The search for a more efficient Bitcoin
The search for a more efficient Bitcoin
As the world looks to conserve, cryptocurrency mining continues to consume energy at an astronomical rate. Might we already have the answer for a more efficient blockchain? Download our report to view our findings.
Blockchain and digital currencies have captivated journalists, evangelists, and critics for the better part of a decade. Their transformative potential notwithstanding, many are concerned about the immense power demands to run blockchain networks and whether they can truly be part of a green and sustainable future.
This gave rise to an important question: Might there already be a more efficient blockchain implementation? MNP decided to investigate.
Our team leveraged work from several existing frameworks as well as industry experts to determine the electricity consumption of Bitcoin Core (“BTC”), Bitcoin Cash (“BCH”), and BitcoinSV (“BSV”). We also validated our energy consumption model with real-world data from cryptocurrency miners.
After running the numbers it’s clear: There is a more energy efficient Bitcoin implementation. We’ve compiled our findings in our whitepaper, The search for a more efficient Bitcoin.
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