Today I read this article.....
https://www.ccn.com/bitcoins-electricity-usage-could-power-all-of-austria-in-the-future/It says in 2018 Bitcoin mining may consume 0.5% of worlds electricity in 2018.
I think this is because the mechanism "PoW" of Bitcoin. It costs a lot of power. And it looks like this statistics only includes Bitcoin, but there are still other coins can be mined.
I am sure for some people this is not environment-friendly and this could be used as the reason to restrict Bitcoin.
Will this affect the future of Bitcoin? or will there be any new energy-saving mining method for Bitcoin or other coins? How do you think about this?
Well, there is already a so-called "proof-of-stake" (PoS) mechanism that does not require mining equipment at all. This would allow saving tons of electricity and could be a nice alternative for those people who are concerned about our Earth. There are already some coins that use PoS and one of them might become as popular as bitcoin just because of being friendly to the environment