Square Enix and Crypto

[OtakuSempai]

To be fair, bitcoin and proof of work does not hurt the environment. In fact, it helps the environment by incentivizing development in cheaper, renewable energy(your profit goes down if you use dirty expensive energy by design). Second, NFTs are huge scams but NFTs have nothing to do with bitcoin or proof of work. Just to be clear.

Proof of work is still orders of magnitude more inefficient than even a Visa transaction. The criticism is still valid.

[DinahDemiurge]

Proof of work is still orders of magnitude more inefficient than even a Visa transaction. The criticism is still valid.

You seem to be confused. The proof of work mechanism is a competition to write transactions to the ledger, but has nothing to do with the transactions themselves. If you are talking about raw throughput, things like Segwit and Taproot reduced the blockweight of transactions, plus the lightning network completely demolishes Visa in cost per tx. Further, here is an article for you regarding environmental impact: https://hbr.org/2021/05/how-much-ene...tually-consume .

[OtakuSempai]

You seem to be confused. The proof of work mechanism is a competition to write transactions to the ledger, but has nothing to do with the transactions themselves. If you are talking about raw throughput, things like Segwit and Taproot reduced the blockweight of transactions, plus the lightning network completely demolishes Visa in cost per tx. Further, here is an article for you regarding environmental impact: https://hbr.org/2021/05/how-much-ene...tually-consume .

It has everything to do with transactions, since it's how transactions are verified on the blockchain. It's a ton of energy per transaction verified. Traditional financial transactions are verified with much less energy per transaction, like Visa.

[DinahDemiurge]

It has everything to do with transactions, since it's how transactions are verified on the blockchain. It's a ton of energy per transaction verified. Traditional financial transactions are verified with much less energy per transaction, like Visa.

if that's the case then the lightning network solves your problem.