Why banking uses at least 56 times more energy than Bitcoin

2022-11-7 19:00

“Bitcoin uses 0.05% of world energy consumption. Banking uses 56 times more energy than Bitcoin,” Michel Khazzaka, a cybersecurity engineer and cryptographer, told Cointelegraph.

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Источник: cointelegraph.com

energy uses → Результатов: 85

The Crypto Industry Has Been Misled for Years into Believing That it Uses A lot of Energy, When In fact, It’s Untrue

Bitcoin and crypto mining are said to be energy-intensive processors. However, new studies discover that mining is not as energy-demanding as asserted.

2022-10-27 13:30	Energy
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Kora Utilizing Tezos Blockchain To Power Its Carbon Footprint App

Today, Kora, an app that rewards users for lowering their carbon footprint, announced an investment from the Tezos Foundation and utilised the Tezos blockchain, which uses less energy, to power the application.

2022-10-19 00:13	Press Release
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Can Crypto Go Green? Learn About IMPT Exciting Plans for the Planet

With the negative stigma surrounding the amount of energy cryptocurrency uses, it’s about time crypto projects step up and start to make a difference from inside the industry. One project that entirely focuses on helping crypto go green is IMPT – a blockchain-based carbon credit ecosystem.

2022-10-7 21:03	Company News
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Blockchain Association calls White House's crypto framework a 'missed opportunity'

Critics claimed the Biden administration's reports focused on environmental concerns over crypto's energy consumption and illicit uses rather than the technology's benefits.

2022-9-17 20:15	White House
crypto consumption energy environmental concerns illicit technology

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TRON Volume And Market Cap Down Despite Social Media Hype

According to recent news reports, Tron (TRX) outperformed both Bitcoin and Ethereum in terms of energy efficiency. TRX social dominance up TRX price down by 2. 97% Future trends show TRX to plunge further Compared to Bitcoin, Tron uses 99.

2022-9-1 15:01
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Bitcoin uses 56 times less energy than classical system

A recently published study compared Bitcoin’s and traditional finance’s energy requirements to find that Bitcoin currently uses 56 times less energy. The post Bitcoin uses 56 times less energy than classical system appeared first on CryptoSlate.

2022-6-18 06:00	Technology
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Banking uses 56 times more energy than Bitcoin: Valuechain report

Analysis of Bitcoin’s proof-of-work and the Lightning Network exposes the banking system as energy-hungry, demonstrating that Bitcoin is better for the planet.

2022-6-17 16:16	Report
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Here’s how blockchains are helping to advance the global energy grid

Governments and environmentalists are quick to criticize the amount of electricity Bitcoin mining uses, but investors’ growing interest in crypto is leading to positive steps in the energy sector.

2022-6-11 00:30	Bitcoin Regulation
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Bitcoin's real energy use questioned as Ethereum founder criticizes BTC

A founding member of Ethereum has claimed that Bitcoin uses nearly 1% of the world’s electricity, but different sources put it substantially lower.

2022-6-11 12:54	Ethereum 2.0
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Middle East Oil Producers Move Into Bitcoin Mining With Crusoe Energy Stakes

The U.S. startup – which uses flared natural gas to power Bitcoin mining rigs – counts the sovereign wealth funds of Abu Dhabi and Oman as investors.

2022-6-4 20:50	Business
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Stronghold Digital Beats Q1 Revenue Estimates, but Misses on Earnings

Shares of the bitcoin miner that uses waste coal for energy fell slightly in after-hours trading.

2022-5-17 00:21	Business
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Stronghold Digital Beats Q1 Revenue Estimates, Misses on Earnings

Shares of the bitcoin miner that uses waste coal for energy fell slightly in after-hours trading.

2022-5-18 00:21	Business
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Solana (SOL) Aiming at 100% Carbon Neutrality in 2021

Solana (SOL) has released its energy usage report on November 24, 2021. The report claims that a single Solana transaction consumes far less energy than a single search operation on the Google search engine, and the entire Solana network with 1,196 validator nodes, uses exactly the same amount of energy as 986 American households. SolanaRead More

2021-11-27 22:00	solana
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Report claims each Solana TX uses less energy than 2 Google searches

The report also found that a transaction on the Solana blockchain uses 24 times less energy than charging your phone.

