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Back in 2018 it was estimated that bitcoin network itself used more energy than Switzerland. In addition to the energy this also translates to global warming.
by takeda 6y ago
Back in 2018 it was estimated that bitcoin network itself used more energy than Switzerland. In addition to the energy this also translates to global warming.
Anyway you mentioned "If someone can show me a non-blockchain design for decentralised over-collateralised loans then I’ll concede and go back to full skeptic :)"
My question is, why it has to be decentralized and come with that huge cost?
- exdsq 6y agoSo the blockchain I work on uses significantly less energy than PoW which is what you’re referring too - I agree they’re wasteful. POS doesn’t require the computational effort for blocks so doesn’t require more energy than a small server. As to the decentralised question: as someone from the UK sure we have loans but these allow you to get them without a credit check and they’re accepted/paid immediately. Someone in a third world country might not have access to the same financial instruments we get to enjoy.