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I thought the electricity usage was due to the 'mining' for new crypto, not for the actual blockchain that stores the 'ledger' of transactions.
by briffle 4y ago
I thought the electricity usage was due to the 'mining' for new crypto, not for the actual blockchain that stores the 'ledger' of transactions.
- danans 4y agoMining is what gives legitimacy to the records stored on the blockchain, what allows it to be "trustless". No mining, no blockchain.
- flir 4y agoThey're inextricably linked by design. The "mined" bitcoins are the reward for successfully attaching some transactions to the ledger in a computationally expensive way.