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CSIRO

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It is well known that, among the biggest problems with public blockchains, such as the one behind Bitcoin, are the amount of time it takes to process a transaction and the enormous amount of energy it consumes.  According to blockchain.com, for example, Bitcoin processes only three to seven transactions per second and, in August, had an average confirmation time for a transaction of 10-30 minutes, though that number had been as high as 50 hours…