Altcoins Talks - Cryptocurrency Forum

Learning & News => News related to Crypto => Topic started by: newshunter on August 08, 2020, 01:00:28 PM

Title: Altcoins Account for One Third of Total Crypto Mining Power Usage
Post by: newshunter on August 08, 2020, 01:00:28 PM

Altcoins Account for One Third of Total Crypto Mining Power Usage

An analysis of the 20 largest crypto assets by market cap determined that Bitcoin mining accounted for only 66% of total power consumption.

Source: Altcoins Account for One Third of Total Crypto Mining Power Usage (https://cointelegraph.com/news/altcoins-account-for-one-third-of-total-crypto-mining-power-usage)

Would appreciate your opinion about this

Title: Re: Altcoins Account for One Third of Total Crypto Mining Power Usage
Post by: MrSpasybo on August 08, 2020, 02:30:42 PM

I think it is not feasible to use gas during oil extraction to maintain BTC miners, as we need connections between oil companies and power generation companies and mining farms. Perhaps clean energy like solar and wind will be simpler and more accessible to miners.
The idea of ​​converting BTC's consensus protocol from POW to POS is also worth considering.

Title: Re: Altcoins Account for One Third of Total Crypto Mining Power Usage
Post by: Astra on August 15, 2020, 05:54:30 AM

It seems to me that in the future this figure will continue to fall, since altcoins are developing much faster, they are becoming more convenient to use and more in demand. At the same time, mining bitcoin every four years is becoming less profitable.