3 ms·
Rejected energy is not thrown away energy. It is a result of the fact that our technologies do not have an efficiency degree of 100%. Bitcoin Mining uses 120 T
by Draken93 6y ago
Rejected energy is not thrown away energy. It is a result of the fact that our technologies do not have an efficiency degree of 100%.
Bitcoin Mining uses 120 TWh/year[1] which is way to much imo. The problem is that bitcoin uses the Hashcash proof of work system[2].
But there are mechanisms like proof of stake which can solve this problem.[3] Its about time to convert all blockchains to energy-saving mechanisms..
[1]https://www.forbes.com/sites/lawrencewintermeyer/2021/03/10/bitcoins-energy-consumption-is-a-highly-charged-debate--whos-right/?sh=7fbbb74d7e78 https://www.forbes.com/sites/lawrencewintermeyer/2021/03/10/...
[2]https://en.bitcoin.it/wiki/Proof_of_work https://en.bitcoin.it/wiki/Proof_of_work
[3]https://coincentral.com/could-proof-of-stake-mend-bitcoins-energy-costs/ https://coincentral.com/could-proof-of-stake-mend-bitcoins-e...