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this post was submitted on 04 Dec 2023
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Technology
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Sorry, I’ve not kept up to date with crypto, but wasn’t ethereum due to move from computational mining to staking? Wouldn’t that be a lot more efficient, or is that not a thing yet?
ethereum moved to proof of stake sometime back. BTC and I think a few other (very) minor cryptos still use proof of work which is where the significant power usage goes. Not something I track but I believe the vast majority of non-BTC cyptos are proof of stake or something not proof of work anyway and BTC is the only one that uses proof of work and is used at all. That might not exactly be technically correct but it is in the practical realm.