Ethereum gas consumption has plummeted 99.99% since The Merge, transforming the network into a more environmentally friendly platform.
One year after the major upgrade, The Merge, which marked the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus, Ethereum has achieved certain improvements, including a record drop in gas consumption.
According to data from Glassnode Alerts, Ethereum’s daily energy consumption has been down 99.9% post-Merge.
Additionally, gas fee pressure on the Ethereum network has eased despite the recent SocialFi hype. In the past, gas fees on the Ethereum network were inclined to explode due to increased network activities. This gas fee optimization could result from Layer-2 scaling solutions’ development, one of the remarkable progresses this year.
However, most arguments point to the fact that the poor performance of NFT, and meme trend’s losing steam have decreased the demand for gas…
