13 Jan '18, 2am

Cryptocurrency's Electrical Demand Will Drop Drastically

Cryptocurrency's Electrical Demand Will Drop Drastically

Ethereum is in a bit of a bubble as well, but its consumption is about to drop radically. It has been using proof-of-work, but is about to move to its Casper proof-of-stake model which will reduce mining competition and the like substantially. Proof-of-stake is a model where the creation of the next block is delegated somewhat randomly among the oldest and richest miners. As validation is easy and no miners are competing to solve computationally hard problems, Ethereum’s electricity consumption will drop by orders of magnitude. Casper will be a hard fork, so while the old Ethereum will still be around, its problems will become more and more apparent. There will be a lot of secondary coins created on the Ethereum model which won’t follow the hard fork, but they are also secondary consumers. And it’s important to note that the vast majority of cryptocurrencies are based on E...

Full article: https://cleantechnica.com/2018/01/12/cryptocurrencys-elec...

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