Yesterday there was some great news. Ethereum is switching from Proof of Work to Proof of Stake. This means it will use 99% less power. My most significant criticism of blockchain has always been that it is a liability to the planet. It produces as many emissions as Vietnam right now, and there are coal-fired to support mining.
This means that most of the decentralized apps we use and many other services will become much better for the planet. However, there is still one elephant in the room. Bitcoin is still using Proof of Work, which is about double the size of the Ethereum network. So, for now, we will only see a modest reduction in the catastrophic pollution caused by this technology. Personally, it means that for the first time, I will entertain using this for more than just experimentation. I now feel a barrier has been lifted in adopting Etherium technologies, and I will be willing to participate. As someone who has spent the best part of 20 years campaigning for the closure of filthy power stations, I certainly won’t be investing in Bitcoin!