Bitcoin (BTC) Loses to IOTA (MIOTA) on Energy Saving With 5.6 Mln Transactions Against One

News
Mon, 01/27/2020 - 17:50
Yuri Molchan
A study says that IOTA (MIOTA) is much more friendly to the environment as it can do almost 6 mln transactions for every one Bitcoin (BTC) transaction
Cover image via www.facebook.com

Numerous Bitcoin antagonists often point to large power consumption when they want to give BTC a punch and say that its carbon footprint is very big.

A study that comes from Digiconomist, a channel that speaks of digital trends, has shown that the ledger that IOTA runs on, Tangle, needs a great deal less energy to power a single transaction than Bitcoin.

Bitcoin VS IOTA

The flagship crypto can do only one funds transfer with the same amount of power IOTA needs to do 5.6 million transactions.

Digiconomist reports that to perform one transaction, the Bitcoin network requires 637.1 kWh of power. At the same time, for one transaction on IOTA’s Tangle, 0.112 kWh maximum is necessary. With the amount of electricity BTC needs for one transaction IOTA can do 5.6 mln transacions, as per the study.

A person who retweeted the study of Digiconomist, @renewid, writes:

“As of today, one BTC-Transaction consumes 637.1kWh of electrical energy. IOTA uses ~0.112kWh or less per transaction (tx). So for the energy used for one BTC tx you are able to do 5.600.000, 5.6 million tx on the tangle.”

Related
Gavin Andresen of Bitcoin Foundation Named Bad Mistake of Satoshi Nakamoto

The Reddit discussion

This research by Digiconomist was also recently discussed by redditors. One of them pointed out that his Tesla Model S 85D can travel 3,000 km using the same amount of power necessary for one BTC transaction.

Image via Twitter

Another redditor said:

“The enormous scale of IoT devices will definitely result in larger consumption, but with aggregate efficiency we may see a net reduction in total energy as we switch from fossil fuels to solar wind and batteries as they get cheaper with increased investment and produce a lot more data.”

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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