Polkadot has the lowest electricity consumption among proof-of-stake blockchains

February 6, 2022
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Polkadot has the lowest electricity consumption (70.237 kWh) among proof-of-stake blockchain networks per year. That’s according to a report by the Crypto Carbon Ratings Institute, which was commissioned by AvaLabs and studied six proof-of-stake blockchains. Cardano has the lowest electricity consumption per node (199,45 kWh/year), while Solana has the lowest electricity consumption per transaction (0,166 Wh/Tx).

What is Bitcoin (BTC)?

Bitcoin is a revolutionary new payment network and a new form of electronic money. It’s a digital currency which enables secure and instant financial transactions at dramatically low costs between any two individuals anywhere on the globe. Bitcoin allows its users to transact directly, peer-to-peer, without an intermediary and can be used just like other currencies or assets in exchange for goods or services. Bitcoins are the unit of currency of the Bitcoin payment network. The most used abbreviations for Bitcoin are BTC or XBT.

Bitcoin is the very first cryptocurrency and was founded by an anonymous person or group of individuals, named Satoshi Nakamoto. To this day, Satoshi Nakamoto’s identity and nationality are still unknown. Bitcoin is decentralized. Unlike traditional currencies like the Euro or the US-Dollar, there is no government, institution or other central third party that oversees the issuance and circulation of Bitcoin. That means Bitcoin cannot be censored, manipulated or controlled by a single centralised institution or government. Also, if you store your Bitcoin in a digital, non-custodial wallet, no institution, government or third party is able to lock you out of your funds.

For more information about Bitcoin and other cryptocurrencies visit our Blockchain FAQ section.

How to I buy Bitcoin (BTC)?

You can buy Bitcoin (BTC) and other cryptocurrencies such as Cardano (ADA) or Ethereum (ETH) on so-called cryptocurrency exchange platforms, like Binance, Kraken or Coinbase.