$LTC
The following are some coins that currently require mining and are relatively power-consuming:
- Bitcoin: Bitcoin mining uses a proof-of-work mechanism, which requires mining machines to perform a large number of complex mathematical operations to compete for bookkeeping rights, which consumes a lot of electricity. According to a study by the Cambridge University Center for Alternative Finance, as of May 10, 2021, the annual power consumption of global Bitcoin mining is about 149.37 terawatt-hours, which exceeds the power consumption of Malaysia, Ukraine, Sweden and other countries, and its power consumption is still growing.
- Ethereum: Before Ethereum switched to the proof-of-stake mechanism, the mining process was also very power-consuming. It uses graphics cards or professional mining machines to calculate and solve complex mathematical problems to obtain Ether. A large number of mining machines run for a long time and consume a lot of electricity. However, Ethereum has now completed the transition to the proof-of-stake mechanism and no longer relies on mining to generate new coins.
- Litecoin: The mining algorithm of Litecoin is similar to that of Bitcoin, which is also based on the proof-of-work mechanism and requires the use of professional mining machines for mining. As the market value and mining difficulty of Litecoin increase, the amount of electricity consumed by mining is also considerable, and its mining process also has a high demand for energy.
