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2022-05-29 17:53:42

What's The Environmental Impact Of Cryptocurrency?

Many people are bullish about cryptocurrencies like Bitcoin, but detractors point to a major flaw—cryptocurrency mining is highly energy-intensive. While mining is just one method available to validate cryptocurrency transactions and mint new crypto coins, it's the method used by Bitcoin and Ethereum, the two leading cryptocurrencies.

Keep reading to find out how much energy is used by cryptocurrency mining, and understand the other environmental impacts of cryptocurrency. Learn about alternatives to crypto mining that use much less energy.

 

KEY TAKEAWAYS

Bitcoin and other proof-of-work cryptocurrencies require large amounts of energy—more than is used by entire countries—to perform the computations associated with crypto mining.

These energy requirements help secure cryptocurrencies by making it prohibitively expensive for any one party to hijack the network.

The largest country for Bitcoin mining is the United States, which accounts for 42.7% of Bitcoin mining activities.

About 37 kilotons of electronic waste are annually produced as a byproduct of Bitcoin mining.

Some cryptocurrencies do not use mining, but Bitcoin is unlikely to change its consensus algorithm.

 

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Hankige Crypto uudiskiri
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