Reports: Ethereum Carbon Footprint Fell More Than Expected After The Merge.
Cited to the Crypto Carbon Rating Institute, the Ethereum Merge has cut Ethereum’s energy needs more than expected before by around 99.99%.
The Energy Has Been Reduce More Than Anticipated
As a result of Ethereum’s long-anticipated merge, which was completed overnight, its overall energy consumption has been drastically reduced.
Ethereum’s current energy consumption has been reduced by 99.99% since the merger, according to a report commissioned by the Crypto Carbon Ratings Institute (CCRI) by Ethereum-centric software company ConsenSys.
In addition, it also reported the blockchain’s carbon footprint has fallen down as well at 99.99%.
Previously, according to the Ethereum Foundation, the merger would reduce energy consumption by 99.95%, based on estimates from Digiconomist, a site run by noted crypto critic Alex de Vries.
However, Digiconomist claimed this week that the actual number is more likely up to 99.98%.
The Electricity Usage Has Dropped As Well
In comparison to 23 million megawatt hours before the merger, Ethereum now draws only 2,600 megawatt hours annually, based on the CCI report.
The EPA has estimated Ethereum’s CO2 emissions to be less than the combined total of 100 average American homes. Ethereum’s estimated annual CO2 emissions have fallen from over 11 million tons to just under 870.
Yesterday, CCRI co-founder and CEO Uli Gallersdörfer said Ethereum’s “green credentials” were now comparable to other energy-efficient blockchain networks that followed a proof-of-stake consensus model rather than transitioned to one as Ethereum did.
While Ethereum has reportedly shed most of its environmental impact, many of the people who secured the network and earned ETH rewards have simply moved to mining cryptocurrencies on other networks instead.
Many Ethereum mining pools which pool resources from various users have said that instead of mining on Ethereum’s mainnet, they will instead use EthereumPoW (ETHW).