The ethereum blockchain is set to introduce changes to its technology that could significantly reduce its energy use. At present, blockchains use vast quantities of energy, mainly through the production of digital signatures that protect them from attack through a process known as “proof of work”. An alternative “proof of stake” process, which validates blockchains on the basis of monetary deposits, is more energy efficient and could be adopted by ethereum as early as weekly.
The ethereum blockchain is set to introduce changes to its technology that could significantly reduce its energy use. At present, blockchains use vast quantities of energy, mainly through the production of digital signatures that protect them from attack through a process known as “proof of work”. An alternative “proof of stake” process, which validates blockchains on the basis of monetary deposits, is more energy efficient and could be adopted by ethereum as early as the end of this year.