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Justin Drake on How The Merge Helps Make Ethereum the Settlement Layer of the Internet
The Defiant - DeFi Podcast
Why Proof of Work Is So Important?
The upgrade gives us two things: security and efficiency. In proof of work, you can only reward the miners; it's very difficult to penalize them. With proof of stake, we have set up where every unit of stake is identified under a so called pupkey. And the stake can be, can be reduced or completely removed. The second big upgrade is in terms of power usage efficiency. Right now, efirm uses between zero point one cent and zero point three % of all the electricity produced in the world. It's roughly speaking, a ten thousand x reduction in the indeel electricity consum.
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