Is Power Consumption a Reason for Ethereum Merge?
Power Consumption Vs Ethereum Merge According to a recent assessment by the White House Office of Science and Technology Policy, yearly power usage for cryptocurrencies would exceed that of individual nations such as Argentina or Australia by August 2022. Researchers who have researched cryptocurrencies are concerned about their massive energy consumption. The majority of the energy is needed for mining, which is a computationally difficult process for confirming blockchain transactions while also distributing new currencies as a reward to competing miners. Crypto mining favors well-funded groups that can assemble a large number of specialized computers and provide them with energy as inexpensively as feasible. This can have unintended effects. Prior to the drop in cryptocurrency values earlier this year,...