Bitcoin's Problem

As you know, one of the main problems of Bitcoin today is its massive energy consumption.

Currently, if Bitcoin is ranked by energy consumption, it consumes more energy than Switzerland and Columbia and is about to overtake the Czech Republic.

Even in the bear market of 2018, Bitcoin's energy consumption has only steadily increased.

This growth in energy consumption, month after month, year after year is completely unsustainable. We are entering a period of resource scarcity and in order for a cryptocurrency to survive, it cannot consume as much energy as bitcoin.

The other problem of Bitcoin is that it is not scaleable. As a store of value, 7 transactions per second is not too bad compared to physical gold's zero transactions per second. However, compared to Visa's 150 million transactions per day or 1700 transactions per second, bitcoin is not that good.

Digital Gem tries to address these two main problems of Bitcoin while at the same time providing similar security and decentralization as to Bitcoin.