It’s no secret that Bitcoin is a power hog. The least CPU-friendly cryptocurrency is actually a fork of Bitcoin called Bitcoin Cash. Bitcoin Cash was created to address the scalability issues of Bitcoin. Transactions on the Bitcoin Cash network are confirmed faster and there are no limits on the number of transactions that can be processed. However, the trade-off is that Bitcoin Cash is much more resource intensive to run. In order to keep the Bitcoin Cash blockchain running, miners need to have powerful computers with fast processors. This is why Bitcoin Cash is often referred to as “Bitcoin on steroids”. The Bitcoin Cash network is currently the most active blockchain, processing more transactions than all other blockchains combined. This is due to the fact that Bitcoin Cash has lower fees and faster confirmation times. However, all this activity comes at a cost. The Bitcoin Cash network currently consumes more electricity than the entire country of Ireland. If Bitcoin Cash were a country, it would rank as the 41st most electricity-hungry nation in the world. The high energy consumption of Bitcoin Cash is due to the proof-of-work (PoW) consensus algorithm that it uses. PoW is the most secure way to confirm transactions on a blockchain but it is also the most energy intensive. To put it simply, the more activity there is on the Bitcoin Cash network, the more electricity is required to keep it running. This is why some people have raised concerns about the sustainability of Bitcoin Cash in the long term. It’s important to note that the energy consumption of the Bitcoin Cash network is not wasted. The electricity is used to power the computers that confirm transactions and secure the network. Without Bitcoin Cash, these computers would be idle and the electricity would be wasted. So, in a way, Bitcoin Cash is actually helping to reduce the amount of energy wasted each day. The high energy consumption of Bitcoin Cash is not without its critics. Some people believe that the proof-of-work consensus algorithm is not sustainable in the long term. Others believe that the high energy consumption is worth it in order to keep the Bitcoin Cash network secure. Only time will tell if Bitcoin Cash can continue to grow without putting too much strain on the world’s energy resources.
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