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Is Crypto Finally Dead?
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this post was submitted on 19 Jun 2023
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Technology
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Correct me if I'm wrong, but since ETH moved to a proof of stake model rather than proof of work (i.e. "mining"), isn't its environmental footprint now a fraction of the wasteful behemoth it was previously?
(Though I 100% agree given the 'gas fees' (transaction costs), it's still absolutely useless as an actual currency.)
Yes, you can now run an Ethereum validator from a Raspberry Pi
Not recommended though, RPIs aren't really suited for production, plus I think only Nimbus runs well on RPIs?
I think he's confusing a validator with a node. You can easily run a node on a Pi.
Ah that would be make sense, but most people wouldn't see the point in running a node. People automatically think of "mining" or "validator"
You're right about the environmental footprint - proof of stake dropped the energy consumption by 99.95%
Ether (ETH) was never intended to serve as a digital currency. it was only meant to be the fuel or incentive for computational tasks on the Ethereum network. An L2 like Optimism or Arbitrum runs on top of Ethereum and facilitates transactions that are significantly faster (tens of thousands of transactions per second), for a fraction of the cost (pennies or fractions of pennies)