The mining of digital money is often accused of harming nature. However, the situation is changing right now.
Mining requires a lot of electricity. The average electricity consumption of the bitcoin network can match the needs of entire countries. Experts find it difficult to accurately assess the carbon footprint of bitcoin mining, but they agree on one thing: cryptocurrency causes serious damage to the environment.
At the moment, the only way to reduce environmental damage from cryptocurrency mining is to use alternative electricity:
wind energy (wind turbines);
geothermal energy;
solar energy (solar panels);
hydropower (hydroelectric power plants).Migration of miners to countries that are not rich but convenient for the production of cryptocurrencies can have a positive effect on the economy.
As for ecology, practice has shown that there is every opportunity to make the mining of cryptocurrency completely environmentally friendly in the near future.
Energy consumption is just a point. In the future, they will find a lot of excuses, even if they are absurd. The reason is that we block the wrong things they do. They'll always try, but as long as we're here, they won't succeed.
Blockchain technology is one of the best technologies for the environment, the energy used will decrease as technological resources improve. Many things that harm the environment can become a much cleaner environment by getting into Blockchain technology.
I agree with you. Paper coins used now. A lot of trees are being cut down. It's processed in factories. At this time, a large amount of energy and resources are spent. I think that the resources and energy spent are much more than the energy used in the blockchain network. Of course we have to do better. But I think these discourses only came about to reduce trust in the blockchain network. I'm sure we'll get through this.
After Korea, another country should be a leader. It would be great for a quick change. But I think it's also worth the wait, as it's an inevitable fact.
As you said, the traditional banking system needs more energy. However, the energy system of the network bitcoin uses is also considerably higher.
We can improve this. Many ecosystems are developing their own networks to be faster, cheaper and consume less energy.
There is a lot of data pollution in the virtual world. With this much, we are already harming nature to a great extent.
As a solution, we must pave the way for networks using PoS consensus. And we must help them thrive.
Those writing in this article are extremely important topics related to blockchain. A lot of people got it wrong. And because they know so, it is a serious problem that they do not support this technology.
Why would we choose a system that makes us wait for international transfer? They even aren't active 7/24, they cost us more and transactions are not fast enough. If we think what we have accomplished in technological knowledge, the things I mentioned sound insane!
UN has a fair point on this, everything is easier and greener with blockchain technology. I think more of the world will acknowledge power of blockchain.
Another point is that, many people thing everything is similar to Bitcoin, as you mentioned. It is thinking like first invented car has same ecological power as a novel electric car. If they think like this they will start seeing the difference. Nothing is alike nor in crypto neither in real world.
You're so right. And when I want to send money to someone, I have to wait for very long periods of time, and there are too many costs. Blockchain offers a great solution.
Actually, Elon accidentally supported us. While the energy issue may cause bigger problems in the future, we are now exploring and trying to solve the problem.
The best thing is to use renewable energy. In this way, both the system works and the energy source is healthy. It's great to solve the big problems that may be ahead in advance .
I hope even more problems are found and solved.
A beautiful party awaits us when the problems end.
Of course he knows. He may even have done it for his own benefit. But in better days, when these problems arise, they can be more difficult to solve. Inevitably revealed the problem. And we're working on a solution. I think that's great. It'll be great when the hard times go by.
Blockchains find a solution to everything. It looks like we'll soon see a world where it's more common, and it'll bring lots of convenience and greenery with it!
As you said, he creates a lot of solutions. I think managers are afraid of that. They're trying to humiliate him under the pretext. But I think we'll go through it all comfortably and get to the good times.
The UN is thinking of something very right. If he'd told me 6 months ago, I wouldn't have understood anything. But I listened to a professor recently. He talked about what Blockchain works and how it works. He said that the Blockchain network can replace all government institutions. Notaries, tax offices, hospitals, schools. He said that managing all of them is possible with blockchain and will be much faster than the current system. The biggest problem in the country I live in is theft. All government officials are stealing. This is where I want it.
As for energy, of course, everyone wants to build a system that is less harmful to nature. Bitcoin consumes a lot of energy. Here Comes the question on my mind. Is it because bitcoin ends up being mined and increases its difficulty? So it was 707kwH 3 years ago? Another question is safety. Is more encryption the reason for this energy consumption? Or is it the result of bad engineering just because it's old? If he's doing more encryption, it means he deserves the energy he's consuming. But these are issues I'm weak on. Crypto engineering is a very difficult field. I can't think enough. You need to be very knowledgeable.