2021-11-27 06:40	XRP
less energy report uses solana phone transaction

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Talk About Renewable Energy: Toilet Turns Excrement Into Power AND Currency

A professor at the Ulsan National Institute of Science and Technology (UNIST) in South Korea basically turned led into gold. The toilet he created uses human feces “to produce biogas and manure.” Not only that, every person using it gets paid in “a virtual currency called Ggool, which means honey in Korean.” That’s right, this […]

2021-7-30 02:49
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Get Paid for Excrement: This Eco-Friendly Toilet Pays You in Digital Currency

An eco-friendly toilet that pays people in digital currency for using it has been installed at a university in South Korea. The toilet is connected to a laboratory that uses excrement to produce biogas, which is used as a source of energy at the university.

2021-7-11 06:30
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‘Poopcoin’: Korean professor uses bio-waste to mine crypto

Students in a South Korean college are earning crypto mined from the energy generated from their excrement.

2021-7-10 14:59	Virtual Currency
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One of North America’s Biggest Miners Harnesses Flare Gas Energy

Amid the ongoing debate surrounding the environmental impact of bitcoin (BTC) mining, light has fallen on Denver-based operation Crusoe Energy. A company that uses energy from flare gas to mine BTC.

2021-6-20 17:20
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Chia Is Eyeing to Launch an IPO This Year

Chia, a cryptocurrency project created in 2018 that uses storage for its consensus, is eyeing a public offering this year, according to statements from its COO, Gene Hoffman. The company just received an influx of investments that are pointing it to become the next ‘green bitcoin substitute,’ due to its relatively low energy consumption compared […]

2021-5-27 13:00
chia year eyeing influx investments pointing energy

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Banking system uses more energy than BTC, Galaxy Digital reports

Galaxy Digital, a diversified financial services company that focuses on cryptocurrencies, has revealed that the banking system consumes more energy than BTC mining. The firm unveiled this news through a report entitled On Bitcoin’s Energy Consumption: A Quantitative Approach to a Subjective Question.

2021-5-18 20:20	Cryptocurrency
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Banking System Uses Significantly More Energy Than Bitcoin, Research Shows

A new report shows that the banking system consumes more than twice the amount of energy that bitcoin does. The authors analyzed bitcoin’s energy usage and compared it to the banking and gold industries.

2021-5-17 03:00	mike novogratz
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Bitcoin Miner Plans to Double its Capacity Through Completely Renewable Means

BitRiver, which accounts for 2% of global Bitcoin mining, uses more than 90% green power as it builds its data centers in regions with electricity surpluses and renewable energy sources. The post Bitcoin Miner Plans to Double its Capacity Through Completely Renewable Means first appeared on BitcoinExchangeGuide.

2021-3-12 21:21	bitcoin mining
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‘Green’ Bitcoin miner Iris Energy doubles its fundraise ahead of IPO

A firm from Australia that uses renewable energy to mine Bitcoin (among other businesses) has raised two times the intended capital in a recent round. The post ‘Green’ Bitcoin miner Iris Energy doubles its fundraise ahead of IPO appeared first on CryptoSlate.

2021-3-4 03:45	btcusd
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How UPenn Uses Blockchain To Incentivize Sustainable Energy Use

Like many colleges across the country, The University of Pennsylvania (UPenn) currently has few students on campus due to the impact of COVID-19. Assistant Professor of Architecture, Dorit Aviv is taking advantage of all those empty dorm rooms to establish an innovative sustainability project based on Internet of Things (IoT) and blockchain technology.

2020-11-21 22:23	Insights
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Siemens-backed blockchain energy platform showcases in Germany

The German state-funded energy project uses DLT to enable transparent market transactions.

2020-10-22 16:42	transparency
energy project uses state-funded german dlt transactions

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Ripple Explains Why XRP Is More Sustainable Than BTC and ETH in Celebration of Earth Day

Ripple's XRP uses an infinitesimal amount of energy compared to Bitcoin (BTC)

2020-4-23 22:15
ripple btc xrp uses day amount bitcoin

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Tech Giant Microsoft Patents New Bitcoin (BTC) Mining System

Tech giant Microsoft has patented a new crypto mining solution that uses human bodily activity data to reward people with digital currency when they perform certain tasks. The firm says the new system aims to reduce computational energy consumed during mining while also making the mining process faster, according to a report released April 6,Read MoreRead More.

