Home → Magazine Archive → July 2018 (Vol. 61, No. 7) → Why Cryptocurrencies Use So Much Energy → Abstract

Why Cryptocurrencies Use So Much Energy

By Logan Kugler

Communications of the ACM, Vol. 61 No. 7, Pages 15-17

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In recent months, bitcoin and other cryptocurrencies have plunged in value, yet the market capitalization for these digital currencies is still valued at hundreds of billions of dollars. That market cap has grown more than 20 times since last year, when the cryptocurrency boom began.

With bitcoin's booming popularity comes problems. Speculation in bitcoin and other cryptocurrencies is rampant. Scams abound, and plenty of initial coin offerings (ICOs) have overpromised or underdelivered spectacularly.


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