• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
Polygon

Polygon Banks On Merge To Get Rid Of 60,000 Tons Of Carbon Footprint

Christian Encila by Christian Encila
5 months ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

Polygon expects to eliminate a considerable amount of carbon traces from its system as the Merge nears.

The Ethereum Merge is just around the corner. With a soft deadline set on September 15, the world will soon find out whether or not the developers’ hopes for a positive change are realized.

The Ethereum-based Polygon blockchain will also undergo changes as a result of the Merge. In a nutshell , the Merge is the transition from Proof-of-Work (PoW) to Proof-of-stake (PoS). With this update, the Ethereum network should use less energy in the future.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

If you take Chile’s annual electricity consumption of 77.53 TWh and apply it to the current annual electricity usage of the Ethereum network, you get a pretty good idea of how much power is being used.

Related Reading: Fantom (FTM) Hit By Bearish Sentiment Despite Logging Over 300,000 Active Users

Polygon’s Burden: Cutting Carbon Footprint

The network’s carbon footprint is comparable to that of Hong Kong (which is 43.24 MT CO2), so it’s quite sizable.

Based on research by Polygon, the network is responsible for 0.48 percent of Ethereum’s total carbon footprint of 12,721,000 metric tons of carbon equivalent. This estimate is valid for the period beginning in August 2021 and ending in July 2022.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

That’s the equivalent of creating 60,930 tons of carbon dioxide. Polygon also mentioned the difficulty in doing so, noting that it must also factor in the emissions of its L1 chain.

As a result, the progress Ethereum has made toward a (almost) emission-free system will have a significant effect on Polygon’s emission rates.

Polygon did the math for the post-merge as well. They believe that reducing energy consumption will result in Polygon having only 50.22 tons of carbon output.

To put the reduction into context, the projected post-merge annualized energy consumption is 0.82 percent of the pre-merge annualized energy consumption figures for 2021-2022.

Hype And Anticipation On The Merge Intensify

This connection with Ethereum may have an impact on the price of MATIC, Polygon’s native token. Traders have been speculating about the merger. This meant that if investor sentiment for Ethereum is low, investor confidence may be low as well.

According to Coingecko data, the Polygon team’s press day release of the blog post about the merger was met with fear.

The price has recovered from its recent drop the day after the announcement. MATIC’s price has exactly tracked the dip and surge in the price of ETH since Polygon’s blog post.

Confusion and hype are the forces propelling the ETH price surge and retreat.

The future of Ethereum-based networks and Ethereum itself is at stake as the Merge approaches.

Related Reading: XRP Signals Considerable Uptick – Will Social Media Lift Its Price Past $0.34?

MATIC total market cap at $6.5 billion on the daily chart | Source: TradingView.com
Image from Blockchain News, chart from TradingView.com
Tags: carbon footprintEmission-freeethereumMATICMergePolygon
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Christian Encila

Christian Encila

Freelance writing is Christian's other cup of tea. When not on his computer, he unwinds with a bottle of beer and laughs with his son over cartoons. Other than that, he's just like everybody else who wants to be happy with their life.

Related Posts

Ripple XRP

XRP Bulls Try To Break Consolidation At $0.4 To Conquer New Levels

1 hour ago
Cardano (ADA)

Cardano Adds 50,000 New Wallets As ADA Market Cap Surges

5 hours ago
ethereum

Ethereum Hovers Above $1,600, What’s The Next Move?

8 hours ago
Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

Litecoin Whale Transactions Set New 2023 High, Bullish Signal?

9 hours ago
Polkadot

Polkadot Hints At Price Recovery – Can DOT Go Past 15% Weekly Ceiling?

9 hours ago
cardano

Cardano (ADA) Continues To Shine With 15% Gains In the Last Week

10 hours ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Solana (SOL) and LEO Token (LEO) Witness Steep Decline; Flasko (FLSK) Looking To Help Investors Recover Loss

January 26, 2023

BudBlockz (BLUNT) Emerges as a Haven as Bitcoin Cash (BCH) and Stellar (XLM) Struggle to Grow

January 26, 2023

The Top Picks for a Bear Market: Hedera (HBAR), Toncoin (TON), and Orbeon Protocol (ORBN)

January 26, 2023

STEPN (GMT) gains 21% as GameFi, and NFT Industries Suddenly Bounce Back, Decentraland (MANA) named one of the top creditors of bankrupted Genesis Global, Snowfall Protocol (SNW) Seems like the best buy in 2023

January 26, 2023

Polkadot (DOT) On the Rise Following New Releases This Week, Tron (TRX) Down 3% , Snowfall Protocol Is Giving Investors an Edge Over the Bear Market In 2023 With Over 500% Price Gain

January 26, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.