2020-4-8 01:00	Technology
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Ripple CEO Brad Garlinghouse Raises Concern About BTC And ETH’s Energy Consumption

An article published by UK’s Telegraph stated that 1 Bitcoin transaction utilizes more energy compared to what an average British family uses in about two months. The article referred to data from Diginomist to show that Bitcoin’s energy consumption was at 77.

2020-3-5 01:06	bitcoin mining
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Ripple Chief Critical of Bitcoin, Ethereum ‘Wasteful’ Energy Consumption

As if there wasn’t enough tribalism within the crypto community already, Ripple’s CEO has blatantly bashed bitcoin and Ethereum for their energy consumption and carbon foot print. Bitcoin Using More Energy Than Ever A recent article in the UK’s Telegraph has claimed that one bitcoin transaction uses more energy than an average British household does in two months.

2020-3-4 12:00	XRP
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IOTA (MIOTA) Tangle Technology Uses Far Less Energy Than Bitcoin (BTC)

Digiconomist, a platform that claims to be dedicated to exposing the unintended consequences of digital trends from an economic angle, has evaluated the energy consumption of IOTA (MIOTA) and Bitcoin (BTC) and discovered that the latter uses over 10x more energy to carry a 1 BTC transaction as compared to IOTA’s Tangle, according to reportsRead MoreRead More.

2020-1-27 13:30	MIOTA
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Bitcoin mining mostly uses 'energy that otherwise wouldn't be spent'

On the most recent episode of the Bitcoin & Co. podcast, Jan Capek and Pavel Moravec, CEOs and co-founders Braiins, the company operating the world’s first Bitcoin mining pool, Slush Pool, joineThe post Bitcoin mining mostly uses 'energy that otherwise wouldn't be spent' appeared first on AMBCrypto.

2019-12-27 14:00	Trading View
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Bitcoin Mining Revolution Proposed by Researchers

A group of researchers has authored a paper proposing a new Bitcoin mining method to make it less energy-intensive and cheaper. Its new proof-of-work system moves costs from electricity to hardware.

2019-11-27 16:17	News
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Bitcoin Mining and Crime Slammed by C++ Creator

Bjarne Stroustrup, the Danish computer scientist who birthed the programming language C++, has lamented the fact that his creation plays such a key role in Bitcoin’s function. Stroustrup, speaking on a podcast with Lex Fridman, said Bitcoin uses too much energy and “mostly serves criminals.

2019-11-11 21:10	News
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Bitcoin’s Energy Consumption Nears Belgium, Finland Figures

Bitcoin’s hashrate reached new record highs this week, leading one study to estimate its total energy consumption now matches some EU nations. More Power Than Belgium? According to the latest data from the University of Cambridge, the Bitcoin network uses around 79.

2019-10-24 14:00	bitcoin mining
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Bitcoin (BTC) Mining is Actually Green

Bitcoin (BTC) mining uses up as much electricity as Austria in a year, at 73. 12 TW/h, shows data collected by Digicomist. com. This exorbitant energy use is viewed as one of the strongest arguments that mining is an activity extremely damaging to the environment.

2019-10-20 16:30
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Even With Record Hash Rates, Mining Bitcoin Uses Less Energy Than Before, New Data Reveals

It is no secret that Bitcoin is getting record high hash rates recently. In the last weeks, the numbers are growing up a lot, which proves that the network is now safer than ever. This, some people believe, would mean that more energy would be spent on mining tokens. This, however, is far from the […]

2019-9-6 18:38	bitcoin mining
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Jaguar Uses Iota in Proof-of-Concept Demo for Tracing Car Energy

Jaguar’s I-Pace will use Iota tech as part of a DLT-backed energy tracing demo

2019-8-31 01:07	#tokens
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Congressional Research Service Finds Potential Blockchain Uses for Energy Sector

Congressional researchers detailed the current state of energy consumption related to cryptocurrency mining and potential regulations for the energy-intensive process.

2019-8-13 00:30
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Oil Giant Shell Invests in Startup That Uses Blockchain Tech for Energy Tracking

A blockchain startup that says it's working to give energy consumers more choice has raised an undisclosed sum from Shell and Sumitomo Group.

2019-7-11 07:30
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Oil and gas giant Shell invests in Ethereum blockchain project to track flow of energy

World’s fifth-largest oil and gas company, Shell, took a step forward in its exploration of the blockchain world, after it invested in a New-York based startup using a modified version of Ethereum blockchain.

