Vitalik about Ethereum Transition

Saturday, 22 May 2021
18:40 PM (WIB)

Ethereum is in the process of moving from proof-of-work to a proof-of-stake consensus algorithm, through the forthcoming transition to Ethereum 2.0. It will dramatically decrease Ethereum’s energy consumption, with Nimbus estimating proof-of-stake to be up to 99% more energy efficient. Buterin emphasized the importance of the transition, noting that: “We go from consuming the same energy as a medium-sized country to consuming the same energy as a village.” Buterin added that the power consumption of Bitcoin mining and the hardware required could see increasing calls from its community to either switch to proof-of-stake or move toward a hybrid model. “If Bitcoin sticks with its technology exactly as it is today, there’s a big risk it will get left behind.”

Stay tuned on Ethereum .……

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