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Ethereum completes “the Merge”, reducing CO2 output by 99% Updated: 2022-09-16 09:07:39 KST

The world's second-largest cryptocurrency, Ethereum, has just completed an upgrade with its long-anticipated "Merge" taking effect on Thursday.
The upgrade will see the coin reduce it's carbon emissions by over 99-percent.
This because it no longer requires an energy-intensive "proof-of-work" mining process, instead using a "proof-of-stake" system, which allows users to "stake" their own tokens to validate transactions.
Before the upgrade, the energy used to mine Ethereum matched Austria's electricity consumption, at 72-terawatt-hours per year.
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