bitcoin energy consumption

Tracking Electricity Consumption From U.S. Cryptocurrency Mining Operations

Electricity demand associated with U.S. cryptocurrency mining operations in the United States has grown very rapidly over the last several years. Our preliminary estimates suggest that annual electricity use from cryptocurrency mining probably represents from 0.6% to 2.3% of U.S. electricity consumption. 1 This additional electricity use has drawn the attention … [continued]

What Is Consensus? (Blockchain Report Excerpt)

The entire blockchain concept is a solution to a computer science problem from the 1970s that was formalized in 1982 as the Byzantine Generals’ Problem. At heart, it’s a question of how a bunch of systems can collaborate with trust when malicious actors are trying to disrupt the system. Proof-of-work and proof-of-stake are different solutions on top of blockchain to that problem.