Looking Forward to a Greener Ethereum in 2022

This article is part of our On the Radar 2022 series.

By all accounts, Ethereum had a great year.

The price of Ether rose 400% in 2021, assets locked in DeFi soared 12x to $250B, and network users paid nearly $10B in fees.

However, the increased network activity in 2021 saw Ethereum’s annual energy consumption skyrocket past 100TWh, putting it on par with Kazakhstan.

(Source: <a href="https://digiconomist.net/ethereum-energy-consumption/" rel="nofollow noopener" target="_blank" data-ylk="slk:Digiconomist" class="link rapid-noclick-resp">Digiconomist</a>)

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Crypto, and specifically Proof-of-Work (PoW) blockchains like Bitcoin and Ethereum, have been criticised for their…

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