Ethereum significantly reduces energy consumption. It’s a step in the right direction for a segment that’s still pulling off a nice series of pans.
The second cryptocurrency behind Bitcoin is changing green. As part of an event called “Merge”, Ethereum gives up miningthe computer generated process Crazy energy expenditures. We cannot but welcome this choice. At a time when individuals and companies must reduce their energy consumption, The cryptocurrency sector can no longer continue to avoid heated debates about its environmental impact.
It will be objected that the real aim of the developers of this cryptocurrency is elsewhere: the “merger” aims first to gradually upgrade the network, in order to accommodate more users and allow more transactions than today. Thus, the current communication about reducing the environmental impact of Ethereum evokes, in certain aspects, Great green wash.
Thus, the current communication about reducing the environmental impact of Ethereum evokes, in certain aspects, a beautiful process of greenwashing.
However, the result is very real: Ethereum will be much less power consuming than before. no thing. With a capitalization of around 200 billion euros and strong activity, this cryptocurrency is already the second largest in the market after Bitcoin. Hence the environmental impact of its technological choice is significant. Hopefully this shift will lead to others in its wake.. On the bitcoin side, experiments are underway around an alternative technology, the Lightning Network, which should reduce its impact on the environment.
These steps in the right direction can contribute to improving the sulfuric picture of the sector. But They should not make investors forget that cryptocurrencies are unregulated and risky assets. Regulators are still advising individuals not to put their money into cryptocurrencies. Scams are still numerous. some successful platforms, like celsius, always risking the money of its users. The recent environmental awareness of the crypto world should be welcomed and encouraged, but it won’t magically make those cumbersome pools disappear.