According to an online research Crypto-Currency Bitcoin consumes more energy than entire Switzerland. A study practiced by University of Cambridge also suggest the Bitcoin mining process use as much power that centuries old University of Cambridge could be illuminated for more few centuries.
Considering the amount of energy used by data centers under Bitcoin an expert said it appears to consume far more energy per transaction than all the world’s banks put together. Another study in the scientific journal Joule estimated that electricity used for Bitcoin produces about 22 megatons of CO2 annually, that is as much as Kansas City in the US.
How Does it Work
Bitcoin computers known as mining machines are connected to the crypto-currency network called Blockchain. In order to authenticate each transaction made by people each computer interconnected globally involve solving puzzles which must meet specific difficulty level so that no fraudulent transaction could modify the global records of transactions. Succeeding through system miner receive small amounts of Bitcoin as reward. To make more money miners often connect large numbers mining machine that use huge consumption of electricity.
