Mozilla, the company behind Firefox browser will no longer accept ‘proof-of-work’ cryptocurrencies, which are more energy intensive.
According to Digiconomist, Ethereum consumes about 112 terawatt-hours of electricity per year, which is comparable to that of Netherlands and more than what Philippines or Pakistan use.
A single Ethereum transaction also equals the energy consumption of more than 1,50,000 Visa card transactions.
PoS only allows a few crypto miners or ‘validators’ to mine cryptocurrency.
Mozilla said that these decisions are informed by its climate commitments.
“In our climate commitments, we also promised to help develop, design, and improve products from a sustainability perspective.
Meanwhile, Ethereum is nearing a massive upgrade that will change its infrastructure and make it consume about 99 per cent less energy.