Ethereum developers are scrapping that model and moving to a greener system for processing transactions, called proof of stake. Instead of mining, Ether owners use tokens as collateral to validate transactions, “staking” them to the network in exchange for a yield paid in Ether tokens.

1. Ethereum’s Greener
System Eliminates The
Energy-intensive (POW)
Mining Model

2. "The Merge is the most significant upgrade in crypto
history," "It's similar to changing the engines on an airplane
in mid-flight.
Years in the making, The Merge
may be crypto's answer to critics
who say the industry is a
colossal waste of energy.

3. Developers are scrapping that model and moving to a much
greener system for processing transactions, called proof of stake.
Ideally, the aim is to turn Ethereum
into the crypto internet-a base layer
for apps, financial services, and
many more digital assets like NFTs.

4. Highly energy-intensive, requiring a massive amount of
computing work and electricity.
Ethereum was built on the same
system as Bitcoin, and is an energy
hog, using roughly the same amount
of electricity in a year as countries
like the Netherlands.

5. Mining leaders for both Bitcoin and Ether, said they were studying
how to adapt Ether mining machines to other tokens or projects.
The shift should eliminate Ether mining.
It will cut Ethereum’s energy usage by
more than 99%, according to the
Ethereum Foundation, sharply reducing
the network’s carbon footprint.

6. The Merge should also reduce the newly minted Ether produced
yearly. And developers are planning more upgrades over the next few
years to increase Ethereum’s throughput and lower its usage fees.
Ideally, the aim is to turn Ethereum
into the crypto internet—a base
layer for apps, financial services,
and many more digital assets like
NFTs.

7. The stakes are high because so much of the crypto industry
has a stake in its performance.
The upgrade could be a boon to
companies like Coinbase. The exchange
is developing a service that makes it easy
for investors to stake their Ether, with
Coinbase taking a 25% cut of any income
generated.

8. Find Out More At https://ampraider.com/