I hope there's a more efficient way. I'd like it not to consume any electricity. But sometimes you need to make a profit loss comparison. Lose sight of certain things or.(Not to mention Nature)
While energy consumption is a solvable problem, it is very little compared to the remaining things. They're just making excuses for fear. Something else will come up in the future. But what they don't know is that blockchain is adapting very quickly. We're going to win.
Solving solutions is the good way rather than just neglecting it and BTC , ETH and other Crypto are focusing on it from many months and i believe they will get success soon in the coming years
A balanced cycle is needed environment matters and decentralization too
If we compare Banking System and BTC Then BTC is still good but not the best
what a great article :)
The mining of digital money is often accused of harming nature. However, the situation is changing right now.
Mining requires a lot of electricity. The average electricity consumption of the bitcoin network can match the needs of entire countries. Experts find it difficult to accurately assess the carbon footprint of bitcoin mining, but they agree on one thing: cryptocurrency causes serious damage to the environment.
At the moment, the only way to reduce environmental damage from cryptocurrency mining is to use alternative electricity:
wind energy (wind turbines);
geothermal energy;
solar energy (solar panels);
hydropower (hydroelectric power plants).Migration of miners to countries that are not rich but convenient for the production of cryptocurrencies can have a positive effect on the economy.
As for ecology, practice has shown that there is every opportunity to make the mining of cryptocurrency completely environmentally friendly in the near future.
Thanks for an article.
Although Bitcoin's energy consumption is better than traditional banking, as human beings we should always want better and less harmful to nature.
It would be awesome if there is a global financial system running on EOS or XRP. So much green!
I hope we will see the much more friendly projects and make the blockchains greener!
Thank you for the article, Jesús!
Recording and auditing data on greenhouse gas emissions on a blockchain, as in the example you gave.
I think many things like this can be done.
In this way, we will achieve positive results.
But I don't understand why they only focus on the energy consumption issue.
I think there are more important things.
In addition, if such a problem occurs, the necessary authorities should gather and create a solution.
I hope that big investors and authorities can now fully see the convenience and advantages of blockchain.
This is a revolution, it is impossible not to see it.
Energy consumption is just a point. In the future, they will find a lot of excuses, even if they are absurd. The reason is that we block the wrong things they do. They'll always try, but as long as we're here, they won't succeed.
Renewable energy sources will increase and I believe there will be a solution.
In government business, data record can be kept transparently on blockchain.
Many social institutions and associations can use the blockchain system for tracking and data recording.
Blockchain technology is one of the best technologies for the environment, the energy used will decrease as technological resources improve. Many things that harm the environment can become a much cleaner environment by getting into Blockchain technology.
Thanks for the article.
I agree with you. Paper coins used now. A lot of trees are being cut down. It's processed in factories. At this time, a large amount of energy and resources are spent. I think that the resources and energy spent are much more than the energy used in the blockchain network. Of course we have to do better. But I think these discourses only came about to reduce trust in the blockchain network. I'm sure we'll get through this.
We have taken our step with Korea's driver's license, many more sectors will be integrated into Blockchain Technology in the future.
After Korea, another country should be a leader. It would be great for a quick change. But I think it's also worth the wait, as it's an inevitable fact.
As you said, the traditional banking system needs more energy. However, the energy system of the network bitcoin uses is also considerably higher.
We can improve this. Many ecosystems are developing their own networks to be faster, cheaper and consume less energy.
There is a lot of data pollution in the virtual world. With this much, we are already harming nature to a great extent.
As a solution, we must pave the way for networks using PoS consensus. And we must help them thrive.
Those writing in this article are extremely important topics related to blockchain. A lot of people got it wrong. And because they know so, it is a serious problem that they do not support this technology.
Thanks for the valuable article and information.
I don't think there will be any banks in the future. They can spend minimum energy only with Blockchain Technology.
Why would we choose a system that makes us wait for international transfer? They even aren't active 7/24, they cost us more and transactions are not fast enough. If we think what we have accomplished in technological knowledge, the things I mentioned sound insane!
UN has a fair point on this, everything is easier and greener with blockchain technology. I think more of the world will acknowledge power of blockchain.
Another point is that, many people thing everything is similar to Bitcoin, as you mentioned. It is thinking like first invented car has same ecological power as a novel electric car. If they think like this they will start seeing the difference. Nothing is alike nor in crypto neither in real world.
