Cardano Outperforms PayPal and Netflix with Lower Energy Consumption: Details

According to Cardano daily, a Cardano community-focused Twitter account, Cardano might be more energy efficient than Paypal, YouTube and Netflix based on its energy consumption.

A thread of tweets highlights that Cardano is also less energy intensive than gold mining or Bitcoin proof of work (PoW), given its estimated yearly consumption of 0.0027 TWh or 2.7 GWh.

CARDANO ENERGY CONSUMPTION

The Merge event has fixed the date on or around Sep 15, considering ETH greener to the environment. However, before the date come, take a look at the energy consumption between @Cardano network and some real world activities.#cardano #sustainable pic.twitter.com/mDMKRTLlsv

— Cardano Daily (@cardano_daily) August 22, 2022

Based on data from the Cardano explorer, Cardano runs on 3,198 pools, which puts its estimated yearly consumption at 3.103 GWh, or 0.0031 TWh. On the other hand, the estimated Bitcoin yearly consumption is given at 214,944 GWh, or 214.944 TWh.

This makes Cardano 69,270x more energy efficient than Bitcoin.

Ads

As reported by U.Today, IOHK CEO Charles Hoskinson gushed about Cardano’s sustainability virtues in a recent Forbes interview, asserting that the proof-of-stake cryptocurrency was significantly more energy-efficient than Bitcoin.

As Hoskinson stated, “The advantage of proof of stake is that because you don’t have that gargantuan overhead and energy expenditure for deciding who gets to make a block, it means you can put a lot of your magic in the other two stages.”

However, a Coinshares Bitcoin mining report released at the start of the year indicated that Bitcoin only contributed 0.08% of global carbon dioxide (CO2) emissions in 2021, suggesting that talking points about the network’s energy usage may be a little bit overstated.

Yoroi wallet prepares for Vasil

The official Yoroi Wallet Twitter account tweeted recently, “We have started to update our servers in preparation for the Vasil hard fork. Users may experience a slow-down in services through this transition.”

Yoroi Wallet is an official crypto light wallet developed by EMURGO for Cardano ADA and Ergo ERG users.

According to Cardano’s IOG, Vasil remains one of the most complex upgrades it has undertaken to date, hence safety and security are its top priorities.