p>A few weeks ago Ethereum blockchain moved from proof-of-work to aproof-of-stake algorithm. This step alone reduced global energyconsumption by 0.2%. It’s as much as an energy usage of Austria. At thispoint, Ethereum, the second largest blockchain after Bitcoin, is usingbarely as much electricity as a few hundred households. How is thatpossible? How does the proof-of-stake algorithm work, avoidingcatastrophic energy waste?

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