Just 137 crypto miners use 2.3% of total U.S. power

Re:Just 137 crypto miners use 2.3% of total U.S. power by fromMars on Friday February 09, 2024 @11:37AM (#39316685)

What happened with Ethereum's proof of stake? Have there been successful alternatives that eliminate the need for mining?

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Re:Just 137 crypto miners use 2.3% of total U.S. power by patriksvensson on Friday February 09, 2024 @12:06PM (#39317199)

It's running proof of stake, successfully for over 512 days!

Uses validators instead of mining, the power footprint of the ENTIRE network was reduced by 99.995%.

Crypto isn't power inefficient, BITCOIN MINING is power inefficient.

Can't wait for the typewriter (Bitcoin) to be replaced by the computer (Ethereum).

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Re:Just 137 crypto miners use 2.3% of total U.S. power by almenon on Friday February 09, 2024 @11:49AM (#39316913)

Ethereum switched to proof of stake a while ago. So yes. Hardcore crypto fans don't like it because theoretically it could be subject to the 51% attack. Personally, Ethereum is big enough where

A) I don't think that attack is likely and B) the efficiency gains are worth the risk

Disclaimer: I have Ethereum so i benefit from other people buying it. I do honestly think it's better for the environment.

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Re:Just 137 crypto miners use 2.3% of total U.S. power by FabHK on Friday February 09, 2024 @12:01PM (#39317122)

PoS instead of PoW is about 1000x more efficient, meaning that instead of being about 1,000,000,000x more wasteful than the work it effectively does it's only about 1,000,000x more wasteful.

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Re:Just 137 crypto miners use 2.3% of total U.S. power by cwbriscoe on Friday February 09, 2024 @11:47AM (#39316880)

Ethereum is using proof of stake now.

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