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Ethereum Plans to Cut Its Absurd Energy Consumption by 99%


The Ethereum community hopes to cut energy requirements for a transaction by 99%.

The Ethereum Foundation, and the broader open source movement devoted to advancing the cryptocurrency bitcoin, plan to field-test an overhaul of Ethereum's code.

Credit: Blood Bros.

The Ethereum Foundation, and the broader open source movement devoted to advancing the cryptocurrency bitcoin, this year plan to field-test an overhaul of Ethereum's code.

The typical Ethereum transaction consumes more power than an average U.S. household uses in a day, but by the end of 2019, the goal is for the new code to complete transactions using just 1% of that amount of energy.

Zaki Manian, who is advising the cryptocurrency upstart Cosmos, said Ethereum's development process means multiple coders and organizations must collaborate in the open, converge on specifications, invent all of the technology to implement them, and make them work together seamlessly.

He said, "It is by far the most technically ambitious open community project that has ever been attempted."

From IEEE Spectrum
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Abstracts Copyright © 2019 SmithBucklin, Washington, DC, USA


 

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