Thoughts on Hive power consumption vs Bitcoin/Ethereum and NFTs

1 yr (edited)
3 Min Read
571 words

A subject that has been on my mind of late is-as the topic suggests, the energy consumption used for the Hive blockchain vs. other blockchains.

I am a relatively new Hive user (9 months, fairly recently minnowed) and admittedly am not the most tech-saavy person around-although I consider myself fairly adequate and assume I probably know more than the average person on the street.

I still remember someone trying to explain blockchain to me a year or two or five ago and it just kind of going in one ear and out the other...most people probably think bitcoin when someone says blockchain if they think anything.

With the recent NFT Invasion making the news, I have noticed my friends talking about them - usually very negatively. Much of this negativity is the perceived environmental impact of bitcoin/ethereum and the energy used to "mint" the piece.

Now I get that there are plenty of other reasons for people to be against blockchain or NFTs, but the environmental concern is at worst, a concern for the future but at the very least, a great argument point against this technology-which is why I thought it would be another great selling point for HIVE and the various communities and projects.

I haven't noticed anyone mentioning it(forgive me if I am wrong), but I think that could be a great thing to add to anyones advertisements/posts that mention benefits of HIVE-say one of the front ends or tribes that are active on twitter or other social media or certainly the NFT markets and projects like @nftshowroom , @lensy or any other ones that exist or are in the works...maybe even something for @leofinance to push on their conquest for world domination!

I know that there isn't exactly a marketing department for Hive, so I just wanted to suggest a perhaps overlooked advantage of our favorite blockchain... one we all may want to bring up to others in our recruitment efforts!

Now, basically all of my friends are artists and musician types, so they could also be confused, indifferent, or just ignorant with the new technology/concept-or also influenced by popular news or opinions on these subjects. Also, none of them are on Hive, although a few do bitcoin or talk about ethereum and NFTs

I am going to assume that our impact on hive is considerably less than these huge blockchains. I know that the tokens have virtual miners so this does not require much additional electricity- if any. Obviously the scale is much smaller, with the number of users/ transactions being way less, but i'm sure- adjusted per user, hive would consume far less energy.

I tried to do a search on numbers but could not find anything-but searching through Hive isn't always the easiest ( hivesearcher is the best one I've found so far). Perhaps someone would know how to figure this out or would know where to find this out?

I see many advantages of Hive vs. Other blockchains....and I'm sure you have aspects that appeal to you as well.

"something for everyone"

...well, we are getting there, anyway.

PS, sorry if this ended up in the wrong community, i was kinda looking for a generic "hive" community- almost threw it in ask hive but i dont think it was a question really and didnt wanna post it in peakd because it was really relevant to the community at large..anyway, thanks for reading!

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