Energy consumption of any man-made system has to be sustainable especially in the 21st century. Due to the constant increase in CO2 emissions, the man-made systems need to be energy-efficient.
Most people when they think of blockchain technology, they think of it as the most recent and innovative man-made system. The distributed ledger technology or blockchain as we call it is exponentially growing in its use and many applications are being built. Hence its energy consumption has to be taken into account.
Blockchains like Bitcoin, Ethereum, and many more consume a lot of energy. The high energy consumption is due to the high security provided by the network, but at what cost? For example, the energy consumption of the Bitcoin network is more than the energy consumption of Switzerland.
The energy consumption of a blockchain network depends on
- the consensus protocol used
- number of applications built
- number of users
- frequency of usage
Bitcoin is the first peer-to-peer exchange built on blockchain technology. Its consensus protocol is HashRate based Proof of Work. Current estimates suggest that the total energy expenditure of Bitcoin has surpassed the energy consumption of nations like Switzerland and the Czech Republic.
To know the exact figures, one transaction in Bitcoin network consumes
- 420 Kilowatt-hours: This is equal to powering an average American home for two weeks.
- equal to burning 360 tons of sugar.
The energy consumption of the HashRate based Proof of Work (i.e. Bitcoin) is a barrier for its widespread adoption.
Other solutions or consensus protocols (in the fig above) have emerged such as Proof-of-Stake, DAG (Directed Acyclic Graph), and many more. But these consensuses pose an obvious problem, for example the Proof-of-Stake poses the problem of centralization and governance while DAG (Directed Acyclic Graph) poses the problem of data availability.
Archethic network stands out due to its focus on data availability and on the global and decentralized spirit of proof-of-work (not the HashRate PoW).
Energy Consumption of Archethic Network
- 3.6 Billion times less energy then Bitcoin
- 308 million times less energy than Ethereum
- 60000 times less energy than EOS
- 0.42 Wsec per transaction
- Equivalent to burn one tenth of a gram of sugar.
The theoretical calculation below gives the best results:
a. Daily Consumption of a Archethic node working at 100%: 15Wh (e.g. Intel NUC i3)
- Ten nodes are needed for 10 seconds to validate and replicate a transaction (however, the current figures for validation of a transaction are less than 1 second for a single node and around 100 ms for the replication).
- The number of transactions on the Bitcoin network is 93 million transactions per year with an energy consumption of around 38.7 TWh/year.
b. The number of transactions validated by 10 nodes per year in Archethic network:
- 365.4 × 24 × 60 × 6 = 3,157,046 transactions (becoz 10 nodes are dedicated for 10 sec to validate a transaction)
c. The number of nodes required to handle the current yearly Bitcoin transactions:
- 93,000,000 ÷ 3,157,046 = 29.45 sets of 10 nodes
29.45 × 10 = 295 nodes
Only 295 nodes are required by Archethic network to cover the current performance of the Bitcoin network.
d. The energy consumption of Archethic network wrt Bitcoin network,
295 × (365.4 × 24) × 15 = 38,805 kWh/year
This means to do the same work Bitcoin consumes 38.7 TWh/year whereas Archethic consumes just 38.8 MWh/year
This low energy consumption is further complimented with the highest security.
Archethic is not only a pioneer in low energy consumption, but also in
Scalability => Capability to handle UNLIMITED transactions per second
Traceability => Zero knowledge proof
Decentralized => Randomness ensures complete decentralization
Sustainable and Green Solution => Energy consumption is 3.6 billion times less energy consumption than Bitcoin
Physical and Cyber Access Management => Archethic blockchain is coupled with Uniris 'Public Biometric Identification' (Patented)
DApps Compatibility => Market Place, Identity Management, etc.
Archethic Public Blockchain
Archethic is a Layer 1 aiming to create a new Decentralized Internet.
Its blockchain infrastructure is the most scalable, secure & energy-efficient solution on the market thanks to the implementation of a new consensus: "ARCH".
Archethic smart contracts expand developers' boundaries by introducing internal oracle, time-triggers, editable content & interpreted language.
Through native integration for DeFi, NFTs & decentralized identity; Archethic offers an inclusive and interoperable ecosystem for all blockchains.
In order to achieve the long-term vision of an autonomous network in the hands of the world population, we developed a biometric device respecting personal data privacy (GDPR compliant).
Making the blockchain world accessible with the tip of a finger. Be the only key! https://www.archethic.net/
Archethic Foundation Non-profit in order to manage decentralized governance of the public blockchain