It will always be some waste but as technology advances calculations will be conducted faster at lower energy costs. below are a list of the mining performance taken from tom's hardware as a good example. I'll compare the 1080 with the 3070 as they have about the same power usage the 3070 actually has 10w less. so back in 2016 you have a mining performance of 32.1 and now in 2021 its up to 61.3 that is almost double the calculations with only 5 years of technology advancements. as we have seen with computing over our lifetimes these numbers are going to become absolutely dog poop in about 10 years and we will probably have quadruple the calculations by those time unless the end of the world happens or something. so for the same amount of power we get double output so yeah there is waste like there always in in anything we do but we get more output. Other things we need to consider is our advancements in energy efficiencies etc over those next 10 years also like are we going to move more tword nuclear power? Every house uses solar power? or hell maybe we will finally get Fusion or space energy farming or something. Last but not least Crypto has only become mainstream for about 5 or so years and that to is also going to evolve as developers work on how crypto is used in the world So yeah it feels like we are being wasteful but in all honesty they are negatable.And this is where any sane person should really get suspicious. Crypto is an add driven hype about bits of software that represent highly volatile fantasy assets without any intrinsic value.
It's an inherently wasteful technology and therefore absolutely not futureproof in any way as it is now. This technology will require much more developement and probably a whole different approach in order to fire up the IoT visions for tommorow and still be sustainable. As most likely outcome for IoT I think official digital currencies will ultimately win. The cryptotokens of today might pave the way for the developement of he tech but will likely stay in their niche for taxevaders and money laundry or just die. As the whole concept of smart contracts only just starts to shine when you think about automated IoT exchange. Cryptotoken are no currency they depend on poeple willing to exchange currency for them. If IoT works directly with an actual currency there's no real need for a fantasy token.
Proof of work is a waste of processing power:
Out of 100.000.000.000.000.000.000.000 calculated bitcoinblocks only 1 actually gets to be part of the chain while 99.999.999.999.999.999.999.999 calculated blocks are wasted energy.
Proof of Space: basically same thing just precalculated. Waste of Space.
Lastly about the beloved Ether. Once that's Proof of Stake it might get less wasteful but soon it's not even DeFi. There will be like 20 huge Serverfarms worldwide that will validate the chain. How can anyone think that's decentralized just because it might spread geographically.
That doesn't mean you can't make a dime or two while the hype stays on...
|GeForce GTX 1060 6GB||$351||25.0||90W||$2.82||124.5|
|Radeon RX 590||$450||28.6||130W||$3.16||142.4|
|GeForce RTX 2070||$738||43.8||130W||$5.01||147.4|
|GeForce RTX 2060 Super||$739||43.7||129W||$5.00||147.9|
|Radeon RX 5700||$881||51.3||133W||$5.91||149.1|
|Radeon RX 580 8GB||$479||29.0||135W||$3.20||149.8|
|GeForce GTX 1070||$478||28.2||114W||$3.15||151.7|
|GeForce GTX 1080||$546||32.1||138W||$3.57||153.1|
|GeForce GTX 1660 Super||$545||30.2||75W||$3.49||156.3|
|Radeon RX 5600 XT||$718||39.6||115W||$4.53||158.4|
|GeForce GTX 1660||$462||25.3||70W||$2.90||159.1|
|GeForce GTX 1660 Ti||$554||29.7||73W||$3.43||161.4|
|GeForce RTX 3060 12GB||$909||48.6||118W||$5.62||161.8|
|GeForce GTX 1080 Ti||$797||44.0||197W||$4.87||163.6|
|GeForce RTX 2070 Super||$828||43.9||128W||$5.02||164.8|
|Radeon RX Vega 64||$753||42.5||254W||$4.55||165.4|
|Radeon RX 5700 XT||$1,004||51.8||119W||$6.01||167.2|
|GeForce RTX 2060||$627||33.0||125W||$3.71||169.1|
|Radeon RX 5500 XT 8GB||$507||26.3||81W||$3.00||169.0|
|Radeon RX Vega 56||$732||39.2||174W||$4.34||168.6|
|Radeon RX 6700 XT||$946||47.1||120W||$5.43||174.2|
|Radeon RX 6800||$1,340||64.5||166W||$7.43||180.2|
|GeForce RTX 2080||$950||43.8||129W||$5.01||189.6|
|GeForce RTX 3060 Ti||$1,384||60.6||116W||$7.08||195.5|
|GeForce RTX 3070||$1,403||61.3||123W||$7.15||196.2|
|GeForce RTX 2080 Super||$998||43.9||124W||$5.03||198.3|
|GeForce RTX 2080 Ti||$1,366||60.1||180W||$6.87||198.9|
|GeForce RTX 3080||$2,202||93.9||234W||$10.84||203.1|
|Radeon RX 6800 XT||$1,568||64.6||186W||$7.40||211.9|
|GeForce RTX 3090||$3,124||116.5||279W||$13.48||231.8|
|Radeon RX 6900 XT||$1,900||64.6||183W||$7.41||256.6|