Ethereum will soon switch to a consensus mechanism called proof of stake, which uses far less power and should make the network about 99% more energy-efficient, according to figures from the Ethereum Foundation. Under proof of stake, transactions are confirmed by addresses that have staked—pledged to a smart contract—lots of ETH. Those who have staked more ETH earn proportionately higher rewards. While proof of stake conceptually makes the rich richer, it doesn’t boil the oceans, either.