Blog And some more fun facts from the world of cryptocurrencies. Part 2.

And some more fun facts from the world of cryptocurrencies. Part 2.

#Blockchain Pop • 1 min read • Mar 13

Dear friends, we continue our favorite Blockchain-Pop column, and today we are again talking about incredible facts and amazing cases in the world of cryptocurrencies.

It’s no secret that cryptocurrency transactions consume a lot of energy because, for any action within the blockchain, you need to use every link in the chain. For example, one bitcoin transaction consumes around 400 megawatts, while a simple transfer from a bank card consumes about 70. Thus, one can safely say that bitcoin transactions alone consume more energy per month than all Ireland does. And if we add here the transactions of all other currencies, we get a cosmic figure. Therefore, it is too early to talk about cryptocurrency as a ubiquitous means of payment.

In 2021, an Australian “pirated” all NFTs on Ethereum and Solana, posted them on the popular Pirate Bay website in a 17.96 terabyte archive and proudly announced this on social networks. Yes, he literally right-clicked on each NFT and saved it to a folder. But do not rush to laugh villainously: in fact, it was a prank. Thus, the engineer wanted to draw attention to the controversial issue for him of modern mania regarding the NFT. True, for this experiment, he had to rent a server for a lot of money in order to store so many pictures.

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