This is a solid idea, but needs more currencies like Cardano and Polkadot that claim energy efficiency as their strength
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Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
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Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#12Cool chart! Interesting to see how much of an outlier Bitcoin is. The middle tier currencies in this list (USDC, USDT, etc) are built on Ethereum, so once Ethereum finishes its switch over to proof-of-stake, both they and Ethereum will drop down to almost nothing in terms of power used per transaction.
> so once Ethereum finishes its switch over to proof-of-stake Isn't there a lot of uncertainty as to how well proof-of-stake will work?
ETH2 (proof-of-stake) already has 16 billion dollars of ETH locked into it, and has been running for months. The proof-of-stake switchover seems to be on a good track and should work form technical standpoint.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#13if a huge hydro power generator in a remote location on a far away continent wastes local energy, does my city power bill go up? because of BTC ? tell me more
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#14Mildly off topic question: If one had Bitcoin in an exchange instead of an offline wallet, does that mean that when forks occur, the exchange does not give you coins in the fork? Also, what about PoS coins? Aren't those vastly more efficient than any of these?
That depends on the exchange. Some of them do, if the fork eventually becomes very popular. It's not anything to count on though.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#15Mildly off topic question: If one had Bitcoin in an exchange instead of an offline wallet, does that mean that when forks occur, the exchange does not give you coins in the fork? Also, what about PoS coins? Aren't those vastly more efficient than any of these?
> If one had Bitcoin in an exchange instead of an offline wallet, does that mean that when forks occur, the exchange does not give you coins in the fork?
In most cases you do get new coins post-fork. Exchange will announce whether they support the fork or not before it happens, so you can react.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#16You've left out PeerCoin (PPC) the original PoW cryptocurrency which has been in constant operation and development since 2013. It is by far the most energy efficient, as that was one of the main goals in the design of PeerCoin.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#17This is a solid idea, but needs more currencies like Cardano and Polkadot that claim energy efficiency as their strength
PoS-based cryptocurrencies use thousands of times less electricity than PoW-based ones, so all PoW cryptos would be above all PoS cryptos in the ranking. It wouldn't be an interesting chart.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#18You've left out PeerCoin (PPC) the original PoW cryptocurrency which has been in constant operation and development since 2013. It is by far the most energy efficient, as that was one of the main goals in the design of PeerCoin.
Original PoS cryptocurrency, I think you mean.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#19Cool chart! Interesting to see how much of an outlier Bitcoin is. The middle tier currencies in this list (USDC, USDT, etc) are built on Ethereum, so once Ethereum finishes its switch over to proof-of-stake, both they and Ethereum will drop down to almost nothing in terms of power used per transaction.
We will see how proof of stake will work, and in FAQ is a paper about it. POS have one big problem, that you only have to buy coins once and stake them and you will get richer every day by doing nothing without any additional investment. Basically it will make rich richer and more centralized. We will see how it will works in future.
Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency
#20if a huge hydro power generator in a remote location on a far away continent wastes local energy, does my city power bill go up? because of BTC ? tell me more
FTFY: If a huge coal power station emits tons of CO2 to mine funnycoins for cryptobros, will the sea levels still rise?