Friday, September 18, 2020
No menu items!
  • News
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Contact Us
More

    IOTA Tangle is Capable of 5.6M Transactions Using Same Energy that Powers 1 BTC Tx

    Must Read

    Ripple Enhances Its Partnership with Bill & Melinda Gates Foundation

    As a report has it, Ripple, the US-based cross-border payment firm has become a sponsor member of Mojaloop Foundation,...

    VeChain Joins China Animal Health and Food Safety Alliance as Public Blockchain Technology Provider

    VeChain, the leading enterprise blockchain platform, has officially become a council member of China Animal Health and Food Safety...

    XMR Workgroup to IRS: Focus On Studying Monero Instead of Offering $625,000 to Break It

    A Monero workgroup has recently urged the United States Internal Revenue Service (IRS) to find a better means of...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    Obviously, the first and largest cryptocurrency by market capitalization Bitcoin consumes lots of energy in the course of mining and transaction.

    The energy consumption of the digital currency was recently compared to the transaction on IOTA Tangle, and the outcome showed a wide margin.

    A Twitter user identified as ReneW shared the information he said was revealed by Digiconomist, a channel that exposes the unintended consequences of digital trends.

    According to the tweet shared by ReneD, the transaction of 1 Bitcoin (BTC) consumes 637.1kWh of electrical energy, while IOTA token uses at most 0.112kWh.

    Conclusively, he said IOTA Tangle is capable of 5.6 million transactions using the same energy that powers 1 BTC transaction.

    He said, “As of today, one BTC-Transaction consumes 637.1kWh of electrical energy. IOTA uses ~0.112kWh or less per transaction (tx). So for the energy used for one BTC tx you are able to do 5.600.000, 5.6 million tx on the tangle.”

    What Does IOTA Tangle Imply?

    The data structure at the heart of IOTA is termed as the Tangle, and it was first presented in the Tangle whitepaper. Instead of storing its ledger on a blockchain, IOTA uses DAG for better scalability.

    A blockchain has a designated transaction rate due to the agreement on the longest chain by all users, which brings about the discard of forks and side branches.

    But Tangle proves otherwise in this regard. It gives room to different branches of the DAG to merge in the long run, resulting in much faster overall throughput.




    2 COMMENTS

    1. BTC is long now a store of value rather than a currency to execute transactions. This reality will only get more pronounced as the 21 million BTC cap approaches.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Ripple Enhances Its Partnership with Bill & Melinda Gates Foundation

    As a report has it, Ripple, the US-based cross-border payment firm has become a sponsor member of Mojaloop Foundation,...

    VeChain Joins China Animal Health and Food Safety Alliance as Public Blockchain Technology Provider

    VeChain, the leading enterprise blockchain platform, has officially become a council member of China Animal Health and Food Safety Alliance (CAFA), to provide blockchain...

    XMR Workgroup to IRS: Focus On Studying Monero Instead of Offering $625,000 to Break It

    A Monero workgroup has recently urged the United States Internal Revenue Service (IRS) to find a better means of spending taxpayers’ funds than offering...

    Cardano Once Again Outranks Ethereum as the Blockchain with Highest Development Activity on Github

    Cardano (ADA), a third-generation blockchain project, has once again outranked Ethereum to become the blockchain with the highest development activity on Github, an American...

    16.2 Million XRP Moved from Binance to Ripple As Jed McCaleb Initiates another XRP Selloff

    According to the tweets shared by the XRPL monitor, Ripple, the cross-border payment firm, transferred 10 million XRP to an unknown wallet and received...

    More Articles Like This