In the past year, not exploded, only the value of the Bitcoins, but also its power consumption. A study says that the revolutionary technology behind the digital currency consumed the same amount of electricity as the whole of Ireland.

That digital transactions leave with less electricity to run, prove to the credit card systems of Visa and Mastercard. These only require a fraction of that energy which Transfers are to be for Bitcoin. The difference is that they do not work with a Blockchain.

The Bitcoin is not needed most of the electricity for the execution of a transaction, but for you to Save. “Mining” is the name of this process, in the jargon, and computers all over the world are involved. They rattle and numeracy throughout the day and try as new transactions in the Blockchain. The operator of this Computer are paid for-namely, a Prince – of course, with Bitcoins.

Alternative would

The more the Bitcoin value is, the more the “Mining” of the currency is worth. In the past years, have formed everywhere in the world companies to run entire data centers for this purpose. Such Mining farms there are in Switzerland, some have had to cease operation, in the meantime, however, Here, it is simply not as lucrative as, for example, in Iceland, where the electricity is much cheaper and the cooling of the data centers, virtually for free.

The Bitcoin was the first crypto currency, but he is not the only one. Meanwhile, there are several Alternatives. Many of them have invented new methods to keep the Blockchain with less electricity always up to date.

power consumption decreases with Bitcoin-course

In the case of these new mechanisms is the “Mining” completely and thus also of the immense expenditure of energy. Thus the Bitcoin developers are concerned.

However, Currently the power consumption is not so acute as last year: Because of the Bitcoin prices collapsed, falling, is also worth “Mining” in the meantime, again much less. The electricity often costs more than you can earn. Many data centers are therefore at the Moment still.

In the year 2019 to run on a broad Front of experiments with Blockchain, our everyday life will be massively easier. A VIEW shows a series of what the technology can do, where it is used in daily life and why Switzerland is in the forefront.

Like the Swiss David Marcus, Facebook to the Blockchain era. And As Fake-News with the help of the new technology can be combated.