The popularity of cryptocurrencies has been increasing in recent years. Climate experts warn that these online currencies could have negative environmental impacts.
According toColumbia Climate SchoolMining Bitcoin takes more energy per year than any other country, including Argentina, Google, Apple and Microsoft. A Bitcoin transaction uses approximately 2,292.5 kilowatts of electricity. This is enough to power an average American household for over 78 days.PC Magazine.
Diana Gastelum (president of the Suffolk Environmental Club) stated that cryptocurrencies are an interesting topic. She said that because of their ability to take the world by surprise in the last few decades, they can be a topic of conversation. However, I believe that there have been some negative effects on the environment due to its growth.
According to NFTs, non-fungible tokens (or NFTs) are often bought and sold on marketplaces using the cryptocurrency Ethereum.The VergeMemo Atken, a digital creator found that the average NFT has a carbon footprint of more than one month’s worth of energy for an EU household.The Verge
Gastelum stated that mining cryptocurrencies leaves a large carbon footprint and also causes high levels in energy waste.
The question is: Is it possible to make the cryptocurrency market sustainable?
These are intermittent energy options hydro, sun, and wind that we will be sourcing to our mining capacity. Paul Prager is chief executive and founder at Bitcoin mining company Terawulf.The New York Times.
Nano is another sustainable cryptocurrency option. It takes the mining out cryptocurrency making it low-energy.CoinDesk.
I know of no cryptocurrency that is more eco-friendly than a cryptocurrency. They are either known to consume less energy or don’t use mining. Gastelum stated that Nano is an example of such a cryptocurrency.
