Jan 4, 2018Energy Efficient Coin

As cryptocurrencies continue to explode into 2018, we expect more awareness to be brought to light about the energy use of these projects and endeavors.

Whilst there is a LOT of speculation about bitcoin, it’s true energy consumption, etc, I think it is safe to say it isn’t the most friendly when it comes to power use.

We at PIVX took a detailed look at the hypothetical power consumption of our entire network.  What this means, is used several variables and known stats to provide a projection of energy use for PIVX.  The variables are laid out below as follows:

  • In Proof of Work coins (like bitcoin), power is consumed in a few ways:
    – Mining
    – Computers that are Running Full Nodes (These are called core wallets).
  • In Proof of Stake coins (PIVX), power is consumed:
    – Computers that run the full nodes (core wallets that are running the blockchain and staking).
  • Bitcoin has around 10,000 full “nodes” running.
  • It is hard to estimate how many individual computers are staking.  We know there are around 2100 nodes from masternodes running.  Looking at inputs, it is a fair estimate that there are 8000 or so individual wallets staking.  Thus for comparison sake, we will say there are 10,000 full nodes running for PIVX.
  • Thus, since the only power consumed in PIVX is by the core wallet running, we need to look at the energy consumption of typical computers/laptops and go from there.
  • The Typical Laptop Computer in Idle runs 12 W / Hr.
  • PIVX Core (The wallet) only uses 3% power so it’s practically on idle.
    • Most power consumption comes from running the processor hard (gaming) or the screen being on.
  • THUS: With 10,000 Full Nodes (Means, 10,000 wallets running) PIVX would be 120 KwH of power or 0.12 MwH of power production.
  • Wind Turbines at 35% Avg Production of a 2.5 MW Wind Turbine – 0.875 MwH average production, so 1/6th of a Wind Turbine’s actual average power generation.
  • The average size of a rooftop solar installation is 8.3 Kw capacity.
  • So when sun is out, 15 rooftop solar systems would power the entire PIVX network (10,000 full nodes).

So let’s say in 1 year, we have 100,000 full nodes running around the world (conceivable).

That means it would take the output from 2 wind turbines to power the entire network, or 150 rooftop solar installations.