Brian McCowan, Zondits staff, 12/6/2022 Cryptocurrency has long been criticized for the outsized energy usage involved in mining new coins and verifying transactions. But now CNBC and other news outlets are reporting that one of the largest cryptocurrency operations, Ethereum, has adopted new algorithms that dramatically decrease energy consumption. The revised system for minting new … Read more
How can blockchain save energy? Here are three possible ways. Written by Ethan Rogers, aceee.org, October 16, 2018. Blockchain is generating a lot of buzz as a promising system to verify and track peer-to-peer transactions in the energy sector. It could have multiple applications although there is still debate about which, if any, will work … Read more
Ryan Pollin, ERS, for Zondits There are lots of things we can say about Bitcoin, and its underlying blockchain technology. Given the cryptocoin’s recent explosion in value (real or perceived), a commensurate explosion in “mining” has caused startling growth in energy demand in data centers. Bitcoin’s blockchain technology uses a proof-of-work model to establish trust … Read more