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IOTA has a strong case for being one of the greenest cryptocurrencies, working with names likes Zebra Technologies and Jaguar Land Rover on projects tackling climate change

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by COINS NEWS 300 Views

A 2020 peer-reviewed IEEE paper noted that one bitcoin transaction uses 651 kWh, while IOTA uses 0.00016 kWh, meaning IOTA is ~4 million times more energy efficient. Since then, Bitcoin’s power consumption has increased to 1120.16 kWh per transaction and IOTA has reduced its power consumption significantly with the recent Chrysalis network upgrade. (Note: This calculation only considers proof of work and does not take into account the power consumption of running an IOTA node, but its inclusion does not change the order of magnitude).

IOTA is doing all sorts of things in the green energy space. Here are a few of the highlights:

IOTA often gets forgotten about in these sorts of conversations. But the Tangle is feeless, lightweight and there are no miners. It is designed for use cases where data transparency and integrity are important, which is why it can support the sorts of things listed above.

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