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Does the mining of cryptocurrencies require energy?


Ryan

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Hello Ryan,
The mining of cryptocurrencies takes place online. This mining is different from that of minerals such as gold and diamond. Gold can be seen and felt while cryptocurrencies such as Bitcoin are invisible and are also referred to as digital currencies.
 Either way, both of them require energy. It requires approximately the same amount of energy to mine these metals as it is in cryptocurrencies.
Mining popular digital currencies such as Bitcoin usually consumes so much energy compared to mining the less popular ones. 
Real money fulfills purposes such as acting as a storage of value, buying and selling commodities, and acting as a unit of account. Cryptocurrencies also complete some of these purposes. Producing cryptos, however, requires more energy than while producing real money. 
The people mining the Cryptos use special software and a lot of power to compute what they produce. 
The energy used to produce the cryptos is usually such extensive thanks to the energy-intensive calculations required to be done by the computers. 

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