Electricity of a small country is already used for excavation of the virtual currency "Ethicalam"

ByBTC Keychain

It is a synonym for the virtual currency of the netNext scale after bit coin"Ethereum" that has led to "Ethereum" has continued soaring prices from the first half of 2017 to the middle stage, and in the beginning of 2017 the one ETH (unit of the year) and the Japanese yen rate was about 1000 yen However, on June 13, 2017, it temporarily exceeds the scale of 50,000 yen. Along with this excitement, there are an increasing number of people "mining" Ethicalium by throwing in their PCs and dedicated equipment, but at the same time, the power used for mining is also enormous .

Ethereum Is Already Using a Small Country's Worth of Electricity - Motherboard
https://motherboard.vice.com/en_us/article/d3zn9a/ethereum-mining-transaction-electricity-consumption-bitcoin

Virtual currency analysis site ·DigiconomistAccording to the situation announced by Alex de Vries, the electricity consumed for mining 1 ETH as of the end of June 201745 kWhAnd that. This is equivalent to 1.5 days of electricity consumed in common households. Mr. de Vries lists the electricity consumed for trading Visa cards for comparison, but the figure is 0.00651 kWh, which is not the point of "not the difference".


Mr. de Vries also figures out the electricity consumed by the company in various statistics, but the result is 4.2 tWh (4.2 tera watt hours) per year. This is larger than the total annual power consumption of Brunei, Cyprus, Cambodia and so on.


Just like bit coins, Ethernet has a mechanism that enables you to discover the newly created "Ether" by calculating the processing of the entire protocol. From the viewpoint of cost effectiveness, we will decide whether to invest in mining equipment with the balance between the cost of preparing machines for processing and the asset value of Ether that can be acquired. However, Thanks to that, that momentum seems to continue to increase.

It is increasing electricity consumption as the price rate rises, but it is said here that the company has a different coordination mechanism than bit coin. In the case of bit coins, we will do a very large amount of processing at each transaction for the purpose of preventing counterfeiting of coins. This process is carried out by mining equipment operated by bit coin miners all over the world, but the validity is secured by the amount of this processingProof of WorkIt has become a mechanism. In other words, it can be said that Proof of Work secures correctness by turning off the processor, but of course it requires more power.

In the case of one of the companies, the structure of Proof of Work is adopted at the present time, but from now on gradually another mechanism "Proof of StakeIt is said that it will be replaced with. According to Mr. de Vries, "Ether owner will be able to mining just by connecting each computer," and the power consumed when the system is completely converted to Proof of Stake is "almost De Vries says when it goes down to the level to be ignored.