Elon Musk indicates that Tesla will stop using Bitcoin for transactions. Tesla wants to use cryptocurrencies that are at least 100 times energy-efficient per transaction.
There is speculation that Tesla could enable solar-powered cryptocurrency mining, support other cryptocurrencies like Doge and could create their own cryptocurrency.
Tesla & Bitcoin pic.twitter.com/YSswJmVZhP
— Elon Musk (@elonmusk) May 12, 2021
Leafscore lists the most sustainable cryptocurrencies for 2021.
Digiconomist estimates that compared to 1100 kWh for each Bitcoin transaction, Nano uses just 0.112 Wh. Etherium uses about 85 kWh per transaction.
Cardano uses a ‘Proof of Stake’ consensus mechanism where those participating in the currency buy tokens to join the network. Cardano claiming that the cryptocurrency network consumes only 6 GWh of power. Bitcoin consumes 115 TWh of power per year.
SOURCES- Elon Musk, Tesla, Leafscore, Digiconomist
Written By Brian Wang, Nextbigfuture.com (Brian owns shares of Tesla)
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
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