Polygon (MATIC) anticipates the upcoming Ethereum (ETH) merge to a proof-of-stake consensus mechanism will have a dramatic impact on its own environmental footprint.
In a new blog post, the Polygon team says that the merge will reduce 99.9% of the Polygon network’s carbon emissions, making “the chain one of the greenest in Web3.”
Explains the layer-2 scaling solution project team,
“The merge is expected to reduce Ethereum’s electricity consumption by 99.99%. Based on this assumption, CCRI estimates Polygon’s post-merge emissions from activities on the underlying Ethereum base layer will be about 6.09 tCO2e, or the equivalent of a round trip from Munich to San Francisco in business class.”
The Polygon team notes that 99.9% of Polygon’s emissions originate from the chain’s activities on the Ethereum base layer.
Ethereum’s merge is currently predicted to happen in about 4-5 days, according to the Web3 infrastructure company Blocknative.
The highly anticipated upgrade aims to address the Ethereum network’s scalability issues by setting the stage for future upgrades, including sharding, a multi-database distribution method for distributing a single dataset.
According to Ethereum co-founder Vitalik Buterin, the smart contract platform will eventually be capable of facilitating 100,000 transactions per second via second-layer solutions following the completion of the upgrade.
MATIC is trading for $0.849030 at time of writing while Ethereum is currently going for $1,642.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Gunnar Assmy
Credit: Source link
