Do cryptocurrencies consume more energy than a country?
Why do I mention Syria, Moldova or Mozambique in this little report?
The first efforts are made to make the technology Blockchain ecological and energy consumption does not affect the environment.
These are some numbers of the BTC and ETH mine.
With the mine fever of the crypto-coins already talking about a huge consumption of energy, the miners have left the stores almost without stock of graphic cards and we already have an idea of the ones that have running all the time to full.
The mining of crypto-coins Bitcoin and Ethereum supposes a worldwide energy consumption of 4.54 TWh and 4.69 TWh, this means that the mine of Ethereum consumes almost the same energy that the country that is placed in the position 120 of the ranking of consumption of electricity, we are talking about Moldova which has a population of 3 million people.
On the part of the Bitcoin, its consumption is more or less equivalent to the country in position 81 of the ranking for which the energy consumption is the equivalent to Mozambique and Turkmenistan, the second has a population of 5.17 million inhabitants. If we add the numbers of both crypto-currencies, we have that the mine consumes the amount of energy that a country with 17 million inhabitants like Syria.
If we keep talking about numbers Ethereum consumes in its mine 8 times more energy than necessary to run the network of credit cards VISA, worse is the case of Bitcoin that consumes 27 times more energy.
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I think its awesome, we just need to figure out how to make sources more green. Many mining facilities already use Green power because it is more cost effective. We also need to figure out how to become more energy efficiency while still being crazy secure like we are now. There are huge stores of Green energy available. Perhaps it is time we as a community pushed for change in energy costs and sourcing? Both can be solved.
Definitely. It will not be a long time for blockchain to go hand in hand with the environment. @xiobus
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That's insane!
Everything has a solution :)
There are much greener coins like Carbon coin or EverGreen Coin
Excellent data bro