Isn’t blockchain incredibly resource-intensive and therefore anything but sustainable?

It is true that some blockchain networks such as Bitcoin are known for their high energy consumption due to their proof-of-work consensus mechanisms, but not all blockchains are equal in terms of their environmental impact. The Internet Computer (IC) developed by the DFINITY Foundation is an example of a blockchain that is committed to sustainability and energy efficiency.

The IC’s consensus algorithm uses a voting mechanism that does not waste energy on computing hashes with artificial difficulty, but instead uses that energy to actually compute user programs that do useful work. This makes the IC network significantly more energy efficient than proof-of-work based blockchains.

In fact, the Internet Computer is one of the most energy efficient blockchains out there. An ICP transaction consumes only a fraction of the energy required for a single Google search, and an Ethereum transaction requires almost 500 times more energy than an ICP transaction.

The power consumption of all node computers on the Internet Computer Blockchain is also displayed completely transparently in a public dashboard.

Although blockchain technology can be resource intensive, it is important to note that there are significant differences in the energy consumption and sustainability practices of different blockchain networks.

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