Polygon Banks On Merge To Get Rid Of 60,000 Tons Of Carbon Footprint
2022年9月9日 - 02:30AM
NEWSBTC
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. 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. 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
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