bitcoin with colorfull blurred background and reflection

The search for a more efficient Bitcoin

November 03, 2021

The search for a more efficient Bitcoin

Synopsis
2 Minute Read

As the world looks to conserve, cryptocurrency mining continues to consume energy at an astronomical rate. Might we already have the answer for a more efficient blockchain? Download our report to view our findings.

Blockchain and digital currencies have captivated journalists, evangelists, and critics for the better part of a decade. Their transformative potential notwithstanding, many are concerned about the immense power demands to run blockchain networks and whether they can truly be part of a green and sustainable future.

This gave rise to an important question: Might there already be a more efficient blockchain implementation? MNP decided to investigate.

Our team leveraged work from several existing frameworks as well as industry experts to determine the electricity consumption of Bitcoin Core (“BTC”), Bitcoin Cash (“BCH”), and BitcoinSV (“BSV”). We also validated our energy consumption model with real-world data from cryptocurrency miners.

After running the numbers it’s clear: There is a more energy efficient Bitcoin implementation. We’ve compiled our findings in our whitepaper, The search for a more efficient Bitcoin.

Want to learn more?

Sign up to access the full report.

Insights

  • Performance

    February 07, 2023

    Underused Housing Tax Act

    The latest on the Underused Housing Tax and the unanticipated impact of filing requirements on Canadian private corporations, partnerships and trusts.

  • Progress

    February 06, 2023

    What’s driving the labour shortage for Canadian business

    Understanding the “what” and the “why” behind the labour shortage in Canada can lead business owners to broaden their thinking on how to manage it.

  • Performance

    February 06, 2023

    Managing your farm in an era of rising interest rates

    Rising interest rates present new challenges to farmers, but using the right strategies allows you to stay in control and navigate this period of change.