Behind High Energy Consumption of Blockchain: PoS Consensus Mechanism To Be A Solution
The energy consumption of Blockchain Recently, Elon Musk, the founder of Tesla, posted on Twitter saying that: Bitcoin can consume too much in mining and transaction process, such excessive fossil fuel consumption will result in negative impacts on the ecosystem. The Ethereum co-founder Vitalik Buterin also noticed the high power consumption problem in Blockchain technology. He presented that Ethereum would change its consensus mechanism from PoW to PoS to reduce the power consumption caused by the mining process in PoW-based
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