Bitcoin [BTC] uses 8.48 million times more energy than Nano [NANO], per transaction, says Nano’s marketing team.
Nano is a low latency payment platform and recently the NANO marketing team released a video in which Nano’s low carbon footprint, and its zero-transaction fee and the instant transaction capabilities were highlighted.
— Nano (@nano) June 6, 2018
One transaction on the Nano network would only take 0.000112 kWh. For reference, the average PC runs on 0.2 kWh, including a printer and loudspeakers. On the other hand, Bitcoin uses up 950 kWh per transaction. That is more than an average American household would consume in an entire month.
The video above shows an image of Nano’s energy consumed per transaction versus Bitcoin’s energy consumption. The sizes of the two line up much like how an animation about the size of the Earth and the size of the Sun would look.
The energy consumption happens because cryptographic hashes are meant to be solved in order to verify a transaction on the blockchain. Once upon a time, an everyday PC could crack these codes. But the complexity of the code grew, as the number of BTC in the network grew. Right now, specialized hardware that cost thousands of dollars is required to efficiently mine BTC.
These hardware pieces also use up enormous amounts of energy. However, BTC is so valuable right now, the skyrocketing electricity costs are just a minor nuisance for miners.
Manoj Ajinkya S a Nano holder says,
“This does not appear sustainable. In a time of rising sea levels and global warming, and when we haven’t yet phased into completely green energy production. This is why BTC mining could leave a huge carbon footprint, because the energy required to power the device mostly comes from thermal plants, which emit CO2. People who can’t see past cryptocurrency might shrug this cost off, retorting that this is the cost of doing business. The community at large, however, must keep in mind the threat looming on all our horizons.”
Twitter user Blawks Crypto tweets,
“Nano is a game changer . “
guil5566 on Reddit, says,
“NANO marketing focusing on being green, I love it <3
Great job core team! “
Edward Zhang a Bitcoin investor says,
“Anyone with 2 shit coins will produce garbage to support their propaganda. Bitcoin is king, yes ironic statement just after what I said but if BTC rules the earth then it’s not a waste. No one uses Nano”
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