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Energy

Energy Consumption Of Bitcoin

 

Energy Consumption Of Bitcoin Mining Versus Other Innovations Comparisons

 

" Household tumble dryers in the U.S. consume 108 TWh of energy a year, while Bitcoin uses 62 TWh a year " - Weforum

 

Domestic Tumble Dryers consumes 174% more energy than Bitcoin mining.

 

Source : Weforum

 

 

Energy Consumption Comparison

(% more than bitcoin)

Bitcoin 62 = 1 %

Domestic Tumble Dryers 108 = 174 %                          

Data Centers 204 = 329 %        

Domestic Refrigeration 630 = 1016 %                     

Air Conditioning & Electric Fans 2000 = 3226 %                                     

Marine Transport 3055 = 4927 %             

                                        Aviation Transport 4030 = 6500 % more than bitcoin mining              

 

Source : Weforum            

Carbon Emissions of Bitcoin compared to other industries

" CoinShares published analysis says that mining of BTC is only less than 0.1 % of world co2 production

They said in the report : “ For reference, countries with large industrial bases like the United States and China emitted 5,830 megatons and 11,580 megatons of CO2 respectively in 2016. “

according to them BTC network emitted an estimated 41 metric tons of CO2, which is lower than the global banking industry, gold industry, and every other industry shown below " - Reddit

Bitcoin Lightning Network vs Visa and Mastercard: How do they stack up?

 

Lightning Network’s transaction throughout 

" Payments giants like Visa and Mastercard are used to process payments worldwide. Mastercard’s network is estimated to process up to 5,000 transactions per second, making it far superior to Bitcoin’s seven per second.

Visa’s transaction throughput is even more impressive, being able to process up to 24,000 transactions per second. In a recent interview, Visa chief financial officer Vasant Prabhu said that the network could, in theory, handle up to 65,000 transactions per second.

The Lightning Network goes much further, however, processing up to 1 million transactions per second, making it the most efficient payment system in the world in terms of transaction throughout. " - Cointelegraph

 

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