Many people are bullish about cryptocurrencies like Bitcoin, but cryptocurrency mining is highly energy-intensive. The electricity that is expended in the process of mining Bitcoin has become a topic of heavy debate over the past few years. A University of Cambridge analysis estimated that bitcoin mining consumes 121.36 terawatt hours a year. This is more than all of Argentina consumes. The reason is that the proof-of-work process puts miners in competition with each other. That mechanism is used by miners to confirm and record crypto transactions, providing a greater level of security. In this system, When someone "mines" cryptocurrency, they're actually running programs on their computer that are trying to crack the problem. The greater the power behind your computer, the greater chance you have of winning the right to update the blockchain and reap the rewards.
In brief, the crypto ecosystem needs new, “greener” alternatives.
In this video, we will investigate chia coin, and its innovative Proof Of Space and Time consensus.
Chia is part of the Circular Drive Initiative that reduces e-waste through the secure reuse of storage, promoting the second use of hard drives for Chia farming.
#CHIA #xch
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