aster.cloud aster.cloud
  • /
  • Platforms
    • Public Cloud
    • On-Premise
    • Hybrid Cloud
    • Data
  • Architecture
    • Design
    • Solutions
    • Enterprise
  • Engineering
    • Automation
    • Software Engineering
    • Project Management
    • DevOps
  • Programming
    • Learning
  • Tools
  • About
  • /
  • Platforms
    • Public Cloud
    • On-Premise
    • Hybrid Cloud
    • Data
  • Architecture
    • Design
    • Solutions
    • Enterprise
  • Engineering
    • Automation
    • Software Engineering
    • Project Management
    • DevOps
  • Programming
    • Learning
  • Tools
  • About
aster.cloud aster.cloud
  • /
  • Platforms
    • Public Cloud
    • On-Premise
    • Hybrid Cloud
    • Data
  • Architecture
    • Design
    • Solutions
    • Enterprise
  • Engineering
    • Automation
    • Software Engineering
    • Project Management
    • DevOps
  • Programming
    • Learning
  • Tools
  • About
  • Software
  • Technology

Ethereum Blockchain Slashes Energy Use With ‘Merge’ Software Upgrade

  • Ackley Wyndam
  • September 28, 2022
  • 2 minute read

The Ethereum blockchain has undergone a major software upgrade, drastically reducing its energy usage, its inventor and co-founder tweeted on Thursday.

The new system will use 99.95% less energy, according to the Ethereum Foundation. The upgrade, which changes how transactions occur and how ether tokens are created, could give Ethereum a major advantage as it seeks to surpass rival blockchain bitcoin.


Partner with aster.cloud
for your next big idea.
Let us know here.



From our partners:

CITI.IO :: Business. Institutions. Society. Global Political Economy.
CYBERPOGO.COM :: For the Arts, Sciences, and Technology.
DADAHACKS.COM :: Parenting For The Rest Of Us.
ZEDISTA.COM :: Entertainment. Sports. Culture. Escape.
TAKUMAKU.COM :: For The Hearth And Home.
ASTER.CLOUD :: From The Cloud And Beyond.
LIWAIWAI.COM :: Intelligence, Inside and Outside.
GLOBALCLOUDPLATFORMS.COM :: For The World's Computing Needs.
FIREGULAMAN.COM :: For The Fire In The Belly Of The Coder.
ASTERCASTER.COM :: Supra Astra. Beyond The Stars.
BARTDAY.COM :: Prosperity For Everyone.

“We believe this is a significant moment that will lead to ETH outperforming the broader crypto market for some time,” said Richard Usher, head of over-the-counter trading at London-based crypto firm BCB Group.

Most blockchains devour large amounts of energy and have come under fire from environmentalists and some investors. Before the software upgrade, which is known as the Merge, a single transaction on Ethereum used as much power as an average U.S. household uses in a week, according to researcher Digiconomist.

READ MORE: [button style=’accent’ url=’https://aster.cloud/2019/10/17/blockchain-is-a-better-technology-not-a-perfect-one/’ target=’_blank’ arrow=’true’ fullwidth=’true’]BLOCKCHAIN IS A BETTER TECHNOLOGY, NOT A PERFECT ONE[/button]

With the software upgrade, Ethereum has moved from a “proof of work” system, in which energy-hungry computers validate transactions by solving complex maths problems, to a “proof of stake” system, where individuals and companies act as validators, using their ether as collateral, to win newly created tokens.

“Happy merge all,” inventor Vitalik Buterin said in a tweet. “This is a big moment for the Ethereum ecosystem.”

Ethereum was born in 2013. Proponents say it will form the backbone of much of the widely hyped but still unrealised “Web3” vision of an internet where crypto technology takes centre stage in applications and commerce.

Read More  5 Data Trends That Will Take Your Business Forward In 2021, From Google Cloud Leaders

It powers platforms involving crypto offshoots such as decentralised finance and non-fungible tokens, and is used in so-called “smart contracts” – blockchain-based covenants seen as having use in traditional finance and other industries.

The cryptocurrency ether was little changed at $1,608 as of 0857 GMT.

