"Im sure most of you have seen the news about Bitcoins energy consumption. For instance, in Iceland, more energy is used to mine Bitcoin than to power peoples homes and per day the global Bitcoin network now consumes more energy than Ireland. Hence, we chose to build on the Stellar network as it is the most environmentally friendly blockchain available. For comparison, a transaction on the Stellar network only uses 0.03 Wh whereas VISA uses 1.69 Wh per transaction. Clearly, the Stellar blockchain is the perfect technology partner for our platform."
Read morehttps://datafloq.com/read/amp/blockchain-can-save-climate-poseidon/5235?__twitter_impression=true
Stellar and Visa can save energy because they are centralized services, nowadays, we have a
proof-of-stake solution to make Blockchain more environmentally friendly without the need to become centralized
Can you explain what is "proof-of-stake"?I`ve never understood those proof-of-work or proof-of-whatever type of terms,when it comes to blockchain technology.I`m not very tech savvy nad I don`t want to go further and understand how every blockchain works.
Why do people always focus on energy consumption?It`s not about the consumption.It`s about the method of producing electricity.We need more green energy technologies.
People always focus on energy consumption because it may cause alot of problems to the concerned coins especially Bitcoin (Per example,mining gets banned in some countries,Rise in price of electricity due to high demand like it happened with gaming graphic cards that were massively used to mine cryptonight coins).I don't see Bitcoin using POS,an environmentally friendly consensus,but instead I see mining farms using renewable energy to reduce the costs in long-term and solve the problem of high consumption.