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  • Writer's pictureGustavo Bernal Torres

The World's Second Biggest Cryptocurrency Just Got a Lot Greener

Ethereum, the world's second most valuable cryptocurrency, has completed a massive software upgrade that its backers claim will slash its carbon footprint.

  • The long-awaited revamp, which is known as "The Merge," will reduce ethereum's energy consumption by nearly 99.95%. The co-founder said that the upgrade will "reduce worldwide electricity consumption by 0.2%."

  • Earlier this month, Digiconomist said that the power saved as a result of the upgrade would "likely be equivalent to the electrical energy consumption of a country like Portugal."It could also become the "final nail in the coffin" for bitcoin's transaction mechanism.



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