ethinkiltsasked Jul 15, 2021 at 6:43am
Why Does Bitcoin Consume Energy?
Bitcoin network has its fault-tolerant proof of work (POW) consensus mechanism that requires Bitcoin miners to solve complex mathematical puzzles to add more Bitcoins to circulation. On the other hand, validators verify all Bitcoin transactions for their authenticity.
All Bitcoin network processes, including Bitcoin mining and transaction validation, require considerable CPU and GPU resources. However, there is a significant difference between these two processes as far as energy consumption is concerned.
Validating Bitcoin transactions is not as energy-intensive as mining Bitcoin. Once a Bitcoin is mined, energy requirements take a drastic nosedive.
Bitcoin miners and transaction validators are rewarded to mine Bitcoin and validate transactions, respectively. Therefore, Bitcoin's popularity has continued to increase over a period, causing a hike in energy consumption naturally. Read more about this see Paraiba World.
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