Energy Performance, Carbon Footprint and Hardware Efficiency of Blockchain Networks

High Performance Computing (HPC) plays a critical role in supporting the computationally intensive tasks of blockchain technologies, such as consensus algorithms, data processing, and validation. However, the growing adoption of blockchain has raised concerns regarding the substantial energy consumption and carbon footprint associated with HPC systems. This paper investigates the energy efficiency and environmental impact of HPC in blockchain applications, with a focus on hardware and associated hashing algorithms for mining. We analyze power consumption and carbon emissions from computational devices such as Central Processing Units (CPUs), Graphics Processing Units (GPUs), Field-Programmable Gate Arrays (FPGAs), and Application-Specific Integrated Circuits (ASICs), particularly in cryptocurrency mining and decentralized applications. Additionally, we assess the environmental implications of different consensus algorithms, providing a comprehensive understanding of their energy demands and carbon emissions. Our findings offer valuable insights into blockchain sustainability, encouraging the adoption of more energy-efficient and environmentally conscious practices in the industry.