Investors bet ahead of Merge that the upgrade would bolster the price of the ether token. Ether has gained about 85% from its June lows, outperforming larger rival bitcoin’s 15% gain. Overall, however, cryptocurrencies have suffered this year, with bitcoin and ether both down by around 55%.

Ether took market share from bitcoin ahead of the Merge, and now accounts for about a fifth of the $1 trillion crypto market. Bitcoin’s share has dropped to 39.1% from this year’s peak of 47.5% in mid-June.

In addition to energy consumption, high costs and slow transaction times are key issues facing the Ethereum network. Merge will not immediately tackle these problems, though some analysts say it lays the ground for Ethereum’s expansion.

The bolstering of Ethereum’s environmental, social and corporate governance (ESG) credentials “would be good for regulatory-driven institutions that want to start to explore the Ethereum ecosystem,” said Marc Arjoon, ethereum research analyst at digital asset manager CoinShares.

Source: Reuters


For enquiries, product placements, sponsorships, and collaborations, connect with us at [email protected]. We'd love to hear from you!

Our humans need coffee too! Your support is highly appreciated, thank you!

Ackley Wyndam

Related Topics
  • Bitcoin
  • Blockchain
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Ethereum
You May Also Like
View Post
  • Computing
  • Multi-Cloud
  • Technology

Pure Accelerate 2025: All the news and updates live from Las Vegas

  • June 18, 2025
View Post
  • Computing
  • Multi-Cloud
  • Technology

‘This was a very purposeful strategy’: Pure Storage unveils Enterprise Data Cloud in bid to unify data storage, management

  • June 18, 2025
View Post
  • Computing
  • Multi-Cloud
  • Technology

What is cloud bursting?

  • June 18, 2025
View Post
  • Computing
  • Multi-Cloud
  • Technology

There’s a ‘cloud reset’ underway, and VMware Cloud Foundation 9.0 is a chance for Broadcom to pounce on it

  • June 17, 2025
View Post
  • Computing
  • Multi-Cloud
  • Technology

What is confidential computing?

  • June 17, 2025
View Post
  • Computing
  • Multi-Cloud
  • Technology

Oracle adds xAI Grok models to OCI

  • June 17, 2025
View Post
  • Computing
  • Multi-Cloud
  • Technology

Fine-tune your storage-as-a-service approach

  • June 16, 2025
View Post
  • Technology

Advanced audio dialog and generation with Gemini 2.5

  • June 15, 2025

Stay Connected!
LATEST
  • 1
    Pure Accelerate 2025: All the news and updates live from Las Vegas
    • June 18, 2025
  • 2
    ‘This was a very purposeful strategy’: Pure Storage unveils Enterprise Data Cloud in bid to unify data storage, management
    • June 18, 2025
  • What is cloud bursting?
    • June 18, 2025
  • 4
    There’s a ‘cloud reset’ underway, and VMware Cloud Foundation 9.0 is a chance for Broadcom to pounce on it
    • June 17, 2025
  • What is confidential computing?
    • June 17, 2025
  • Oracle adds xAI Grok models to OCI
    • June 17, 2025
  • Fine-tune your storage-as-a-service approach
    • June 16, 2025
  • 8
    Advanced audio dialog and generation with Gemini 2.5
    • June 15, 2025
  • 9
    A Father’s Day Gift for Every Pop and Papa
    • June 13, 2025
  • 10
    Global cloud spending might be booming, but AWS is trailing Microsoft and Google
    • June 13, 2025
about
Hello World!

We are aster.cloud. We’re created by programmers for programmers.

Our site aims to provide guides, programming tips, reviews, and interesting materials for tech people and those who want to learn in general.

We would like to hear from you.

If you have any feedback, enquiries, or sponsorship request, kindly reach out to us at:

[email protected]
Most Popular
  • Google Cloud, Cloudflare struck by widespread outages
    • June 12, 2025
  • What is PC as a service (PCaaS)?
    • June 12, 2025
  • 3
    Crayon targets mid-market gains with expanded Google Cloud partnership
    • June 10, 2025
  • By the numbers: Use AI to fill the IT skills gap
    • June 11, 2025
  • 5
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 11, 2025
  • /
  • Technology
  • Tools
  • About
  • Contact Us

Input your search keywords and press Enter.