Ethereum Is Cutting Emissions By 99%.. Can Bitcoin Keep Up?
1 year ago
Ethereum
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Ethereum Is Cutting Emissions By 99%.. Can Bitcoin Keep Up?
Welcome back to The Crypto Merchant, today on the channel we are going to talk about Cryptocurrency Ethereum is about to cut its emissions by 99 per cent � a huge shake-up that will challenge Bitcoin + other related news. Amid the continuous noise about cryptocurrencies, it's often hard to pick out what really matters. However this month, if all goes to plan, the energy-hungry digital sector will undergo its biggest shake-up in years. Ethereum, the world's second largest cryptocurrency, is on Tuesday expected to start a technology changeover which, once complete, should cause its carbon emissions to plummet by 99 percent.
The rapid growth in cryptocurrencies in recent years has been staggering. Unfortunately, so too has been their contribution to climate change, due to the enormous amount of electricity used by computers that manage the buying and selling of crypto coins. Take, for example, the world's biggest cryptocurrency, Bitcoin. At a time when the world is desperately trying to reduce energy consumption, Bitcoin uses more energy each year than medium-sized nations such as Argentina. If the Ethereum switch succeeds, Bitcoin and other cryptocurrencies will be under immense pressure to deal with this problem. Why are cryptocurrencies so polluting? Cryptocurrencies are digital currency systems in which people make direct online payments to each other. Unlike traditional currencies, cryptocurrencies are not managed from a single location such as a central bank. Instead, they're managed by a "blockchain": a decentralized global network of high-powered computers. These computers are known as "miners". Meanwhile, What About Bitcoin Performance After Ethereum Merge? In an aberration to normal market conditions in cryptocurrencies, the last few weeks saw Ethereum dominating Bitcoin in market share. Thanks to the hype around Ethereum Merge, Bitcoin�s (BTC) share of crypto market value dropped recently. Watch till the end to know more details about Cryptocurrency Ethereum is about to cut its emissions by 99 per cent � a huge shake-up that will challenge Bitcoin and other related news.
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