Thanks for the article!
You're so right. And when I want to send money to someone, I have to wait for very long periods of time, and there are too many costs. Blockchain offers a great solution.
Actually, Elon accidentally supported us. While the energy issue may cause bigger problems in the future, we are now exploring and trying to solve the problem.
The best thing is to use renewable energy. In this way, both the system works and the energy source is healthy. It's great to solve the big problems that may be ahead in advance .
I hope even more problems are found and solved.
A beautiful party awaits us when the problems end.
Thanks for the article.
Have a nice day.
I don't think Elon mistakenly supported us.
He has many companies around the world that he founded with entrepreneurship. What states cannot do in space, he is doing with his companies.
Such a person knows better than us the harms or benefits of this technology to the environment.
Thank you for your thoughts
Of course he knows. He may even have done it for his own benefit. But in better days, when these problems arise, they can be more difficult to solve. Inevitably revealed the problem. And we're working on a solution. I think that's great. It'll be great when the hard times go by.
Blockchains find a solution to everything. It looks like we'll soon see a world where it's more common, and it'll bring lots of convenience and greenery with it!
Thanks for the article
This project will really stun those who say that money mining harms the environment. I believe we will get positive results.
Thanks for the article.
This is a great article I really appreciate it.
The perception that all blockchains are harmful to the environment needs to change.
In particular, the corruption you mentioned in the article stands before us as a serious problem.
Think how deep this corruption is in third world countries.
this is a clear picture of how far more people are from a fair share.
While corruption makes a few rich, the people who really need help are in trouble.
Blockchain can solve this in any field.
this is inevitable for a more just world.
I think that blockchains such as eos and xrp are more efficient and this efficiency will be understood more clearly over time.
With this awareness, we will see that these environmentally friendly blockchains will be included in our lives in many areas.
we can see how states and governments are using the funds created for refugees. It is clear that this is not distributed fairly.
For this reason, blockchains should enter all financial systems as soon as possible and all transactions should be recorded on blockchains.
Thank you again for this eye-opening article.
As you said, he creates a lot of solutions. I think managers are afraid of that. They're trying to humiliate him under the pretext. But I think we'll go through it all comfortably and get to the good times.
When I first saw the title of the article, I said what is the relationship between blockchain and the environment?
But as I read the article, I understood the importance of this much better.
People often choose what is easier for them, and the advantages of blockchain are much greater than the traditional banking system.
For example, blockchain is faster, cheaper and consumes less energy.
The number of places where blockchain is used is increasing day by day.
I think blockchain should be used wherever it can be used.
Thank you for reading
I totally agree, it should be used where it can be used.
The UN is thinking of something very right. If he'd told me 6 months ago, I wouldn't have understood anything. But I listened to a professor recently. He talked about what Blockchain works and how it works. He said that the Blockchain network can replace all government institutions. Notaries, tax offices, hospitals, schools. He said that managing all of them is possible with blockchain and will be much faster than the current system. The biggest problem in the country I live in is theft. All government officials are stealing. This is where I want it.
As for energy, of course, everyone wants to build a system that is less harmful to nature. Bitcoin consumes a lot of energy. Here Comes the question on my mind. Is it because bitcoin ends up being mined and increases its difficulty? So it was 707kwH 3 years ago? Another question is safety. Is more encryption the reason for this energy consumption? Or is it the result of bad engineering just because it's old? If he's doing more encryption, it means he deserves the energy he's consuming. But these are issues I'm weak on. Crypto engineering is a very difficult field. I can't think enough. You need to be very knowledgeable.
I hope there's a more efficient way. I'd like it not to consume any electricity. But sometimes you need to make a profit loss comparison. Lose sight of certain things or.(Not to mention Nature)
I think we follow the same professor 😂
While energy consumption is a solvable problem, it is very little compared to the remaining things. They're just making excuses for fear. Something else will come up in the future. But what they don't know is that blockchain is adapting very quickly. We're going to win.
Solving solutions is the good way rather than just neglecting it and BTC , ETH and other Crypto are focusing on it from many months and i believe they will get success soon in the coming years
A balanced cycle is needed environment matters and decentralization too
If we compare Banking System and BTC Then BTC is still good but not the best
Thanks for an awesome Article
Bitcoin ❤️
We should worry about the future of our planet. It's good to see blockchain technology being applied to solve these problems.