Ethereum’s massive energy consumption comes from miners, who are an integral part of the network because they validate transactions and secure the network.
In order to verify transactions, node operators run the transactions independently and broadcast new blocks, making sure they are valid.
First, it makes sure that there is a cost associated with mining in the form of energy expenditure, which might drive away some dishonest miners.
Miners are required to solve a random computational puzzle faster than any other miner, which creates energy expenditure issues.
While transitioning from PoW has always been a fundamental goal of Ethereum, there are some concerns related to the consequences of such a move.
Nevertheless, Ethereum is now moving toward a greener future with the upcoming PoS mechanism, which removes the need for puzzle-solving.
Validators will do the same job as miners, except that they stake ETH as collateral instead of expending assets in the form of computational work.
Meanwhile, Ethereum is expected to reduce its energy consumption by 99.95% following this transition.
However, it is worth noting that Bitcoin mining is increasingly moving towards a greener future.
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