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Well bitcoin is particularly wasteful because of the way of handles decentralized proofs in a way that scales the difficulty to make it consume more computing p
by robotbikes 7y ago
Well bitcoin is particularly wasteful because of the way of handles decentralized proofs in a way that scales the difficulty to make it consume more computing power based upon all the participants. This property isn't inherent in the blockchain technology and so the core argument of this article that because the Chinese government are testing blockchain based tech they aren't banning mining for environmental purposes is false. I'm sure there are other reasons they want to ban it but anyone with knowledge of the wastefulness of cryptomining and the fact that most of their power comes from burning coal it is hard to cry about the banning being disingenuous.