduce Ethereum's energy consumption by ~99.95%. That's something Bitcoin needs ... or even better get rid of it altogether. https://ccaf.io/cbeci/index https://digiconomist.net/bitcoin-energy-consumption/
Proof of work is the only way to get acceptable security properties for a monetary system. Proof of stake suffers from the "nothing at stake" problem, leading to grinding attacks etc.
Re: The Merge
#7Quote from the blog linked:
>The target date is September 15, 2022, but this estimate might have even a week of error.
Re: The Merge
#8Curious: will it be more energy efficient?
GPU based mining of ETH will turn off, literally, in 15s (one block). But the thing is, it will just move to other coins, for now. Once those are not as profitable, things will rebalance as people shut off their GPUs.
Future, ETH will grow with power requirements too... just a lot more slowly... ASICs for zero knowledge are coming, which will create a bit of an energy race. Staking will always be increasing... which will require compute and power.
At the end of the day, overall, the existing power usage won't actually go away... it will just get moved to other things. Always remember that power companies are incentivized to sell their power to the highest bidder...
Re: The Merge
#9> The Merge will reduce Ethereum's energy consumption by ~99.95%. That's something Bitcoin needs ... or even better get rid of it altogether. https://ccaf.io/cbeci/index https://digiconomist.net/bitcoin-energy-consumption/
Bitcoin is never going to change from PoW... That's the point of the system, Bitcoin is unchangable, unlike Ethereum.
But you are free to create your own PoS cryptocurrency. If some PoS system offers the same security features as Bitcoin, people will just switch from Bitcoin to that.