Hidden cost of energy consumption when cryptocurrency reduction
As a newcomer in the world of cryptocurrency, he is of course surprised by the impact of mining on the environment. While some think that bitcoins and other cryptocurrencies are only digital currencies, they also have an energy process that is involved in their creation. In this article, we will deal with details of Ethereum’s energy consumption and examine why it is important to take into account this aspect.
Energy hungry process
Mining is a process of verifying transactions in the blockchain network and creating new coins. The most common method used for mining is the use of specialized hardware, which is referred to as integrated application circuits (ASIC). These chips are specially developed for the extraction cryptomena and have a unique architecture that make it more efficient than conventional computer processors.
While CPU, GPU or even older ASIC can reduce cryptocurrencies, they do it for higher energy costs. This process requires considerable performance to perform calculations and data processing, leading to considerable energy consumption. It is estimated that bitcoins themselves are approximately 60-80 TWh of electricity per year, while Ethereum will contribute significantly more than a sibling.
Ethereum unique energy consumption
Ethereum is the second largest cryptomena after market capitalization compared to other cryptomes such as Bitcoin. It is estimated that Ethereum consumes approximately 55-60 GWh of electricity per year, which corresponds to approximately one-year electricity consumption of approximately 30,000 to 33,000 average US houses.
High energy requirement according to Ethereum can be attributed to various factors:
* Consensus about work (Pow)
: Consensus Salgorithm of Ethereum requires considerable computational power to verify transactions and create new coins.
* gas fees : Ethereum is known for high gas charges used to pay the processing and validation of transactions.
* Network size
: With more than 14 million active users requires Ethereum to maintain its complexity a huge amount of energy.
Environmental Effects
As expected, high energy consumption has significant ecological effects. The generation of electricity that is needed to supply Ethereum energy contributes to greenhouse gas emissions that significantly contribute to climate change.
In order to alleviate this problem, several companies and organizations have begun to examine alternative methods for reducing cryptocurrencies, eg. B .:
* Renewable energy Use of renewable energy sources such as sun or wind energy can significantly reduce the trace of CO2 ethereum mining.
* Energy -Effective hardware : Scientists are developing more energy efficient ASIC, which use less electricity to perform calculations.
* Cloud Services : Some cloud providers offer cryptocurrency extraction services where users can rent computational power from these providers to reduce cryptocurrencies.
Diploma
Energy consumption needed for Ethereum extraction is an essential problem. As the demand for digital currencies continues to grow, it is important to take into account the environmental impact of our actions. By understanding the high energy requirements on Ethereum and the research of alternative methods, we can try to reduce the CO2 track of cryptocurrency removal and create a more sustainable future.
Sources:
- [Spotreba energie Ethereum Mining Energy] ( ))))))))))))
- [Renewable energy to dismantle cryptocurrencies] (https: //www.scdencedirect.
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