RE: Cryptocurrency Will Be One Of The Biggest Stories In The 2020s

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It is interesting to think about where we will be at the end of the decade. Crypto is in a huge state of growth and development. I do hope the crypto world goes away from the proof of work concept sooner than later. It is very energy intensive and wasteful.

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I do hope the crypto world goes away from the proof of work concept sooner than later. It is very energy intensive and wasteful.

How is it wasteful? It is going to secure a network with billions of dollars in transactions.

How much energy does Visa or Goldman Sachs or Facebook use? How much are we using on Hive?

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At least how I understand it, for POW coins like bitcoin and ethereum miners maintain the blockchains and nearly 100% of the work done is essentially busy work to show proof of work. In contrast, Hive is run by nodes which do nothing but maintain the block chain. No busy work, just useful work. All the transactions done on Bitcoin could probably be done on Hive for the power it take to run a single home, where as Bitcoin mining alone is estimated to use as much enough as not so small countries. https://www.marketwatch.com/story/after-recent-price-spike-the-energy-to-produce-bitcoin-could-power-a-country-of-more-than-200-million-people-11609244670

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