Cardano is also less energy intensive than gold mining or Bitcoin proof of work (PoW)
According to cardano dailyThe Cardano community-focused Twitter account, Cardano may be more energy efficient than PayPal, YouTube and Netflix based on its energy consumption.
A thread of tweets highlights that Cardano is also less energy intensive than gold mining or Bitcoin proof of work (PoW), given its estimated yearly consumption of 0.0027 TWh or 2.7 GWh.
Based on data from Cardano Explorer, Cardano operates on 3,198 pools, which puts its estimated annual consumption at 3.103 GWh, or 0.0031 TWh. On the other hand, given an estimated bitcoin annual consumption of 214,944 GWh, or 214.944 TWh.
This makes Cardano 69,270x more energy efficient than Bitcoin.
As reported by U.Today, IOHK CEO Charles Hoskinson spoke about the stability merits of Cardano in a recent Forbes interview, stating that the proof-of-stake cryptocurrency has significantly more energy than bitcoin. – Was efficient.
As Hoskinson stated, “The advantage of proof of stake is that because you don’t have that gargantuan overhead and energy expenditure for deciding who gets to make a block, it means you can put a lot of your magic in the other two stages.”
However, a CoinShares bitcoin mining report released at the beginning of the year indicated that bitcoin contributed only 0.08% to global carbon dioxide (CO2) emissions in 2021, suggesting that talking about the network’s energy use is little. could be more.
Yoroi wallet prepares for Vasil
The official Yoroi Wallet Twitter account tweeted recently, “We have started to update our servers in preparation for the Vasil hard fork. Users may experience a slow-down in services through this transition.”
Yoroi Wallet is an official crypto lite wallet developed by EMURGO for Cardano ADA and Ergo ERG users.
According to Cardano’s IOG, Vasil remains one of the most complex upgrades it has undertaken to date, hence safety and security are its top priorities.
