E Point Perfect

Cardano Outperforms PayPal and Netflix with Lower Energy Consumption: Details

article image

Tomiwabold Olajide

Cardano is also less energy intensive than gold mining or Bitcoin proof of work (PoW)

According to Cardano daily, a Cardano community-focused Twitter account, Cardano might be more energy efficient than Paypal, YouTube and Netflix based on its energy consumption.

A thread of tweets highlights that Cardano is also less energy intensive than gold mining or Bitcoin proof of work (PoW), given its estimated yearly consumption of 0.0027 TWh or 2.7 GWh.

Based on data from the Cardano explorer, Cardano runs on 3,198 pools, which puts its estimated yearly consumption at 3.103 GWh, or 0.0031 TWh. On the other hand, the estimated Bitcoin yearly consumption is given at 214,944 GWh, or 214.944 TWh.

This makes Cardano 69,270x more energy efficient than Bitcoin.


Energy Consumption
Energy Consumption Bitcoin & Cardano, Courtesy: Cexplorer.io

As reported by U.Today, IOHK CEO Charles Hoskinson gushed about Cardano’s sustainability virtues in a recent Forbes interview, asserting that the proof-of-stake cryptocurrency was significantly more energy-efficient than Bitcoin.

As Hoskinson stated, “The advantage of proof of stake is that because you don’t have that gargantuan overhead and energy expenditure for deciding who gets to make a block, it means you can put a lot of your magic in the other two stages.”

However, a Coinshares Bitcoin mining report released at the start of the year indicated that Bitcoin only contributed 0.08% of global carbon dioxide (CO2) emissions in 2021, suggesting that talking points about the network’s energy usage may be a little bit overstated.

Yoroi wallet prepares for Vasil

The official Yoroi Wallet Twitter account tweeted recently, “We have started to update our servers in preparation for the Vasil hard fork. Users may experience a slow-down in services through this transition.”

Yoroi Wallet is an official crypto light wallet developed by EMURGO for Cardano ADA and Ergo ERG users.

According to Cardano’s IOG, Vasil remains one of the most complex upgrades it has undertaken to date, hence safety and security are its top priorities.

Source link

Related posts

30% of Shiba Inu Holders Are Now Holding for Long-Term Reasons: Report

Dawn Zuniga

Ethereum (ETH) Is Rapidly Outflowing from Exchanges, Figures Are Record-Breaking

Dawn Zuniga

Court Orders Liquidation of Three Arrows Capital

Dawn Zuniga

Crypto Market Review, August 17

Dawn Zuniga

KLEX Finance Launches Raid on Klayswap to Siphon Liquidity

Dawn Zuniga

Bitcoin (BTC) Price Analysis for August 14

Dawn Zuniga