New data is out regarding the amount of energy saved by Ethereum’s transition from a Proof of Work to Proof of Stake consensus mechanism known as “Merge”, which took place on September 15th. Cointelepgraph reports that after merging, Ethereum’s network power consumption is down by over 99 percent, and the network’s carbon footprint is now 0.1 million tons of CO2 (MtCO2) per year, meaning that the electrical consumption of single Ethereum transactions is “equivalent to the energy used to watch two hours of YouTube.”
Earlier this week, Protocol Labs and the Filecoin Foundation, along with other founding members, announced the launch of the Decentralized Storage Alliance (the Alliance), a first-of-its-kind, member-led industry organization to promote awareness and adoption of decentralized technologies such as Filecoin, IPFS and libp2p, and helps Web2 participants make the transition to Web3 through education, mandates, and best practices. According to a press release, decentralized storage networks promise to enable more efficient, robust and secure storage at lower costs than traditional data storage. “With top leaders across Web2 and Web3 coming together to explore the unrealized potential of decentralized technology, this alliance has the power to transform the foundation of the Internet,” said Stefaan Vervaet, Head of Network Growth, Protocol Labs. “Decentralized storage can provide assurances of data integrity, avoid data locking, meet data sovereignty requirements and provide many significant advantages over traditional Web2 data solutions.”
Last week, a major US technology company announced Blockchain Node Engine, a fully managed node hosting service that can minimize the need for node operations, allowing developers to spend more time building products and less time managing their nodes, which could help to strengthen blockchain infrastructures. According to a company announcement, the new Blockchain Node Engine boasts low-latency networking that can scale seamlessly as developers need it, proprietary digital asset security, and simplified node deployment with real-time data and insights from the company’s cloud service. Ethereum will be the first blockchain supported by the Blockchain Node Engine.
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