Bitcoiners have been using the excess heat produced by their mining rigs to stay warm this season.
Electricity is the physical flow of electrons. This flow is an energy carrier and is used to deliver energy for electrically-powered devices and establishments. Electricity is a major problem for the cryptocurrency industry. Blockchain electricity consumption values vary due to the algorithm used for establishing consensus. Proof-of-work cryptocurrencies demand a lot of power to operate. As a major PoW cryptocurrency, Bitcoin electricity usage is estimated around the value equal to that of Ireland. Bitcoin mining electricity is the most consuming part of the cost. Blockchain electricity consumption is also an environmental problem, as the growing amount of power demand may lead to climate change. Fixing the problem of large electricity requirements is a field of work for many tech companies. The most used technology for reducing energy demand is a proof-of-stake consensus algorithm that changes the way mining is performed.
Beginning in April, the electronics giant and university R&D team will evaluate and tweak the new trading system's performance before commercialization.7093
A bi-directional charging scenario allows vehicle owners to sell excess power back to office buildings at a profit.4749
The German state-funded energy project uses DLT to enable transparent market transactions.5969
Despite unclear crypto regulations in the country, Russia may become the leader in sustainable crypto mining.17568
A Honda and GM-led working group has unveiled a global standard for using distributed ledger technology to create decentralized electric vehicle charging networks.10249
A crypto payments network with over 4 million users globally has bold plans for expansion and says its native token is “better than money.”9527
That may not necessarily be a good thing for the struggling state.4288
Layer1's plan to sell excess power back to Texans has resulted in 700% profits15313
Two Bulgarian nationals have been charged with the theft of nearly $1.5M in electricity used to illegally operate crypto mining farms.12536
Coincheck's CEO expressed optimism toward the company's upcoming shareholder meeting app, GMO Coin announced negative leverage trading fees and more headlined news from Japan this past week.4115
A U.S. startup is setting up a blockchain energy trading pilot in Los Angeles to promote electric van sharing.6710
Tokyo Electric Power Company Holdings Inc partnered with Itochu Corporation to start building a blockchain-based system to trade electricity surpluses.5513
Australian blockchain firm Power Ledger has announced a partnership to develop a digital energy company in Thailand, utilizing its peer-to-peer renewable energy trading tech.5562
Layer1 Technologies has deployed its proprietary mining containers as electricity storage systems to stabilize Texas’ electricity market.4622