The Ethereum blockchain has successfully reduced its carbon footprint by over 99.99% through a transition from the Proof of Work to a Proof of Stake consensus mechanism, according to a report by CCRI. This historic upgrade has positioned Ethereum as a sustainable technology for future growth. The reduction in electricity consumption has led to a significant decrease in CO2 emissions. The Merge, which represents an engineering feat, was seamlessly carried out without any downtime, setting an example for other industry overhauls. The transition to Proof of Stake is part of a plan to make Ethereum more sustainable and secure.
| Signal | Change | 10y horizon | Driving force |
|---|---|---|---|
| Ethereum Blockchain reduces carbon footprint by 99.99% | Transition from Proof of Work to Proof of Stake | Increased sustainability and growth potential | Collective action to improve public good and reduce emissions |