Why did crypto mining once consume as much electricity as an entire country?
I think of proof of work as an exam: whoever solves the test first gets to add a new page to the ledger and receive a reward. The more people taking the exam, the harder it is for a cheater to sneak in—but the whole exam hall has to keep its lights on. That’s just my analogy, not investment advice. $ETH switched off this mechanism in 2022.
Source: ethereum.org
Do you think that kind of security is worth using that much electricity for?
#Ethereum #ProofOfWork #Blockchain
I think of proof of work as an exam: whoever solves the test first gets to add a new page to the ledger and receive a reward. The more people taking the exam, the harder it is for a cheater to sneak in—but the whole exam hall has to keep its lights on. That’s just my analogy, not investment advice. $ETH switched off this mechanism in 2022.
Source: ethereum.org
Do you think that kind of security is worth using that much electricity for?
#Ethereum #ProofOfWork #Blockchain