Author: @madridbg, through Power Point 2010, using public domain images. Alfredo Oquendo
Greetings and welcome dear readers of this prestigious platform, especially to all those readers who make life in the @Leofinance community, this publication is reflective and allows us to continue the topic that we brought to the fore a couple of days ago, which is related to the implications of the blockchain world and the different networks that in this new economic system coexist with the environmental conditions that our planet presents.
We have previously determined that it is necessary for any economic model, whether traditional or based on technological processes, to maintain a substantial balance in three elementary areas of knowledge in the development of life, areas that are They promote from the vision of Sustainable Development, which make mention of an existing balance in the economic and social environment.
Based on the foregoing and as a result of the restrictions placed on the Bitcoin network by large nations such as China and Russia, considering them as a technological process that threatens the development of environmental ecosystems, They have been making updates in order to improve the existing protocols in the blockchain world.
Author: Wilfried Pohnke
So, we are moving from protocols based on work, to a more efficient protocol based on participation, in such a way that substantial results are already being seen in terms of energy consumption, since through the work protocols all the transactions that are executed and consequently it is a process that in a certain way limits the network and consequently increases the energy consumption in each operation that is carried out.
Therefore, based on the mining pools and the ASIC technological processes, a new evolutionary mechanism is being developed in a sustained manner that makes it possible to make the equipment used in the processes more and more efficient. of mining, so that the mining power of the network has been increased, but it has been possible to gradually reduce energy consumption and the best thing is that they have adapted to the use of renewable energies as a mechanism to improve the environmental conditions that They have been developed by the activities of man.
Although energy consumption is still high, we can see that international attacks are focused on the world of cryptocurrencies, which many countries assume that consumption in this business model exceeds demand. from countries such as Sweden, without forgetting that there are companies like Google, YouTube, Amazon, among others, whose energy consumption is above the bitcoin network and these organizations or companies are not attacked for this waste and outburst consumption of energy.
Author: mining council
So it is necessary to ask ourselves questions such as: What is the reason for the attack on the Bitcoin network? From my perspective, the answer to this approach is associated more with the potentialities that the cryptographic economy presents and how it is glimpsed in the future. which is being assumed as a refuge of value that could replace the traditional economic system that is managed centrally worldwide.
However, beyond this thought we must remember that our work is focused on publicizing the advances that are being made from the blockchain world in relation to efficient energy consumption, the which according to the report presented by the bitcoin mining council we can observe that energy efficiency has grown by more than 63% between the year 2021 and the surrounding months of the year 2022.
Traditional economic systems and their energetic relationship with Bitcoin. Author: GUEST AUTHOR
According to the data released by the aforementioned mining council, it is described that more than 64.6% of the energy resources used by the BMC mining group, which represents more than 50% of the Bitcoin hashrate, come from renewable energies, This report also assumes that the growth in data processing of the Bitcoin network has improved by 23% and energy consumption has been reduced by 25%, figures that are related to the measures and updates made based on the transition of protocols and improvement in ASIC equipment.
Therefore, it is expected that as the years go by, the efficiency in terms of energy consumption of the network will increase and even more so when new equipment is being developed with new mechanisms and updates that allow greater efficiency in data processing at lower energy costs.
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