10 Blockchain Facts or Fantasies?

By Craig Foltz on August 30, 2018

Dispelling some common myths around blockchain.

1: A single person invented blockchain.

Unknown. “Satoshi Nakamoto” invented blockchain, but whether “Satoshi Nakamoto represents an individual or a group of individuals is a mystery.

2: Blockchain technology uses more electricity than Ireland.

Fact. A single bitcoin transaction uses about the same amount of energy as it takes to boil 36,000 kettles of water. That’s a lot of tea! By summer 2019, it’s estimated that the total energy consumption for blockchain will be roughly equivalent to the entire US output.
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Topics: Future, Blockchain, Bitcoin

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