Monday, 7 June 2021
Huge concrete data centers, permanently plugged into power plants and telephone exchanges, maintain much of online life. But the infrastructure behind internet-based cryptocurrencies such as bitcoin, dogecoin and ethereum is more like a rusty traveling circus. And right now, that circus is on the road. Bitcoin relies on a network of millions of specialist machines, known as miners, around 70% of which are currently based in China. Like a never-ending game of Hungry Hippos, each player hammers their mining machines 24/7 to try and scoop up as many bitcoins as possible. With only a few hippos, it’s easy for everyone…
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