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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

#72

Post by hn_throwaway_99 »

toomim wrote: post #36

As a Bitcoin miner ( https://toom.im ), while I appreciate the work put into it, this particular metric of "transactions per kW" might not work the way you expect. The main point that you should understand is that a PoW blockchain's energy usage is not proportional to its transactions. I'll say that a different way: the transactions themselves do not use any energy in mining. I'll say this in a third way: it takes ex…

> In steady state, miners will dump energy into mining a coin until the cost of energy = the value of the coins coming out.

Exactly, that's why if you're using this list to somehow decide coin X is more "efficient" than coin Y, then it's a foolhardy exercise.

For proof of work to actually work, the cost of the electricity has to be proportional to the total market cap of the coin. Otherwise, if the amount of work was low compared to the value of the network, it would be a strong incentive for someone to try to attack it.

Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency

#73

Post by bhaak »

danielvf wrote: post #3

Cool 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.

USDT does not run solely on Ethereum. Currently it's about 50:50 Ethereum and Tron (of all things!). https://wallet.tether.to/transparency

USDC is likewise a multichain stablecoin (Ethereum, Stellar, Algorand, and Solana) but I couldn't find information on how much is on each chain.

Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency

#75

Post by 988747 »

chrisco255 wrote: post #31
onlyrealcuzzo wrote: post #8

Earlier quoted context omitted.

Am I reading something wrong? To me, it looks like it is saying that Bitcoin uses 830kWh and Ethereum uses almost 38 times that. Considering >1% of the world's energy is used by Bitcoin - it seems virtually impossible for Ethereum to use 38x more energy...

Bitcoin SV is a barely used esoteric fork of Bitcoin with a $5.5B market cap. It's a cash grab from a minority fork of BTC or BCH miners.

It is fun to see something with $5.5B market cap being called "esoteric" and "barely used". I wish I had a side project with similar market cap :P

Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency

#76

Post by adflux »

everfree wrote: post #17
huntertwo wrote: post #4

This 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.

Disclaimer: you own bitcoin

Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency

#77

Post by noxer »

makomk wrote: post #54
noxer wrote: post #53

From the FAQ Page: >What about Ripple/IOTA/...? >As with Proof of Stake we are aware of no existing, alternative protocol that has solved the problem of distributed consensus. Usually these approaches have resulted in some form of centralized authority becoming an important factor in the security model. >Of course a centralized systems can achieve a far greater energy efficiency. Here we want to compare only distribu…

Ripple is pretty much fully centralised last I checked - there's a list of nodes controlled by the company and a few other companies involved in setting it up which decide which version of transaction history is valid, and nodes outside that list have no say in their decisions. In theory you can use your own list of nodes, but it's a bad idea to ever do so. Since who you choose to trust has no effect on the Ripple-sa…

Did you read the post? Ripple is a company ofc its centralized.

The XRPL is the "blockchain" and its NOT controlled by Ripple. They maintain the open source code that does not give any control over the running network at all.

>Ripple-sanctioned set of transactions

Thats a made up thing. There is not a single Tx that has ever been "sanctioned" on the XRPL Its also simply not possible. You are completely misinformed or intentionally spreading FUD. The time when Ripple ran the whole network is long gone.

Re: Coin Carbon Cap – PoW cryptocurrencies ranked by energy efficiency

#79

Post by jreese »

Judgmentality wrote: post #69
viraptor wrote: post #63

Earlier quoted context omitted.

People have largely switched already. Py2 is gone from default installs these days. So yes, even if it takes a while, people often do switch to better solutions.

https://dev.to/hugovk/python-version-share-over-time-6-1jb8 It seems like Python 2 is still pretty prevalent, with over 40% of new downloads taking place as of last year. And people forget Python 3 was originally introduced in 2008. So the transition is taking decades, not years. The last place I worked was still using Python 2 as of last year, and they were a startup without all the bureaucracy of a big company. The…

PyPI stats for "six", the second most popular package, that's used for 2/3 compatibility in tons of libraries, shows 80% of its millions of daily downloads are for Python 3. [1] The proportion for "requests", a building block for a ton of long-standing packages, is even higher.

Anyone using Python 2 at this point are either supporting legacy software, getting their runtimes/packages from distros rather than PyPI, or otherwise completely checked out of the modern Python ecosystem.

1: https://pypistats.org/packages/six

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