What to do if Bitcoin finally turns green?

What to do if Bitcoin finally turns green?

In the world of cryptocurrency this may be a small revolution: bitcoin will gradually become more and more ecological. In fact, you may not know that bitcoin miners are often accused of being a waste of energy. This, in particular, is due to the enormous computing power required to carry out all transactions across the planet. Now things are likely to change.

New protocol to reduce power consumption?

To get an idea of ​​the significant impact of Bitcoin on our electricity consumption, it has been evaluated In 2021, cryptocurrency will be used for 100 to 130 terawatt hours. By comparison, a country like France consumed 468 TWh in the same year. You will understand: Bitcoin uses almost a quarter of the energy of a country like France. It is necessary to find another way to mine Bitcoin.

The world’s first crypto-currency may have been inspired by the second (ether) set: Stop at transaction verifications (Called the “source of the body”). Therefore, it is not necessary to verify every transaction made in Bitcoin, which requires impressive computing power, rather than using the frozen sum system (“skate proof”). In definite terms, operators have the power to verify a transaction using the amount disabled in the wallet. Alternatively, a transaction fee waiver is offered as a reward. It remains to be seen whether Bitcoin will work this way, and we will need to know more in the coming months.

What are the other ways to get green bitcoin?

Meanwhile, this does not stop us from finding other solutions to reduce the energy impact of bitcoin. The first thing, of course Renewable energy must be used. Moreover, this is the definitive purpose for cryptocurrency, and we need to turn more and more to this verification method. However, this is not enough: Bitcoin mining still generates significant heat. The latter comes from high power computers and pure losses. Therefore, this type of heat recovery can be considered for heating a district or several buildings. For example, by installing a hot water system, it is entirely possible to reuse heat from the air toward the water.

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In short, there are ideas, and all that remains is to implement these actions. Moreover, it is being done more and more, and we can only promote these positive improvements. Finally, to conclude our article, it is good to remember that there is a large community of specific miners. The latter wastes energy as elsewhere, and it is difficult to recover the heat that is exposed … Of course it makes it possible to heat an individual’s home in the winter, but in the summer, this is a different matter. In short, creating a bitcoin environment is very adventurous.

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About the Author: Seth Sale

"Passionate creator. Wannabe travel expert. Reader. Entrepreneur. Zombie aficionado. General thinker."

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