How Ethereum’s Merge could fix NFT’s energy consumption issue

As Ethereum takes its final step towards The Merge, it will change the cryptocurrency consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS). This improvement could also be the solution to fix non-fungible-token’s (NFT) energy issues. In simple, the Ethereum network is all set to be 99 per cent less energy-intensive, shifting the power from the hands of crypto miners to a completely decentralised mechanism, where nobody controls the Ethereum network.

Crypto mining consumes a lot of hash power (computational power) and resources because of the PoW algorithm. It works by having all nodes (devices) solve a cryptographic puzzle. This puzzle is solved by miners and the first one to find a solution gets the reward.