Eco update for cryptosystem Ethereum: security risk that saves electricity

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To ensure the security of the blockchain, cryptocurrencies consume gigantic amounts of electricity. Pictured is a photo of a crypto mining facility in Iceland.

Cryptocurrency systems like Bitcoin and Ethereum consume huge amounts of electricity because they rely on an energy-intensive backup process. At least Ethereum now dares to switch to an environmentally friendly system. The shift, called «The Merge», is risky.

“Supercrash”, “crypto winter”, “billion in value destroyed”: The current headlines about the cryptocurrency industry this year are spreading bad sentiment among investors. But not only the falling prices of Bitcoin and Ether, the currency of the Ethereum blockchain, are causing headaches.

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