2019-7-11 20:30
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Bitcoin Network “Wastes” More Energy Than Switzerland

The Cambridge Centre for Alternative Finance launched a new real-time index tracking the total electricity consumption of the Bitcoin network. The index, called Cambridge Bitcoin Electricity Consumption Index (CBECI), provides a real-time estimate of the total annual electricity usage of the Bitcoin network and enables live comparisons with alternative electricity uses in order to put numbersRead MoreRead More.

2019-7-8 09:00	proof of work
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NEM blockchain venture arm invests in tokenized smart meter energy app

NEM Ventures, the venture capital and investment arm of the NEM blockchain ecosystem, has announced an investment in Ample, which uses distributed ledger technology to tokenize energy consumption rights at the user level, creating a new economy for energy efficiency.

2019-7-2 13:42
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Bitcoin Miners Becoming ‘Buyers of Last Resort’ for Clean Energy: Report

The latest report from CoinShares shows that renewable energy powers the vast majority of the Bitcoin mining network contrary to the “ocean boiling narrative. ” Bitcoin Mining Uses Mostly Clean Energy In its third bi-annual mining report, CoinShares revealed that clean energy sources powered more than 74% of the Bitcoin mining network.

2019-6-7 18:00
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Think Bitcoin is Wasteful? Have You Ever Thought About the True Cost of Fiat?

One of the most commonly repeated criticisms of Bitcoin is its energy consumption. It seems that every few months, some new report is penned stating that Bitcoin uses the same amount of electricity as an ever larger country.

2019-6-1 00:00	Uncategorized
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A Town In Switzerland Uses Blockchain To Trade Solar Energy Between Neighbors

The Swiss city of St. Gallen is now using blockchain technology to trade excess solar energy between residents, marking… The post A Town In Switzerland Uses Blockchain To Trade Solar Energy Between Neighbors appeared first on Invest In Blockchain.

2019-5-8 10:23	Switzerland
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Is Bitcoin Mining Really An Environmental Catastrophe?

We’ve seen the screaming headlines: Bitcoin uses more electricity than Ireland! Bitcoin is an environmental terrorist! Bitcoin will use more energy than the whole wide world by next year! (Yes, really… Newsweek actually published that.

2019-4-25 19:40
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China wants to destroy ‘wasteful’ Bitcoin mining

China, one of the world’s most prominent blockchain and cryptocurrency forces, wants to put an end to “wasteful” Bitcoin mining. The National Development and Reform Commission (NDRC) has added cryptocurrency mining to its latest list of industries it wants to restrict, or eliminate, Reuters reports.

2019-4-9 11:17	hard fork
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Windhan Energy ICO

Windhan is a blockchain-based green energy Crowdfunding and trading platform which uses blockchain technology to create a more meritocratic next generation of renewable energy assets. It brings together green energy producers and consumers to sell and buy renewable energy without overpaying to corporations, suppliers and other intermediaries.

2019-4-2 09:42
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AhrvoDEEX ICO

AhrvoDEEX is a peer-to-peer decentralized equity exchange that enables profitable trading by using multifactor ranking systems and deep learning algorithms that create smart equity scores and price targets to streamline the decision-making process.

2019-3-28 21:33
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Mining Misinformation: How The United Nations University Misrepresents Bitcoin’s Energy Use

Revealing the junk science used by the United Nations University to attack bitcoin mining. The first report from the “FUD Fighters” series.

Bitcoin energy value metric puts BTC’s ‘fair value’ at $47K — Analyst

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With Regulatory Understanding, Bitcoin Mining Can Fuel Florida’s Energy Future

With a welcoming regulatory environment and burgeoning energy industry, Florida is an emerging hub for Bitcoin mining operations to flourish.

Bitcoin Is a Threat to the Energy-Use Status Quo – and That’s a Good Thing

Banning or taxing crypto mining out of existence isn’t going to solve this country’s issues around power consumption and grid stability – but supporting Bitcoin just might.

The Kazakhstan Mining Exodus Has Flipped Bitcoin To Clean-Energy Dominance

After Kazakhstan forced out Bitcoin mining operations, the majority of global hash rate is now produced with clean energy.

1.5M houses could be powered by the energy Texas miners returned

Bitcoin miners appeared to be the model consumers for the ancillary services in the state.

Turning Garbage Into Digital Gold: The Rise Of Landfill Bitcoin Mining

Powering bitcoin mining operations with landfill waste is the latest trend in sector growth as miners capitalize on wasted and stranded energy resources.

2022-11-7 19:00

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