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Bangkok Post
Bangkok Post
Business

Ethereum upgrade slashes energy use by 99%

Ethereum Vitalik Buterin United States Crypto Merge blockchain Bitcoin
(Reuters File Photo)

A major software upgrade to the Ethereum blockchain aimed at drastically reducing its energy usage has been completed, Vitalik Buterin, Ethereum inventor and co-founder said on Thursday.

The upgrade, known as the “Merge”, essentially eliminates the grossly wasteful practice of “mining” crypto tokens. The new system will use 99.95% less energy, according to the Ethereum Foundation. To its proponents, the upgrade represents a major advantage as Ethereum seeks to surpass rival bitcoin.

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