One-month after The Merge we have the first energy consumption report from the Ethereum Foundation and, as predicted, the network has dramatically changed its sustainability narrative for good ?? ? The report from the Ethereum Foundation following Ethereum’s major technological upgrade last month - moving the network from Proof of Work to Proof of Stake - fully validates the expected power consumption reduction (down 99.988%). ? We now see a fully new narrative for environmental impact for Ethereum-centric Web3 assets and market activity. ?????? ? The Ethereum network ??is now a global leader in low energy consumption among digital networks. As seen in the graphic below, the Ethereum network’s shift towards a Proof of Stake (PoS) network has drastically altered its energy consumption footprint. All transaction volume on the $150b+ #Ethereum #blockchain (DeFi, #NFTs, payments, trading, etc.) now looks negligible compared to Netflix streaming, Gold mining, and even PayPal transactions. ? Want a refresher on Proof of Stake? Take a look at our handy Guide to the Merge.?https://lnkd.in/dqk6iiFp ? #sustainability