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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

#161

Post by gruez »

thescriptkiddie wrote: post #68
GBiT wrote: post #19

Earlier quoted context omitted.

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.

> you will get richer every day by doing nothing I have some bad news for you about the dominant economic system.

Investors take risk, perform price discovery which helps allocate capital. Stakers comparatively do very little.

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

#163

Post by takeda »

Total noob, but I'm wondering since generating the blockchain (at least with bitcoin) is about finding match (or should I say) partial match of a specific hash.

Could that information be somehow used to cracking encryption that relies on cryptographic hashes?

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

#164

Post by takeda »

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…

That statistics end at most interesting time: December 2019.

Starting with January, python 2 was officially EOL, and many packages dropped support for it. Right now developing for Python 2 is kind of tough, because most dependencies won't work.

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

#165

Post by wyager »

dane-pgp wrote: post #136
wyager wrote: post #110

Earlier quoted context omitted.

Network participants are free to ignore the results of provably random selection procedures and “re-roll”. In general there is no known way to impose real cost on protocol violations like this. This is the genius of PoW; it uniquely associates real-world expenditures with protocol actions. It’s probably impossible to replicate this in a more efficient, but still secure and reliable, way.

I'm not sure if this is how it works, but it should be possible to avoid the "re-roll" problem: Each node picks a random value, and publishes the hash of it to the blockchain, then, when the network has reached finality on what all the hashes are, the nodes publish the random values themselves, and the network takes the XOR of all of them.

Nodes can simply choose not to publish their value if the result is unfavorable to them, and this tanks the whole procedure. This isn’t a problem unique to your scheme; they all suffer from things like this.

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

#166

Post by gruez »

noxer wrote: post #88
fastball wrote: post #55

Earlier quoted context omitted.

Does XRPL no longer have a unique node list that is mostly under the control of Ripple (because they maintain the default that clients automatically use)? https://cryptobriefing.com/is-xrp-decentralized-ripples-invo... Could the system still be decentralized in practice? Sure. But the fact that the Ripple CTO claimed XRP might be more decentralized than BTC or ETH makes me take the rest of their claims with huge buck…

Unique node lists (UNLs) are simply lists of nodes someone provides that they think meets their standards. Everyone can publish an UNL, it doesn't give any power or requires any privilege. If you run a node you can use one or many UNLs or make you own. There are 3 UNLs published at the time of writing. https://xrpl.org/technical-faq.html#what-are-unique-node-lis... >Ripple CTO claimed XRP might be more decentralized…

>Unique node lists (UNLs) are simply lists of nodes someone provides that they think meets their standards. Everyone can publish an UNL, it doesn't give any power or requires any privilege. If you run a node you can use one or many UNLs or make you own.

doesn't using your own UNL basically equate to a hard fork in the event that the nodes don't agree?

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

#167

Post by takeda »

dcolkitt wrote: post #101
dvh wrote: post #33

Earlier quoted context omitted.

Python 3 is better than python 2 and people will soon switch.

Well if Python 2 had a logic bomb that literally makes it unusable after the end-of-life date, that would be true.

It kind of has.

I mean if you don't touch your code it will continue to work but if you have to maintain it, you quickly realize that a lot of your dependencies will refuse to work.

It might be easy to fix them to work again, but with time it will be more and more work to do.

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

#168

Post by gruez »

yjftsjthsd-h wrote: post #37
zdragnar wrote: post #21

Earlier quoted context omitted.

Might be. If the hydro generator isn't supplying enough energy to the local area because of BTC, then presumably a higher load falls on petro energy to fill in the gap in supply. That influences the global market a tiny amount. Your power bill likewise is affected, presuming your provider has any petro in its supply mix, which it likely does (even if only as a backup). The impact is tiny to nonexistent at a scale of…

Or more succinctly: Electricity tends to be fungible and move over geographically large networks, so most of it is probably interchangeable even over large areas/distance.

It really isn't. Quebec has rock bottom prices for electricity but 250mi away in boston the electricity cost several times more.

https://www.hydroquebec.com/data/documents-donnees/pdf/compa...

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

#169

Post by arcticbull »

wpietri wrote: post #145
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…

> A better metric would be "energy use per double-spend that was prevented." Not for a general audience. The purpose of a currency is to enable transactions. Internally, I get why people involved might fuss about the metric. But from the societal perspective it's reasonable to ask, "What does it cost per unit of value created?"

Further the purpose of mining is to enable mutations to the chain as quantized into transactions. If you stop permitting mutations energy use drops to zero, ergo energy use per transaction is totally reasonable.

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

#170

Post by 22c »

chrisco255 wrote: post #29
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.

Are they double-counting the Ethereum tokens like Chainlink, Uniswap, etc? Ethereum hashing inherently includes ERC20 transactions. ERC20s are just state changes on the Ethereum blockchain and don't affect hashing use or non-use.

It's not really clear how any of this is calculated, considering the vast majority of USDC and USDT transactions occur off chain.
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