While the Ethereum network is counting the days for its Merge, one of the most important events in history, it is said that the energy gained after Merge is strong enough to be enough for a country like Finland for 1 year.
The long-awaited Merge will make radical changes to the Ethereum network. Together with Ethereum Merge, the network will take a big and important step forward from the Proof of Work consensus to Proof of Stake. This historical event, which will take place in a few days according to the difficulty level in the network, has managed to attract everyone’s attention.
What is Merge’s Contribution to Ethereum?
Looking at the blog post on the Ethereum Foundation; The current total energy consumption of Ethereum mining appears to be 112 TWh/year. Its carbon emission rates are 53TWh/year, almost equal to Singapore’s. The move from Proof of Work to Proof of Stake is expected to reduce Ethereum’s energy use by 99 percent, which by one estimate is enough to power a country like Finland for the year.
In addition to the energy advantage of Merge, the benefit for investors is that the Ethereum network will turn into an interest-paying asset, such as bonds or deposits, after Merge. This situation is predicted by the circles that it could attract hedge funds, asset managers and wealthy individuals who have so far been outside of crypto.
Finally, in the past weeks, Ethereum successfully completed the Bellatrix update and started counting the days to Merge. Merge is expected to take place in the next few days, once the desired difficulty level has been reached in the network.
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