Ethereum co-founder questions Bitcoin’s real energy consumption

Another person joins the list of Bitcoin critics. The debate about Bitcoin’s energy consumption has resurfaced, with Ethereum co-founder Anthony Donofrio arguing that Bitcoin consumes “way too much” power.

Bitcoin (BTC) presently consumes 0.82 percent of the world’s power, while Ethereum (ETH) consumes 0.34 percent, according to Digiconomist. Donofrio retweeted Ethereum researcher Justin Drake’s data to his 56,000 followers.

Ethereum researcher takes the issue further up

Donofrio retweeted Ethereum researcher Justin Drake’s data to his 56,000 followers.

If bitcoin is really using nearly 1% of the energy on earth that is way too much for a pet rock. https://t.co/CDL32jk5FF

— Texture (@iamtexture) June 9, 2022

Ethereum proponents are trying to poke fun at Bitcoin while also promoting its imminent proof-of-stake transition. Drake followed up with a tweet that stated, “Ethereum post-merge: 0.000% of the world.”

In a subsequent tweet, Drake was compelled to admit alternative sources of data, which assessed energy consumption estimates to be over 60% lower.

Data from Digiconomist, which bills itself as a platform that “exposes the unintended consequences of digital trends,” has already been criticized by blockchain experts. The most well-known of these are fellow Ethereum engineer Josh Stark, who chastised the publication for routinely portraying the worst-case scenario in relation to blockchain technology.

In November last year, co-founder Vitalik Buterin said that he wanted to put a cap on the total transaction call data in a block. This came as a result of his intentions to decrease the total transaction calldata gas cost throughout the network.

While it is common knowledge that Bitcoin’s proof-of-work consensus mechanism consumes energy, the question of how much energy the Bitcoin network actually consumes remains a contentious topic. Ethereum has been previously praised by Citadel, which said that it would replace Bitcoin.

Interestingly, as TheCoinRise reported, the price of the second-largest cryptocurrency in the world, Ethereum, has been severely down in the past two days. It seems that the coin is on the verge of losing $1,500 by going down by more than 10%.