We take a look at what proof of work is and explore some statistics on the energy used in cryptocurrency mining. 

Written by Beckett Shulman.

Sources:

Nakamoto, S. (2009). Bitcoin: A peer-to-peer electronic cash system

Digiconomist. (2021). Bitcoin Energy Consumption. Retrieved from https://digiconomist.net/bitcoin-energy-consumption

BP Statistical review of world energy (2020) published online at http://ourworldindata.org/ retrieved from ‘https://ourworldindata.org/electricity-mix’

Blandin, A., Dr. Pieters, G., Wu, Y., Eisermann, T., Dek, A., Taylor, S., & Njoki, D. (2020). 3RD GLOBAL CRYPTOASSET BENCHMARKING STUDY. Retrieved from: https://www.jbs.cam.ac.uk/wp-content/uploads/2021/01/2021-ccaf-3rd-global-cryptoasset-benchmarking-study.pdf