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Which of the following statements about energy consumption is false? Together, Bitcoin and Ethereum (another popular blockchain-based platform and cryptocurrency) consume more energy per year
Which of the following statements about energy consumption is false? Together, Bitcoin and Ethereum (another popular blockchain-based platform and cryptocurrency) consume more energy per year than Israel and almost as much as Greece. Another enormous electricity consumer is the blockchain-based cryptocurrency Bitcoin-processing just one Bitcoin transaction uses approximately the same amount of energy as powering the average American home for a year. The energy use comes from the process Bitcoin "miners" use to prove that transaction data is valid. According to a recent article, energy use for processing data in 2015 was growing at 20% per year and consuming approximately three to five percent of the world's power
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