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Cambridge University. Not to mention, Bitcoin is a complete financial system whose energy consumption can be measured and tracked, unlike the fiat system, which cannot be accurately measured and requires a range of additional layers to function, including ATMs, card machines, bank branches, security vehicles, storage facilities and huge data centers. In order to incentivize the distributed network of people verifying bitcoin transactions miners , a fee is attached to each transaction. Bitcoin paved the way for many existing altcoins in the market and marked a pivotal moment for digital payment solutions.
