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The TRUTH about ETH 2.0....

Updated: Nov 4, 2022

ETH 2.0 vs Pulsechain

The current state of Ethereum

Currently, the Ethereum ecosystem is suffering from major issues from a user perspective: High gas fees, Power consumption, and Network Congestion to name a few. Users are often having to wait for hours before getting a low enough cost for gas fees to make a transaction. Often, users avoid the swap entirely and move to different networks.

Ethereum also requires a high rate of power consumption for Proof of Work to function and validate blocks. As nodes all put in computational “Work” in order to validate a block and get the reward, only one Node will solve the computation. This means that every node that did not solve the puzzle wasted all the electricity required to attempt to solve the “puzzle”, thus making Proof of Work a very wasteful protocol energetically and consequently causing more environmental burden than required to do the work.

If both Ethereum and Bitcoin were a country, its C02 Emissions would have it placed 14th in the world for most emissions per year by country; Barely behind Saudi Arabia. The carbon footprint of one single Ethereum transactions is equivalent to 265,806 Visa transactions or 19,988 hours of watching Youtube. The power consumption of one transaction is equivalent to 7.27 days of consumption from the average US household. This is all due to the Proof of Work Consensus that Ethereum uses to mine blocks and validate transactions on the network.