According to a report from the University of Cambridge, the Ethereum network consumes 28 times less energy than American Express. The report compares the energy consumption of Ethereum to several other financial and corporate businesses. It also reveals that Ethereum is more energy-efficient than Deutsche Bank, Netflix, and the Burj Khalifa. The report further states that the energy needs of the decentralized finance ecosystem are equivalent to the yearly consumption of 676 air conditioners and can meet the power needs of 1,969 average households. Ethereum's energy efficiency is attributed to its switch from a proof-of-work to a proof-of-stake mechanism. The Ethereum network is a central hub for decentralized finance and has a market share of 19% in the crypto market. The recent launch of the decentralized Verifiable Random Function service on the Ethereum mainnet by SupraOracles further strengthens Ethereum's potential.
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