To give a short answer: yes. We can fix this, and there are Germany Email Database ways to reach consensus (verifying transactions). The consumption of large amounts of energy remains unavoidable (just like, for example, with the current digital banking system). A good example is Germany Email Database (the second largest cryptocurrency after Bitcoin). For example, Ethereum is currently in the process of switching from Proof of Work to Proof of Stake . With Proof of Stake, new transactions are validated based on how many coins Germany Email Database owns. So no powerful hardware is needed to reach consensus. It is a more energy-efficient way of working.
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This means that the energy consumption of the network Germany Email Database decrease enormously, with practically the same result. Besides Proof of Work and Proof of Stake, there are many other consensus mechanisms. For example, Ethereum and other cryptocurrency projects are already Germany Email Database energy efficient than Bitcoin. In the future we will see which are the most efficient and safe. Whether Bitcoin will simply switch is the question. Technically, it is incredibly difficult to adapt the consensus system of a Germany Email Database . Overcoming the obstacles As with any new development, there are obstacles to overcome.
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With cryptocurrency, one of these obstacles is reducing Germany Email Database consumption. To overcome these we to use more efficient cryptocurrencies and smarter consensus mechanisms in the future. Since the cryptocurrency market is developing very fast, this will be in the Germany Email Database future. Major players such as Ethereum are already moving from Proof of Work to Proof of Stake (a much greener blockchain). Elon Musk also tweeted that he is in talks with cryptocurrency developers from both Germany Email Database and Dogecoin to tackle this problem. In short, a lot