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Difference between revisions of "Proof of Work (PoW)"
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==Environmental Concerns== | ==Environmental Concerns== | ||
Proof of Work consensus algorithm blockchains such as Bitcoin and Ethereum have come under public scrutiny and criticism because of the high power consumption to run the network. University Cambridge research showed that the largest PoW blockchain, Bitcoin accounts for 0.6% of the global energy consumption. <ref> https://medium.com/oasis-protocol-project/proof-of-work-vs-proof-of-stake-which-is-better-for-the-environment-d6ca69a61411 | Proof of Work consensus algorithm blockchains such as Bitcoin and Ethereum have come under public scrutiny and criticism because of the high power consumption to run the network. University Cambridge research showed that the largest PoW blockchain, Bitcoin accounts for 0.6% of the global energy consumption. <ref>https://medium.com/oasis-protocol-project/proof-of-work-vs-proof-of-stake-which-is-better-for-the-environment-d6ca69a61411</ref> | ||
== Sources: == | == Sources: == | ||
https://fintechmagazine.com/financial-services-finserv/140-blockchain-and-crypto-words-ultimate-z-glossary | https://fintechmagazine.com/financial-services-finserv/140-blockchain-and-crypto-words-ultimate-z-glossary | ||
[[Category:Glossary]] | [[Category:Glossary]] | ||