"This perspective highlights how Ethereum, the second largest crypto asset by market capitalization, likely succeeded in significantly reducing its power demand through an event called"This event occurred on September 15, 2022, and consisted of Ethereum's proof-of-work mining mechanism being replaced with an alternative known as proof of stake.
In return, companies and volunteers who contributed their computers to the network's operation received new cryptocurrency coins. The likelihood of producing new coins increased as they performed more labor.According to the paper, this prompted companies to build enormous data centers with computers operating nonstop, frequently on energy sourced from fossil fuels.
"The Bitcoin community has been very anti-change - but the Ethereum community has shown that despite concerns and resistance," said the paper's author Alex De Vries, a data science and economics researcher at Vrije Universiteit Amsterdam in the Netherlands.
Not gonna happen.