4 ms·
>The problem with Proof of Work is that it is too inefficient and not that it consumes too much energy. If bitcoin could do 100k transactions per second globall
by DINKDINK 8y ago
>The problem with Proof of Work is that it is too inefficient and not that it consumes too much energy. If bitcoin could do 100k transactions per second globally
The amount of energy mining consumes is not driven by the number of transactions. Decreasing the number of transactions 100% or increasing them 10X doesn't decrease the energy spend 100% nor 10X.
- xwvvvvwx 8y agomining activity follows the price.
- SomeHacker44 8y agoIf you decrease the number of transactions 100% there would be no need to mine blocks, resulting in an impressive energy savings. :)
- decentralised 8y agoMind you that blocks are mined at regular intervals with or without transactions.