They're moving toward PoS, which should help with that: https://ethereum.org/en/developers/docs/consensus-mechanisms...

They are talking about POS in ethereum since years.

The recent activation of the beacon chain (and ether staking on it) means that they're committed to proof of stake now. All currently staked ether would be stranded otherwise.

https://ethereum.org/en/eth2/docking/

Yeah, duh, it's not like it's a small project:

https://twitter.com/VitalikButerin/status/133392262085774540...

It's pretty bad that Bitcoin still hasn't started working on it.

And now the PoS chain has already launched and been working great. Next step is just to move the PoW chain to it. But they are definitely going slowly and safely. And it is definitely a slow process. :(

The v2 POS is live, but the complete migration of the v1 chain will take one or two years: https://ethereum.org/en/eth2/

Their mainnet PoS network went live last december. The aim is to turn off PoW next year.

Ethereum is already transitioning to proof-of-stake which has a number of benefits including much lower power usage. I'm so tired of people equating bitcoin with all cryptocurrencies.

Ethereum is supposedly changing over to proof of stake, but it's been a years long process

Love that username! XD

Yes, Ethereum has been working towards several long-tail projects for years. I think it's more important to distinguish that nothing good or important has come of Ethereum though, and that it is NOT money, and it is not a safe currency. The blockchain is fraught with front-ran txs, the mining is very centralized, and all projects atop ETH suffer dependency on it's success. The blockchain is growing very large which leads to further centralization on very expensive customized equipment. DeFi is a buzzword that means little but "super alpha experimental money leveraging tools" and financial instruments on the cutting edge. Ethereum is Dave & Busters tokens in comparison to Bitcoin being real money.

> more important to distinguish that nothing good or important has come of Ethereum though

I mean, Ethereum has the second largest marketcap of all cryptocurrencies and it feels like 80% of the research & development either comes from Ethereum directly or close-by ecosystems.

To say that Ethereum is Dave & Busters tokens when compared to Bitcoin is funny, since every single cryptocurrency is magic internet money anyway.

Right now it has >$5 billion staked and >100,000 validators on the PoS network. What remains is to transition the rest of the network and eliminate miners, which is a relatively simple process.

>eliminate miners Yes please. Ive been trying for weeks to buy a gpu.

Come on - you’d say the same thing about the freeway that plowed through some wonderful neighborhoods and blights us with noise and pollution. It’s all good. Cars are going electric, Ethereum is going to become efficient - problem solved. /s

Yes. Ethereum 2.0 "promises" to fix most of them though. We'll see.

Not once Proof of Stake is adopted next year (hopefully).

Worse as it is specifically designed to run on GPUs.

They would like to switch to proof of stake and plan to do so next year.