Blockchain and sustainability — There’s more to it than electricity usage
Bringing the social and governance spheres to the discussion about the sustainability and potential of blockchain technology. In a little more than 40,000 days — or over a hundred years — we have gone from the first terrestrial flight to the first flight on another planet. Within that short time, the amount of fuel burned and, unfortunately, even lives lost have been immense. In exchange, flight has completely transformed everything from commerce to warfare and has led to the birth of completely new industries. As aviation progressed, fuel efficiency improved and mortality rates also....
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Companies are turning to enterprise blockchain-based solutions to meet environmental sustainability goals as well as business demands. Bitcoin (BTC) is often used to criticize all blockchain-based projects. This is understandable since Bitcoin was the first project to use a blockchain, is arguably the most recognizable and is the largest cryptocurrency by market cap.In the first half of this article, I will use Bitcoin as a proxy for all blockchain-based projects because most people associate blockchain with Bitcoin. Anything environmentally positive that can be said about Bitcoin will be....
A new report by the Crypto Carbon Ratings Institute (CCRI) showcases the environmental sustainability of the TRON network. According to the “Energy Efficiency and Carbon Footprint of the TRON Blockchain” report, the highly popular TRON network only consumes as much electricity as just fifteen average U.S. households.
The Environmental Sustainability of the TRON Network
The electricity consumption and related carbon footprint of Bitcoin and other cryptocurrencies have been subject to extensive discussion in public, academia, and industry. Various....
In a recent article on Vice’s technology news feed, Motherboard, author Sebastiaan Deetman explores the energy efficiency of Bitcoin. The article begins with a brief and fatalistic assertion regarding the environmental impact of mass migration to Bitcoin (or a similar energy intensive cryptocurrency). Another Vice Motherboard contributor, Christopher Malmo, is quoted as saying, “Adopting Bitcoin as a major currency anytime in the next few decades would just exacerbate anthropogenic climate change by needlessly increasing electricity consumption until it’s too late.” At the time that Malmo....
A new report reveals an angle for sustainability in Bitcoin mining through harnessing onsite natural gas emissions. Data from a recent Ark Invest report highlights another utility for Bitcoin (BTC) mining in the realm of sustainability and energy. According to the findings, there is enormous potential to transform methane emissions into energy for Bitcoin mining, which, in turn, will turbocharge solar and wind-generated electricity at onsite wells. Important research from @skorusARK on #Bitcoin’s potential role in transforming methane emissions into bitcoin mining that will turbocharge....
Tesla CEO Elon Musk has spoken with North American bitcoin miners and they have committed to forming a Bitcoin Mining Council to “promote energy usage transparency & accelerate sustainability initiatives worldwide.” They have also agreed to publish their current and planned renewable usage. The meeting was hosted by Microstrategy CEO Michael Saylor. Elon Musk and Michael Saylor Say Miners Have Agreed to Form Bitcoin Mining Council The Technoking of Tesla, Elon Musk, announced on Twitter Monday that he has spoken with bitcoin miners. He wrote: Spoke with North American bitcoin....