The Ethereum network’s greenhouse gas emissions have dropped by an estimated 99.97% since its shift to proof-of-stake, despite a big rise in node count.

That’s according to new research by the Cambridge Centre for Alternative Finance. The organization has upped its crypto research effort after in April launching the Cambridge Blockchain Network Sustainability Index (CBNSI) — a measure that detailed Ethereum’s electricity consumption pre- and post-Merge. 

The Ethereum network currently is responsible for 2.8 kilotonnes of carbon dioxide equivalent (KtCO2e) on an annualized basis, the CCAF said in a Friday report. 

“To contextualize, this would equate to the emissions from…

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