Improving existing electricity estimation models for Ethereum and Filecoin

What is it about?

We identify the flaws of the most prominent electricity estimation models for Ethereum and Filecoin and improve them by validating the assumptions they make and collecting more data. We compare the reliability of various data sources and combine them to come up with new electricity estimates, as well as lower and upper bounds.

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Why is it important?

Alternatives to PoW claim that they consume significantly less electricity but there are few sources that quantify how big the reduction in electricity is and they lack the required scientific rigour and make use of unvalidated assumptions.