One single blockchain transaction of Ethereum equaled the energy consumption of less than several thousands of VISA card transactions. This according to a source that tries to estimate the energy consumption of Ethereum (ETH). It does so by estimating how much income miners possibly spend on electricity, as there is no institution that tracks how much energy the cryptocurrency actually consumes. This same methodology was also applied to the energy consumption of Bitcoin. Ethereum energy consumption is of importance for developments regarding NFTs and other applications of decentralized finance or DeFi - as the market share of the Ethereum blockchain in DeFi far exceeds that of other blockchains.
Ethereum average energy consumption per transaction compared to that of VISA as of May 1, 2023
(in kilowatt-hours)
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Digiconomist. (May 1, 2023). Ethereum average energy consumption per transaction compared to that of VISA as of May 1, 2023 (in kilowatt-hours) [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1265891/ethereum-energy-consumption-transaction-comparison-visa/
Digiconomist. "Ethereum average energy consumption per transaction compared to that of VISA as of May 1, 2023 (in kilowatt-hours)." Chart. May 1, 2023. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1265891/ethereum-energy-consumption-transaction-comparison-visa/
Digiconomist. (2023). Ethereum average energy consumption per transaction compared to that of VISA as of May 1, 2023 (in kilowatt-hours). Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1265891/ethereum-energy-consumption-transaction-comparison-visa/
Digiconomist. "Ethereum Average Energy Consumption per Transaction Compared to That of Visa as of May 1, 2023 (in Kilowatt-hours)." Statista, Statista Inc., 1 May 2023, https://www.statista.com/statistics/1265891/ethereum-energy-consumption-transaction-comparison-visa/
Digiconomist, Ethereum average energy consumption per transaction compared to that of VISA as of May 1, 2023 (in kilowatt-hours) Statista, https://www.statista.com/statistics/1265891/ethereum-energy-consumption-transaction-comparison-visa/ (last visited December 22, 2024)
Ethereum average energy consumption per transaction compared to that of VISA as of May 1, 2023 (in kilowatt-hours) [Graph], Digiconomist, May 1, 2023. [Online]. Available: https://www.statista.com/statistics/1265891/ethereum-energy-consumption-transaction-comparison-visa/
