Humor: New Cryptocurrency Aims to Reduce Energy Consumption from Christmas Lights36

Americans and their Christmas lights consume a staggering amount of energy. For December alone, these glowing ornaments consumed 4.5 terawatt-hours of electricity, more than the annual consumption of Laos. Fortunately, the new Festivus ICO is looking to reinvent Christmas spirit.

One of the major problems with Bitcoin is how much energy it takes to maintain the network. Proof of work mining is costly. Estimates by CryptoSlate put the number around 29 terawatt-hours a year, as much energy as the entire country of Morocco.

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