ETH Leading the Green Crypto Revolution?

25 May, 2021 CryptoParrot

Could a Greener Ethereum Surpass Bitcoin?

For more than a decade, Bitcoin has dominated the cryptocurrency market. However, as concerns with its environmental impact hitting from multiple sides, other cryptos start to develop their own solutions to bypass the carbon footprint issue with goals to take on the King of Crypto. 

And no other cryptocurrency is more advanced in this process than ETH. With transformations close to completion in the pipeline, Ethereum's cryptocurrency might as well be the closest contender for the crown.

As Elon Musk and many others pointed out recently, the main concern regarding cryptos now is the impact running a network and mining for new coins have on the planet. With reports that BTC is close to surpassing countries in its energy bill, ETH is quickly phasing out proof of work in favour of a cost-effective way of verifying transactions - proof of stake. According to Vitalik Buterin, inventor of ETH, the goal is to have the problem completely phased out by 2022 at the latest.

Once proof of stake is implemented, estimates claim the cost for running the ETH network will drop to 1/10000 of its current value. This means ETH will jump from the second-largest carbon footprint to the smallest one by share of the market. That, allied with the series of transformations dubbed "ETH 2.0" and many partnerships are the weapons Mr Buterin has to make Ethereum a worthy competitor for the top spot.

User Avatar


Crypto Parrot Community Mgr - Here to help answer questions, fix things & help out when needed. Got feedback? Send those bad boys here: [email protected]

Related articles

Bitcoin records 3x higher average trading volume in October than Apple, Amazon, Microsoft

After experiencing increased volatility in late September, Bitcoin (BTC) appears to be regaining its momentum towards another all-time high…

2mins 12 Oct, 2021 CryptoSlashy
Goldman Sachs, Wells Fargo among stocks that outperformed Bitcoin in 2021

The rise in Bitcoin's popularity has increasingly positioned the asset as a formidable investment product directly competing with traditional stocks. Despite recording significant returns, some traditional stocks have outperformed Bitcoin in 2021.…

2mins 29 Sep, 2021 John_Trevors
Almost 5,000 new cryptocurrencies launched in the last 12 months

As the cryptocurrency industry continues to mature with mainstream adoption, investors are pumping more money into the sector contributing to the sector’s popularity.…

2mins 22 Sep, 2021 CryptoParrot
Ethereum adds over 38 million new addresses in 2021, 22% of all ever created

The Ethereum network plays a key role in the cryptocurrency circles, with the asset recording significant interest.…

2mins 14 Sep, 2021 CryptoParrot
Start trading

Recommended crypto exchange

Buy & sell Crypto in minutes

Learn more


Login to comment