Wednesday, December 1, 2021
HomeTravel TechnologyTravel BlockchainBlockchain Statistics - Why Blockchain Matters in 2021 | Tech.co

Blockchain Statistics – Why Blockchain Matters in 2021 | Tech.co

Not everyone believes blockchain technology is the future, and these concerns shouldn’t be taken lightly. If blockchain tech isn’t adapted as a widely used standard, it won’t be useful enough to stick around in the long term. Here are the biggest reasons why it might eventually fail.

Blockchain uses a lot of resources

Just one bitcoin transaction takes an amount of power equal to what the average American household uses in a month. Replacing Visa transactions with a bitcoin transaction increases the carbon emissions by a factor of roughly 1.78 million, according to Digiconomist. One bitcoin transaction is also estimated to be equal to the carbon footprint of more than 130,000 hours of watching Youtube. These costs will increase with time, too.

Just one bitcoin transaction takes an amount of power equal to what the average American household uses in a month.

The total annualized carbon footprint of all bitcoin is 68.98 Mt CO2, or about the same as the country of Israel, while the…

Read further.

RELATED ARTICLES

Popular Tags

Most Popular

Don't Miss Out.
SUBSCRIBE NOW

Editor Curated News

Notable travel trade news and articles for today's travel executive. 
close-link