The developer predicted a drop in energy consumption by 99.95% after Ethereum failure from Pow

Ethereum blockchain maintenance costs can be reduced 2000 times after the transition from Proof-hour to Proof-OF-Stake. This assessment was cited by the developer ETH2 Karl Bikheizen.

By my (Very conservative) Calculations, Ethereum Will See a Greater than ~ 99.95% Reduction in Energy Use Post Merge.

According to the specialist, the second version of the Ethereum protocol is currently operating 140,592 validators or 87,897 – if you exclude the services of stakeing and exchanges.

According to the gross calculations of Bikheisen, the energy consumption of the Beacon Chain is 2.62 MW, including 1.64 MW falls on independent stakers.

The first figure is the equivalent of the cost of a small city in the United States for 2100 houses. In other words, it is not correct to compare it with megacities, individual subjects or states as a whole, which is typical for Proof-OF-WORK.

The developer noted that in the case of Proof-OF-STAKE, the security of the network increases as the price of the token itself rises, while the electricity cost remains unchanged. This does not happen in Proof-OF-Work, where there is a close positive correlation between the hashReit and the price.

The leading developer of ETH2 Danny Ryan for Bloomberg cited even more optimistic estimates than Bikheisen: savings will be 10,000x, not 2000x.

“I will be happy when the transition will take place. One of the biggest problems will be solved “, – commented Vitalik Buterin.

He expressed the hope that the changes would occur by the end of the year. According to skeptics, it is more realistic to focus on the first half of 2022.

“By uniting Proof-OF-Stake and the growing ecosystem Defi, Ethereum will continue to select the market share of Bitcoin“, – said the founder of Pantera Capital Dan Morhad.

Earlier, Buterin predicted the lag of digital gold without increasing its energy efficiency.

Recall that the co -founder of Ethereum criticized the plan of Ilon Mask on the scaling of Dogecoin.