The transition from PoW to PoS has changed the way the Ethereum blockchain verifies transactions. Rather than using miners who consume large volumes of computing power to validate and create new blocks, validators now can stake the native Ethereum coin ETH to the network, therefore dramatically reducing energy consumption.

With respect to Ethereum, a new block is currently finalised around every 13th second. In these 13 seconds, every miner fights to be the one to finalise the block. This involves applying computing power and thus requires electricity

However, in the end, it is solely one miner that finalises the block and verifies the transactions, even though other miners have spent a tremendous amount of energy on the same block.