May 18, 2021 06:00:00

'Coin Carbon Cap' that makes it possible to understand at a glance the power consumption and carbon dioxide emissions of virtual currencies such as Bitcoin

Bitcoin, a crypto asset (virtual currency), is

generated by data mining that executes programs on a computer, so it requires a lot of power to generate and operate. For this reason, it has been reported that areas with low electricity are used as Bitcoin mining sites. In response to the fact that the power consumption of virtual currencies is regarded as a problem from the viewpoint of global warming, ' Coin Carbon Cap ' that makes it possible to display a list of power consumption and carbon dioxide emissions of each virtual currency has been released. ..

Coin Carbon Cap
https://coincarboncap.com/

In recent years, the value of virtual currencies such as Bitcoin has increased, but in 2018 it was reported that the temperature will rise by 1.5 degrees or more within 20 years due to Bitcoin mining, and there are concerns about the impact on the environment. It has been. Bill Gates also said in March 2021 that Bitcoin has a negative impact on the planet.

Bill Gates says 'Bitcoin has a bad effect on the earth' --GIGAZINE

'Coin Carbon Cap' visualizes how much virtual currencies such as Bitcoin affect the environment.

Coin Carbon Cap is the type of virtual currency in the column, the row is the transaction per megawatt hour from the left, the amount of carbon dioxide per transaction, how much Tesla's model Y can run with the power per transaction, the number of transactions in 24 hours , Median transaction fees per 24 hours, energy usage per 24 hours, and price.

Kind of virtual currency

Bitcoin SV , ethereum , bit coin cache , USD Coin , Tether USD , Uniswap , Chainlink , Litecoin , Dash , Dojikoin , Zcash and bit coin,.

You can sort by item by clicking each item in the row. Sorting by price ...

Bitcoin, Ethereum, Bitcoin Cash, etc. are listed in descending order of price. Comparing Bitcoin and Ethereum, the number of transactions per megawatt hour is 2.1 for Bitcoin and 49.6 for Ethereum, so Ethereum has an overwhelmingly large number of transactions per electric energy compared to Bitcoin. In addition, the amount of carbon dioxide emitted per transaction is considerably different, with Bitcoin being more than 20 times that of Ethereum.

Sorting in ascending order of carbon dioxide per transaction, Bitcoin SV was the least, followed by Ethereum, Bitcoin Cash, ChainLink, and so on.

On the other hand, Hacker News on the Internet bulletin board also points out that the energy consumption of Proof of Work , one of Bitcoin's consensus algorithms, is not proportional to the amount of transactions. In reality, the energy use of cryptocurrencies is largely due to mining rather than transactions, and the popularity of mining depends on the price of cryptocurrencies. For this reason, Bitcoin has the highest energy consumption and carbon dioxide emissions, and the unpopular Bitcoin SV has the lowest energy consumption and carbon dioxide emissions.