These days buzzword phrases like “environmentally sound” and “ozone-friendly” are frequently used to grab your attention. It seems like nearly every product on the shelves or services advertised in the mailbox contain these rather clichéd words. People have seen this to the point of over saturation and the words hardly leave an impression on our minds.
While overused and seemingly redundant, these issues are serious and these products and services play an important role in our futures and those that come after us. It is our job to make an effort to use things that are not detrimental to our future generations.
With the rise in popularity of Bitcoin and alternative cryptocurrencies (altcoins) since 2017, the heavy use of electricity has become a hot topic as of late. The large amount of power used for Bitcoin and other PoW coin-mining rigs and facilities has taken center stage of the PoW vs PoS debate.
PoW uses miners, computers with specialized GPU chips, often over-clocked and constantly running at 100% capacity, to validate blocks (transactions) and keep consensus by guessing larger and larger numbers. Mining rigs can be quite expensive to use and maintain and those costs continue to rise as more miners join the network to compete with each other. These special chips are also unusable for any other purpose, and are trashed once obsolete. Such a waste of resources to deduce a bunch of numbers!
On the flip side, PoS consensus/block validation can be maintained by inexpensive equipment, some running as low as 15% capacity, which results in a significant amount of energy savings over PoW coins. PoS also does not require constantly upgraded hardware or consistent maintenance, instead using common hardware found in most home computers.
The number of Bitcoin fullnodes is 9453 at the time of this writing1 and the annual energy usage of Bitcoin is currently estimated to be 73 TWh2. That’s a pretty significant amount of energy to be spent on consensus. Imagine what that load could be used for. Cell phones use approximately 1 KWh per year to charge3. That means 73,000,000,000 phones, or about 9.5 phones per person, can be charged for a year with the same amount of juice used by Bitcoin miners!
Helios Protocol is a DAG + Blockchain-based platform with a unique consensus mechanism, MagPoS, which is based on the proven physics of the properties of magnetic dipoles4. Every single Dapp and wallet has its own blockchain which results in near-instant transactions and a scalability that is only limited by the current equipment available on the market. The gadgetry needed to run a fullnode for Helios Protocol is most likely residing in your PC tower right now. Additionally, MagPoS does not force you to compete with others on the network, a facet unique among PoW and most PoS systems. This further stabilizes the low power usage, even as the network grows.
Presuming the Helios Protocol network has the same number of fullnodes as Bitcoin (we will round up to 10,000), and each Helios fullnode is running an intel Core i7-1068G7, at 28 W TDP, and 15% utilization. In this case, the annual energy usage of the Helios protocol will be approximately 0.00037 TWh:
28W x 10,000 Nodes x 8760 (hours/year) x 0.15 (15% utilization) / 1000000000000 (terawatts) = 0.00036792
Therefore, the Helios Protocol network will use nearly 200,000 times less energy than the Bitcoin network with the same number of fullnodes:
73TWh/(28Wx10,000Nodesx8760Hours/year x0.15 (15% utilization)/1000000000000 (terawatts) = 198412.698413
That is a significant disparity! This means 3679 phones, or about 0.0000477818 phones per person, can be charged for a year with the projected annual energy used by the Helios Protocol network. By using the Helios Protocol network, instead of the Bitcoin Network, you are not only reducing your carbon footprint, you are also making a statement that a blockchain does not need to be a huge waste of valuable resources. Come see for yourself what we’re all about and feel good while you do!