Tron Uses Nearly 100% Less Energy Than Bitcoin and Ethereum, Study Shows | Bitcoinist.com (2024)

FAQs

Does ethereum use less energy than Bitcoin? ›

Some of the largest cryptocurrencies, like Litecoin, Dogecoin, and Ethereum, use a lot less energy for mining than the Bitcoin network.

TRC-20 tokens are generally faster than ERC-20 tokens, as the Tron network has a higher transaction per second (TPS) rate than Ethereum and lower fees, made possible by the Delegated Proof-of-Stake consensus mechanism (more on this later). As for the token setups, there are more similarities than differences.

Crypto mining uses a lot of electricity

Anyone who writes about crypto's energy use is obliged to compare it to a country. The University of Cambridge's Bitcoin Electricity Consumption Index estimated worldwide bitcoin mining used 121.13 terawatt-hours of electricity in 2023.

Those looking for the crypto that uses the least energy should consider Hedera. Hedera occupies a unique position in the cryptocurrency market since this network doesn't actually use blockchain technology. Instead, Hedera uses a unique 'hashgraph' consensus mechanism designed by co-founder Leemon Baird.

Ethereum, it depends entirely on your requirements. While Bitcoin works better as a peer-to-peer transaction system, Ethereum works well when you need to create and build distributed applications and smart contracts. The choice is entirely up to you to choose a winner between Bitcoin vs. Ethereum.

Bitcoin is designed to provide an alternative to physical or fiat currency; Ethereum is intended for complex smart contracts and decentralized applications, which are believed to be part of the emerging (and theoretical) infrastructure of the future of the internet known as Web3.

“Tron is the 13th largest cryptocurrency by market cap.,” explained Austin Arnold in the video above. “Think of them like an Ethereum killer, or really more like Asia's version of Ethereum, in the sense that they are a smart contract platform you can build on top of.”

TRON is now one of the fast-growing blockchains, with over 73 million accounts and a transaction count of 2.8 billion. In addition, it claims to handle as many as 2,000 transactions per second, whereas Bitcoin can handle up to 6 transactions per second.

According to our Tron price prediction, TRX price is expected to have a -4.87% decrease and drop as low as by July 22, 2024. Our analysis of the technical indicators suggests that the current market feeling is Bullish Bearish 10%, with a Fear & Greed Index score of 74 (Greed).

Mining a Bitcoin depends on your energy rate per Kwh, it costs $11,000K to mine a Bitcoin at 10 cents per Kwh and $5,170K to mine a Bitcoin at 4.7 cents per Kwh. Learn how and if mining right for you in July 2024!

How many bitcoins are left to mine? ›

According to the Bitcoin protocol, the maximum number of bitcoins that can be created is 21 million. As of March 2023, approximately 18.9 million bitcoins have been mined, meaning there are around 2.1 million bitcoins left to be mined.

Bitcoin alone is estimated to consume 127 terawatt-hours (TWh) a year — more than many countries, including Norway. In the United States, cryptocurrency activity is estimated to emit from 25 to 50 million tons of CO₂ each year, on par with the annual emissions from diesel fuel used by US railroads.

Smaller blockchains like Solana and Avalanche use a security mechanism called proof of stake, which Ethereum Foundation researchers claim reduces energy usage by more than 99% compared to Bitcoin's system.

Ethereum currently has over 800,000 validators running computers and consuming electricity – more than twice the number since the Merge. While each validator may be consuming less electricity than pre-Merge, the sharp increase in the number of validators can contribute to increased total electricity usage.

The value of Bitcoin will always be higher than Ethereum.. Ethereum is currently using a proof-of- stake consensus algorithm for validating transactions on their Blockchain compared to the proof-of-work being used by Bitcoin. This makes Ethereum transactions faster, cheaper and consumer lesser energy.

Under its post-Merge system, Ethereum uses over 99% less energy, developers say. Its current yearly emissions are around 2.8 kilotonnes carbon dioxide equivalent, the study found - around the same as five round-trip flights from London to New York.