machine and BCH energy saving more than 40% than
has always been criticized. Some people think that is a meaningless time and a waste of energy. However, some people think that the energy consumed is converted into the value of . From the point of view of the market value of , the that can be mined is indeed more valuable than the that cannot be mined.
, there are currently 2,125 on the market with a net valuation of approximately $140 billion. Statistics at the end of the first quarter of 2019 show that the that can be mined is a large value among many . The market value of the top eight that can be mined accounts for 68% of the total market value. Among the top ten in the market capitalization, there are four types of that can be mined, including , ETH, LTC and BCH. Their total market capitalization is about $91.7 billion, accounting for 65.5% of the total market value.
A large part of these mineable are that use PoW as a consensus algorithm and currency issuance mechanism, such as , BCH, LTC, and so on. The PoW-based project is essentially a market economy model, and the use of the POW mechanism solves the integrity problem of , such as double flowers.
. Since the PoW mechanism operates on two foundations: full and open competition, fair and reasonable incentive mechanism, this makes POW a decentralization guarantee from the governance level, physical network level and market operation level. However, some reasons may cause market failure, resulting in the centralization of the PoW mechanism, the main artificial barriers to set up, price distortion caused by human interference, insufficient incentives and path dependence.
Compared with the centralized mechanism, the decentralization mechanism has three major advantages: the certainty of the rules, which makes it impossible for any single authority to change the social contract that has been achieved; the strength of the network, which means that the single node shutdown will not affect The network is running, and no organization can easily shut down the entire network; finally, the security of funds ensures that no central organization can freely freeze and control user transactions. This is why the market has always advocated decentralization.
For and BCH, SHA256 is the same because its algorithm is identical. In order to improve efficiency, most of the current market is using ASIC machines for . To a certain extent, under the PoW mechanism, the emergence of ASIC machines is inevitable, and ASIC may be solving the problem of centralization. The design threshold of ASIC is low, the patent barrier is small, and it is easier to achieve full competition to achieve decentralization. the goal of.
, there are many coincidences in the mines that support them, such as .com, Antpool, .com and Viabtc. But a new survey by developer Jonathan Silverblood says Cash (BCH) is 40% more efficient than Core () in terms of energy consumption. He analyzed some key data related to the concept on these two chains, and finally concluded that the transactions and operations on the BCH are much cheaper than , and the energy consumption of BCH per transaction is better than . 43.1% lower.
If the BCH block is fully used for payment, since the BCH block size can be expanded, the energy cost per transaction will be as low as $0.01, making the transaction cheaper; and if the block is filled by the transaction, the transaction The energy cost is $5.97. These data can reflect the higher energy efficiency of BCH.
Jonathan Silverblood does this research because he believes that in terms of energy efficiency, people are always talking about cash. Although it is superior to in all measurement metrics and has better potential, it is still not implemented. This comparison is shown to give users a more intuitive feel, and hopefully trigger more debate about what energy efficiency we should strive to achieve.
Regarding the source of these data, Jonathan Silverblood also explained that the numbers and hash estimates labeled “Measured” are from Blockchair’s API. Those assumptions are random, but have been adjusted based on feedback from miners and other knowledgeable people, so the current display should be closer to reality. The rest is just basic mathematical operations. The 2MB block size used in the calculation is an estimate of Segwit supporter Jimmy Song.
, the results prove that having more transactions in one block means less energy wastage. Once we expand the block size beyond gigabytes, the price we pay today for energy and e-waste will be reasonable. From this perspective, the expansion of BCH is also very helpful for improving energy efficiency.
Published at Sat, 13 Apr 2019 09:15:53 +0000
