JAKARTA – Some time ago, there was a topic about the wasteful energy used by Bitcoin. One of them is because BTC mining must use high computing devices and consumes a lot of energy. Apparently, that's not the case for cryptocurrencies that use other PoS models including Cardano (ADA).
For your information, Cardano is a blockchain that uses a Proof-of-Stake (PoS) model. ADA is Cardano's native cryptocurrency. Recently, Cardano was touted as an energy efficient blockchain. It is more economical than YouTube, PayPal, even Netflix based on its energy consumption.
In order to reduce the high energy consumption, Cardano developers choose to use Proof-of-Stake or PoS mechanisms. This is a model that is claimed to be environmentally friendly compared to the Proof-of-Work (PoW) model used by Bitcoin (BTC).
According to Cardano Daily, a Twitter account focused on the Cardano community, PoS projects are more energy efficient than many leading technology companies, including PayPal, YouTube, and Netflix.
According to a recent report, the Cardano network consumes only 3.103 GWh of annual energy or 0.0031 terawatt hours (TWh). Meanwhile, the Netflix movie streaming platform consumes around 94 TWh of energy in 2021. Meanwhile, YouTube's energy consumption stands at 244 TWh per year. Lastly, PayPal consumed 0.25 TWh of electricity in 2019.
However, until now the PoS model has a power consumption that contrasts with the PoW model. For example, the Bitcoin network consumes 131 TWh of energy per year. This is greater than the electricity consumption of countries such as Argentina, the UAE and the Netherlands.
Therefore, energy consumption in cryptocurrencies is still a hot topic that is often discussed. In 2021, electric car company Tesla suspended Bitcoin payments because BTC's energy consumption was not considered environmentally friendly. Likewise with Ethereum, which decided to switch from PoW to PoS.
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