With an ever-increasing focus on sustainable energy due to changes in the global environment, this report takes a look at energy consumption in the cryptocurrency space. Our focus begins with the second largest blockchain in cryptocurrency, Ethereum. In this article, we take a look at the motivations behind Ethereum’s transition from proof of work to proof of stake (PoS) and the possible advantages and disadvantages that may arise from this transition.
The report then expands laterally into the PoS realm, looking at some of the more popular blockchains and their various hardware requirements. Finally, we dig into innovations that have already been deployed within the industry such as Layer-2 scaling solutions, alternative consensus mechanisms and carbon offsets that the newer protocols may be turning towards.
Read the full report: Energy Consumption in Crypto: An Overview