With this in mind, members of the Ethereum community have attempted to calculate the energy consumption of Ethereum during the transition to PoS. This transition (called “The merge”) will normally be completed in the first quarter of 2022 and will bring many improvements that have been theorised for several years. Although Ethereum is still running on PoW to date, the transition to PoS is underway. The annual consumption of the Ethereum network is estimated at 74.6 TWh. The recent exodus of Chinese miners led to a drop of more than 50% in the hashrate.Įnergy consumption per transaction: significant (estimated at about 62.5 KWh) Finally, the energy consumption of the Bitcoin network is particularly variable and many events can indeed change the computing power needed for block validation (hashrate).
In this context, the Bitcoin network optimises the ratio between energy consumption and production and reduces the risk of energy waste worldwide. Mining is an effective way to regulate the power generation market by using surplus renewable energy from certain isolated geographical areas (Kazakhstan, Russia, El Salvador, and others). A recent survey by the Bitcoin Mining Council confirms this study and reveals that 56% of the energy spent on mining is renewable. Indeed, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI), an increasing share of Bitcoin’s total electricity consumption comes from renewable energy sources (hydro, solar and wind). On the other hand, it should be noted that the energy consumption of the Bitcoin network does not reflect its environmental footprint. The annual energy consumption of the Bitcoin network is estimated to be between 90 TWh and 160 TWh depending on the studies and methodologies adopted. The data on energy consumption per transaction is taken from the TRG Data Center study: significant (estimated at around 707 KWh) On the other hand, such data makes it easier to compare different blockchain networks, regardless of their consensus protocol. The following protocols have been selected in a comprehensive manner:Įnergy consumption per transaction Data on the energy consumption per transaction of a blockchain network does not fully reflect the energy consumption of these technologies. This article aims to study the environmental footprint of the main blockchain networks within the ecosystem. Many initiatives are emerging to mitigate the energy consumption of blockchain networks. The energy consumption of the crypto-asset industry is lower than that of traditional industries. While some protocols (notably Bitcoin) have a high energy consumption, the energy spent in the validation of transactions is, very often, renewable.Most of the project leaders are embarking on a policy of decarbonisation, and some are aiming to achieve carbon neutrality. Among the 10 largest blockchain networks, the vast majority have adopted a validation protocol that consumes little electrical energy.La thèse selon laquelle les développeurs de projets blockchain ne prennent pas en compte l’impact environnemental lié à la consommation d’énergie est discutable : Due to the numerous studies conducted regarding the energy consumption of crypto-assets, the results may vary depending on the methodologies adopted. It is thus illustrated that there can be no general statement and that a granular analysis, depending on the technological characteristics of these networks, is necessaryEstimates derived from this classification should be interpreted with caution. The proposed classification presents the energy consumption of the main public blockchain networks according to the protocol on which they operate. Indeed, many use cases related to blockchain technologies and crypto-assets tend to improve the environmental footprint of these decentralised networks, in particular by using the surplus of decarbonised energy in certain geographical areas where the need for electricity is lower than the level of production. In its previous article on the ecological impact and challenges of blockchain technologies, Adan qualified the debate on the energy consumption of the various blockchain networks and recalled that the energy requirement of these technologies depends on their consensus protocol and the number of users of the network.įurthermore, the energy consumption of a blockchain protocol should not be equated with its environmental footprint. In recent months, the idea that blockchain technologies and crypto-assets consume an excessive amount of electricity has been at the heart of discussions.
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