The price in Bitcoin is not the only thing that has hit a high this year. Cryptocurrency mining energy has reached remarkable heights.
The electricity used to mine Bitcoin this year is shockingly higher than the annual usage of 159 countries. So far, Bitcoin mining electricity requires $1.5 billion this year.
Bitcoin at this present moment consumes more electricity than three continents in Africa which is: South Africa, Algeria, and Egypt- according to research by UK energy comparison company called Power Compare.
A single Bitcoin transaction uses enough energy to power the average household for one month. Moreover, Ethereum which is the second most popular cryptocurrency uses a third more than the countries worth of electricty.
The question is will there be a solution to mine cryptocurrency ethically in the community by the end 2018?
The blockchain industry has grown exponentially, disrupting traditional markets and creating new opportunities for innovation.
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