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by panda88888
3246 days ago
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Crypto currencies will never be as energy efficient as a traditional financial network with trusted players because of the need to calculate pointless hashes (or other variants of proof of work) in order to resolve trust and consensus issues. For BoA (or other financial institutions), simply sending a message through the trusted financial network saying "I pay you $5" is sufficient. Whereas for BitCoin (or other crypt currencies), a difficult hash has to be calculated that takes many orders of magnitude more energy. |
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