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Parliamentary question - E-003205/2022Parliamentary question

Impact of the Ethereum Merge

Question for written answer  E-003205/2022
to the Commission
Rule 138
Eero Heinäluoma (S&D)

The energy crisis is affecting millions of families and businesses in the EU, so an effective policy response needs to be formulated. Concrete proposals for the energy crisis are therefore urgently needed.

The Ethereum Merge took place on 15 September 2022. Ethereum shifted to a proof of stake protocol, with energy savings of 99 %, as revealed in the latest report by the Crypto Carbon Ratings Institute. This step demonstrates that a shift towards proof of stake is technically possible, safe, and does not threaten innovation. Despite this, the most widely used cryptocurrency, Bitcoin, is still generated by means of a proof of work protocol.

In view of this:

Last updated: 4 October 2022
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