It is no myth that cryptocurrency transactions for mining processes require a massive volume of energy. Bitcoin undoubtedly takes the pie, but its silver brother Ethereum is not much behind. The brighter side to this is that the Blockchain carbon footprint is slowly decreasing.
A Twitter user- Digiconomist, in a recent study presented the numbers of Ethereum’s position with regards to energy consumption. He tweeted,
“The latest #Ethereum Energy Consumption Index is 7.737 TWh per Year/0.72 Mil US households (+3.9%)
44.2 KWh per unique transaction (powers 1 US household for 1.5 days) #MakeEthereumSustainable”
Consumption level for Ethereum has increased since February 2014 at a steady pace, exceeding 20 TWh four years later in late 2018. However, the subsequent drop has been pretty impressive. The consumption level fell sharply below 10 TWh early in January this year.