Ethereum Merge Completes, Energy Consumption To Drop 99.9% – September 15

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $19,724

Bitcoin price has fallen through $20,000 once again, as the market appears to be selling-off following the Ethereum Merge.

Top-20 altcoins are all down over the last 24 hours, as Ethereum drops 7%, BNB falls 4% and Cardano sees a 3% decline.

Top Stories for September 15, 2022 πŸ”₯

πŸ‘‰ Ethereum Merge Completes, Energy Consumption To Drop 99.9%

The Ethereum network appears to have successfully completed its Merge, shifting the network to a Proof-of-Stake model that consumes 99.9% less power than before the upgrade.

The transition was a highly-planned technical effort, a task which Ethereum Foundation researcher Justin Drake likened to “switching out the engine from a running car.”

As a result of the upgrade, Proof-of-Work mining will no longer take place on the network. The new network will also be primed for further upgrades to scalability in the future.

πŸ‘‰ Michael Saylor Fights Back Against Bitcoin Energy Misinformation

MicroStrategy executive chair and former CEO, Michael Saylor, has fought back against “misinformation and propaganda” surrounding Bitcoin mining and energy consumption, amidst a rise in criticism following Ethereum’s Merge.

According to Saylor, Bitcoin mining energy consumption comes from almost 60% sustainable sources – also consuming far less energy than tech giants such as Google, Netflix or Facebook. Saylor also states that 99.92% of world carbon emissions are from industrial uses other than Bitcoin mining.

πŸ‘‰ Coinbase-Backed Lawsuit Vs Treasury To Become Landmark Case

A Coinbase-backed lawsuit against the US Treasury concerning Tornado Cash sanctions is set to be a landmark case, with potentially much broader implications across the crypto world.

The primary focus of the suit is to contest the Treasury’s sanction over code on a decentralized network. The move was unprecedented, as the Treasury is currently only understood to be allowed to sanction an individual or an entity.