Bitcoin Mining Energy Consumption And Other Bitcoin Research Papers
Welcome to the first article on Bitcoin Research Papers or, as we will call them here, BitPapers. As you may recall, Gavin Andresen recently resigned from the Lead Developer post, stating that: "Today, I find it harder and harder to keep up with all of the great Computer Science or Economics papers related to bitcoin and other crypto-currencies; in just the last week Mr. Google told me about 30 new papers I might be interested in reading." Many of these papers, unfortunately, go unreported, despite some very interesting findings, because they are not a full article newsworthy. These series....
Related News
Data shows the Bitcoin mining industry consumes slightly less energy in total compared to the video gaming sector. Bitcoin Mining Energy Consumption Stands At 100 TWh Per Year Right Now According to a recent report released by Arcane Research, while the BTC mining energy consumption has grown significantly in recent years, the industry still makes […]
There is no denying the fact that mining cryptocurrencies and processing decentralized transactions demand large amounts of energy. As per the Bitcoin Energy Consumption Index, the total energy consumption of the Bitcoin network tops 131.12 TWh – that’s almost equal to the total power consumption of Argentina. Experts claim that the energy consumption and electronic […]
One major argument against Bitcoin is the amount of energy used in mining new blocks. Regulators have gone all out to curb the proof-of-work blockchain’s energy consumption and reduce its environmental impact. However, the latest findings show that Bitcoin mining energy usage only accounts for a small portion of the world’s energy production. The Bitcoin […]
Bitcoin may be a significant energy consumer in 2040, but only if its price reaches several million dollars, according to new estimates by Arcane Research. Bitcoin (BTC), the world’s most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars, according to new estimates by Arcane Research.Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin’s energy usage toward 2040.Authored by Arcane Research analyst Jaran Mellerud, the report points out that....
Electricity consumption has been one of the major concerns with the advent of cryptocurrencies especially Polkadot. Though with models running with the Proof-of-Stake (PoS) consensus mechanism, this electricity use seems to be minimal since their process for transaction validations is staking. But the story is not the same for those running with Proof-of-Work (PoW) such as Bitcoin. Mining is the associated process through which the PoW models could validate their network transactions. However, the process consumes lots of electricity as it uses highly computational equipment to solve....