Outline
- Pre-requisite reading (my guide)
- Perhaps you’ve come across something like this statement:
https://twitter.com/RAC/status/1369756727587999744 “Blocks will happen regardless of your transaction count.”
This is some counter-intuitive shit.
Explain how blocks are populated/mined. https://txstreet.com/v/eth
There aren’t good analogies (plans, trains, buses). Maybe a good one is Uber drivers and surge pricing?
Can there be empty blocks? Yes! https://ethereum.stackexchange.com/questions/40126/why-are-there-so-many-empty-blocks
So up to this point, we’ve determined that blocks are shipped even if they’re not full.
This why some people say “Your NFT isn’t contributing to Ethereum’s energy consumption. It’s happening anyway.”
But how true is that?
First we need to understand how much Ethereum network activity is comprised of NFT transactions. Explain why.
Explain how big defi is.
Show calculations: https://docs.google.com/spreadsheets/d/1n-18iYXyevHSAjiKj0_6r4yUr8DiJ14NYyAbHeQe7J0/edit#gid=397700101
That’s a very small percentage. And that data is looking at record high NFT activity.
Okay, so what?
It means that NFT transactions aren’t really moving the needle. Whether or not you mint something, the blocks are going to ship with or without them, because they account for such a small % of the activity out there.
[Need an analogy for this.]
To put it another way, if all NFT activity stopped tomorrow, it wouldn’t effect Ethereum’s energy consumption.