Ethereum founder Merge will reduce worldwide electricity consumption by 02’

With the completion of the major upgrade to its software, the Ethereum (ETH) ecosystem is expected to become a lot greener, as guaranteed by its co-founder Vitalik Buterin and the non-profit Ethereum Foundation. Ethereum has stressed the importance of the Merge upgrade, which marks the network’s transition from the Proof-of-Work (PoW) to the Proof-of-Stake (PoS). After the Merge, the total energy consumed by Ethereum to secure the network now amounts to nearly 0.01 TWh/yr. Prior to the Merge, the platform used about 112 TWh/yr, according to the organization’s data.