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CDAP also found that China is the second biggest Bitcoin mining hub, despite Beijing’s crackdown to eliminate Bitcoin mining within its borders, with more than 20% of the global market share. Other digital transactions, like those powered by Visa, are faster and rely on less energy. Visa, for instance, can handle around 1,700 transactions per second compared with Bitcoin’s 4 TPS. “Of course, this is wasteful in the sense that 99.99% of all the machines that did work just throw away the result since they didn’t win the race,” says Brody. While this process produces a fair and secure result, it also creates a ton of carbon emissions. “I very much doubt Bitcoin anticipated such enormous success in the future
