Japan To Use Solar Power For Digital Economy

One of the major drawbacks of using cryptocurrencies or more specifically Bitcoin is the massive energy it requires to secure the Bitcoin network which requires a massive amount of computing power to operate.

As the demand and value of bitcoin continue to increase and the impending rewards halving to occur in less than a year from now, we saw a marked increase in hashing power which only means more power resources were put into the network.

While the Proof-of-work consensus protocol proved to be the most secure and decentralize means of securing distribute ledgers it one of the most expensive in terms of power consumption, this is why many have turned to renewable energy for a more sustainable ecosystem.

That is why many countries like Japan, who are in the frontier of the crypto industry, realized that adoption of blockchain and crypto will continue to grow and accelerate are already laying down plans to harness renewable energy resource to power this nascent industry.

Japan, for‌ ‌example,as for many years been developing solar power technologies such as the Space solar power generation which aims to harvest solar power from space and transmit the energy back to earth and developed the world’s first and largest floating solar plants which are said to be 16% more efficient than land-based solar systems.