Layer-Two Scaling Solution Polygon (MATIC) Says Ethereum (ETH) Merge Will Slash Its Carbon Footprint by 99.9%
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.
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The post Layer-Two Scaling Solution Polygon (MATIC) Says Ethereum (ETH) Merge Will Slash Its Carbon Footprint by 99.9% appeared first on The Daily Hodl.