Any one care to put forth a kwh per transaction guess and try to equate it to the most efficient of the block chain tech?
Also give a guess of its security and efficiency best case vs the best mix of block chain security-efficiency even for the narrrower range of functionality a crypto currency addresses vs the full internet replacement of SAFE.
For this to be a win I think safe needs to exceed the security of any block chain while exceeding the efficiency of any blockchain tech- maybe even in theory. Otherwise what we get is a non disqualifying element even though SAFE is so much more.
Today I heard the whole valuation of etherium comes down to the whim of Vitalek. Sound safe that a single human is the point of failure- the economist (not fully identified) said that is absolutely not the case for BTC. No but BTC is apparently the love child of the DOD and Citibank so it seems certain in some sense its value proposition has been set by the lords of finance in the major state global monetary union.
Funny thing about proof of work even in its wastefullness is that in an augmented reality way it is tearing stuff up, creating heat and acting tangible and that goes a long way toward the convention of being able to suspend belief and treat it as real. Where some of these others
are like the feeling you get when a camera is pointed at you and you can’t be sure its off, you don’t know what is going on under the hood. This plays much better with our nonsense sensibility that if you don’t work you don’t eat. It makes noise acts like its creating scarcity of a compromise or pain which inturn cause people to at least unconsciously think its not just a computer doing wishful garbage in and wishful garbage out.
Its so insignificant that at this time impossible to estimate.
The reason being is multifold
- Safe Token (not coin) is only a very small part of Safe’s overall functioning. Apps and reading websites will outweigh all the token transfers.
- Writing data will out weigh the the token transactions especially when PUTs are pre purchased in batches. Still be cheap to get a batch but will reduce token transactions for resource purchases by say 10000 times.
- The token transaction is simply a small set of consensus decisions and messages.
- Energy usage of whole network (token transfers perhaps 1/10000 of this)
- Spare resources of all the people who run nodes (perhaps 100’s of millions) are effectively using no extra energy.
- All the nodes running on 5 watt SBCs drawing as much as standby on your TV
- Unknown number of data centre instances drawing ??? in energy
There was an estimate of a mature network (whole world with 100 million nodes) could draw similar power to current BTC mining but not including users computers initiating the transfers and checking balances.
So with the Safe Token energy usage around the 1/10000th to 1/1000th of total energy then its a lot less than the current BTC mining.
Now considering that BTC mining is done for a few million people to transact with and Safe token energy being based on world wide (> 3 billion) then we are not comparing apples to apples. To get reasonable comparison then divide the above energy comparison by 100 or more.
So comparing similar users transacting then Safe Token perhaps is 1/1000000th to 1/100000th of BTC for similar number of transactions.
EDIT: for BTC at 120TWH for the year’s energy (few million users), or take that as Safe’s ball park energy usage (few Billion)
120TWH/365 days/24 hours ==> 13 GW usage for BTC and World Wide Safe Network
Adjust for differences in users of each transacting, we need to reduce by 1000 (few million / few billion) giving 13MW usage if similar number of users for each
Now Safe Token transactions is 1/1000th or lower of the total usage giving us around 130KW (130,000W) for token transactions compared to BTC 13 GW (13,000,000,000) for similar users.
And Safe Token transfers will be higher in number too simply because its quicker and cheap, all for the same cost.
Thank you. So maybe 3 orders of magnitude more efficient than the best block chain and 6 better than bitcoin. Now SAFE is so much more than a token, but will it have in theory security comparable to Bitcoin. I ask because as I understand it not all block chain is anything close to as secure as BTC as Etherium comes down to the security of Vitalek which and Doge use apparently an almost trivial by comparison encryption.