A study conducted by Cambridge University’s Centre for Alternative Finance (CCAF) has found that the Ethereum network during its lifespan has used as much energy as Switzerland.
According to the CCAF, the Ethereum network’s energy consumption came in at a total of 58.26 Terawatt hours (TWh) between 2015 and the date of the Merge – the network’s transition from Proof-of-Work to the Proof-of-Stake consensus mechanism – in September 2022…
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