10
Dec
2017

Bitcoin uses more power than Serbia – the environmental cost of cryptocurrencies

That’s just Bitcoin. Since the runaway success of the first big crypto party, a host of others have sprung up, each offering their own functionality and twist on the crypto theme and each adding further to what’s starting to look like a rampant energy consumption issue. Rising star Ethereum, for example, which uses the power of blockchain technology not just to move and verify money, but to maintain and verify “smart contracts” between entities, is now burning 47 kWh per transaction. Then there’s Dash, Ripple, Litecoin, and myriad other coins, either standalone crypto networks or built on top of other networks’ core functionality.

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