Ethereum: second biggest cryptocurrency to cut energy use by over 99%, but the industry still has a long way to go
Ethereum: second biggest cryptocurrency to cut energy use by over 99%, but the industry still has a long way to go
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Climate Change
The most important cryptocurrency event in years is about to begin – and the biggest windfall goes to the planet
Ethereum, the world’s second largest cryptocurrency, is on Tuesday expected to start a technology changeover which, once complete, should cause its carbon emissions to plummet by 90%. The rapid growth in cryptocurrencies in recent years has been staggering. Unfortunately, so too has been their contribution to climate change, due to the enormous amount of electricity used by computers that manage the buying and selling of crypto coins.
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Climate change: why tech companies must address emissions caused by streaming and scrolling
Technology companies have been having a difficult year. The increased cost of living is turning people away from streaming, cryptocurrencies are faltering, Amazon has raised its prime membership costs, as has Twitter for its premium subscription model Twitter Blue. The latter’s ongoing legal wranglings with Elon Musk have also called the platform’s valuation and future product offering into question.
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