Recent research by Valuechain examined and compared the energy consumption of the traditional banking system with Bitcoin’s Proof of Work and Bitcoin Lightning mechanisms. Bitcoin blockchain technology often gets slammed in the media as consuming too much energy. However, the recent study reveals otherwise.
The research was conducted by Michael Khazzaka, who is an IT engineer and cryptographer. His research was published on April 20, and the discoveries are pretty shocking, for instance that “Bitcoin payments are a million times more efficient than traditional banking.”