Tron Network Ranked Miles Ahead of Bitcoin and Ethereum Based on Energy Consumption
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The report showed that Tron consumed a minuscule 162,868 kWh per year to facilitate 2.31 billion transactions. The report illustrated that this was the equivalent of energy consumed by 15 average US households in a year. Meanwhile, Bitcoin and Ethereum consume a jaw-dropping 83,000,000 kWh and 22,000,000 kWh per annum, respectively.
The research and rating institute revealed that it analyzed 20 networks on the TRX blockchain to arrive at its energy consumption conclusion. The data also comprised Tron’s overall ecological damage and sustainability.
It is worth mentioning that the study was funded by the Tron Foundation, the organization running the Tron blockchain.
Commenting on blockchain energy footprint, Tron founder Justin Sun noted that the major challenge facing blockchains in the modern era is excessive energy consumption. Sun added that this practice is “not sustainable in the long term for either consumers or economies at scale.” Commenting on blockchains like TRX, Sun said the most effective blockchains “encourage decentralization while minimizing their environmental impact.”
Worries over carbon footprint and energy consumption by crypto blockchain remain a prevalent topic in discussions relating to the industry.
Key Tron Levels to Watch — August 29
TRX currently battles with a bearish bias after losing the $0.0650 handle to bears over the weekend. The cryptocurrency now clings to the $0.0620 support as it struggles to return above my February trendline, towards $0.0680. Considering we recorded a nasty bearish plunge after this cryptocurrency breached this line in June, is it possible for us to see a replay of such price dynamics now the line has been breached again?
In an event of a bearish continuation, the most TRX could correct us the $0.0566 support. However, bulls remain in the picture in the meantime and would likely prevent a sustained fall from the $0.0620 support.
Meanwhile, my resistance levels are $0.0650, $0.0680, and $0.0700, and my support levels are $0.0620, $0.0600, and $0.0566.
Total Market Capitalization: $977.5 billion
Tron Market Capitalization: $5.81 billion
Tron Dominance: 0.59%
Market Rank: #15
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