Cory Johnson of Ripple recently tweeted about XRP, ETH, and BTC concerning their impact on the environment. This is becoming more of an issue as more as cryptocurrency use becomes more widespread.
XRP tends to consume around 0.01TWh [terawatt hours]. ETH and BTC consume substantially more, with the former at 19.62TWh, and the latter at 68.81TWh. Bitcoin, in itself, uses the same amount of energy as the Czech Republic.
Kelly-Pitou, research associate at Resilient Energy and Power Systems, seemed to have a different take. She stated that at first, new technologies tend to be inefficient when it comes to consumption. Thereafter, people try to look for ways to enhance efficiency when implementing the technology. The energy savings may also lead to more cost-effectiveness.
Charlie Lee, the creator of Litecoin also shared his views on how cryptomining impacts energy consumption. He noted that he does not have concerns about power consumption because it improves the value of cryptocurrency “in some sense.” He also noted that energy also improves bitcoin transaction security.
A few tweeters responded to Johnsons tweet. Two of the most interesting include the following comments. First, xXMPH stated “They just need to develop a way o fusing less energy. Scalability and security are much bigger issues imo.” Crypto hold added, “In a world where electric cars are getting phased in and everyone is becoming more and more aware of their carbon footprint it only makes sense that we would do the same with crypto consumption.”