Tuesday, November 29, 2022
 

Ethereum Merge: Digiconomist Founder Doubts PoS Sustainability

  • Founder of Digiconomist expressed doubts about sustainability in the light of proof-of-stake.
  • The crypto community casted his statement as the regular hate for the crypto industry.
  • It is officially one day and 19 hours to the much-anticipated Ethereum Merge.

One of the most prominent critics of cryptocurrency energy, Alex de Vries, has expressed skepticism about the energy efficiency of Ethereum upon migrating to proof-of-stake (PoS) consensus.

De Vries is the founder of Digiconomist, a website that tracks carbon emissions from cryptocurrencies. An article on Gizmodo quoted him saying:

I wouldn’t say moving to proof-of-stake completely solves all sustainability challenges related to crypto — I always say to people, if we didn’t have proof-of-work and we just had proof of stake today, we would probably be pretty frustrated about the amount of inefficiency that it introduces.

The Twitter crypto community reacted to De Vries’ statement from various perspectives. Ethereum founder Vitalik Buterin commented sarcastically: “Well jeez, inefficiencies from replication of computation sound horrible. If only the next major roadmap item after the merge was focused on mitigating that exact issue.”

However, an independent Ethereum educator argued that it was never about the high energy use but rather an argument they used to disguise the fact that they hate cryptocurrency.

Regardless of the comments on PoS sustainability, pundits believe that if the Ethereum Merge goes live successfully, it could eliminate more than 99% of the network’s carbon footprint. The current carbon footprint of the Ethereum network, according to Digiconomist, is roughly the size of Finland’s consumption in a year.

In related news, it is officially one day and 19 hours to the much-anticipated Ethereum Merge. While the Merge will occur around block 15,537,351, estimated to be Thursday, September 15, 2022, it remains barely 11,000 blocks to hit the Merge threshold, according to Ethernode’s live status update. The live update also shows that 84% of Ethereum’s clients are Merge-ready.

  • Founder of Digiconomist expressed doubts about sustainability in the light of proof-of-stake.
  • The crypto community casted his statement as the regular hate for the crypto industry.
  • It is officially one day and 19 hours to the much-anticipated Ethereum Merge.

One of the most prominent critics of cryptocurrency energy, Alex de Vries, has expressed skepticism about the energy efficiency of Ethereum upon migrating to proof-of-stake (PoS) consensus.

De Vries is the founder of Digiconomist, a website that tracks carbon emissions from cryptocurrencies. An article on Gizmodo quoted him saying:

I wouldn’t say moving to proof-of-stake completely solves all sustainability challenges related to crypto — I always say to people, if we didn’t have proof-of-work and we just had proof of stake today, we would probably be pretty frustrated about the amount of inefficiency that it introduces.

The Twitter crypto community reacted to De Vries’ statement from various perspectives. Ethereum founder Vitalik Buterin commented sarcastically: “Well jeez, inefficiencies from replication of computation sound horrible. If only the next major roadmap item after the merge was focused on mitigating that exact issue.”

However, an independent Ethereum educator argued that it was never about the high energy use but rather an argument they used to disguise the fact that they hate cryptocurrency.

Regardless of the comments on PoS sustainability, pundits believe that if the Ethereum Merge goes live successfully, it could eliminate more than 99% of the network’s carbon footprint. The current carbon footprint of the Ethereum network, according to Digiconomist, is roughly the size of Finland’s consumption in a year.

In related news, it is officially one day and 19 hours to the much-anticipated Ethereum Merge. While the Merge will occur around block 15,537,351, estimated to be Thursday, September 15, 2022, it remains barely 11,000 blocks to hit the Merge threshold, according to Ethernode’s live status update. The live update also shows that 84% of Ethereum’s clients are Merge-ready.

 

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