Energy consumption is a major concern for the least crypto-currencies. While people are complaining about the levels of energy consumed by the crypto-threatening cryptocurrencies; mainly Bitcoin, EOS, a Proof of Stake delegated cryptography [DPoS], boasts extremely low amounts of energy compared to Bitcoin and Ethereum.
Reportedly, the electricity consumed by a Bitcoin transaction can feed 1.57 American families. While trying some work [PoW] cryptocurrencies require huge amounts of energy for mining coins PoS cryptocurrencies only require less energy. According to a relationship from the Eoswriter, EOS consumes much less energy while extracting / forging alone compared to Ethereum and Bitcoin.
The report compares the extraction costs between Bitcoin, Ethereum and EOS. The report indicates that Bitcoin consumes an annual energy rate of 73.12 TWh [Terra Watt hour]. Ethereum, on the other hand, consumes 18.96 TWh of energy per year. The report suggests that EOS is 66,000 times more energy efficient than Bitcoin.
EOS energy consumption under control
EOS has 21 producers of fixed blocks [BPs] and 53 producers of waiting blocks. These Bps stands can only begin to create blocks once they are elected by the community. On average, a single-block manufacturer requires 1.8 kW for 24 hours, which implies that a BP consumes 3196 kWh per day. Therefore, the annual use of electricity reaches up to 1,137,776 kWh. When converted into TWh, EOS consumes energy equal to 0.0011 TWh per year.
"[EOS is] 66.454 times more Energy Efficiency than Bitcoin and 17,236 times more Energy Efficiency than Ethereum " read the report.
Numerous studies show that the Proof of Stake algorithm is an ecological and economic way to extract / falsify cryptocurrencies. Ethereum is currently trying to move from PoW to PoS due to energy problems. In addition, energy costs are paid with fiat coins that contribute to the loss of cryptocurrency values.
Image via Shutterstock