Bitcoin’s Carbon Emissions Footprint: How Large Is It?

2019-6-17 14:51

Now, if you have been into the blockchain technology industry for a while, you’d realize that the process of mining consumes quite a bit of electricity.

This is quite noticeable, especially where proof of work is required for confirmation of transactions particularly where cryptocurrencies such as bitcoin are concerned.

A few years ago, concerns had risen about the carbon footprint that cryptocurrencies where contributing to greenhouse emissions globally.

Added to this concern was also the long term effect on the mining of cryptocurrencies on the environment.

While this may not sound like much, it has already been estimated by researchers that bitcoin’s carbon footprint is just about the size of a mid-sized Western City (very much like Las Vegas USA or Hamburg Germany).

Some researchers at the Technical University of Munich and the Massachusetts Institute of Technology in 2018 discovered that the entire bitcoin network was responsible for 22-22.9 million tons of CO2 yearly.

Explaining their findings in the Journal Joule, the researchers examined data correlating to the emissions coming from Countries where most of the bitcoin miners are located.

According to the researchers, the power used to mine came majorly from Asia (68%), Europe (17%) and North America (15%) in that order.

In essence, it then shows that Bitcoin’s total emission is something we all need to watch out for.

While certain efforts are being made to use green technologies such as solar, wind and other renewable sources which contribute little or nothing to greenhouse emissions (a study actually found that over 74% of bitcoin mining is powered by renewables), the fact that the remaining 26% can contribute this much emission is still of some concern.

So, for all the fuss being made about bitcoin not being environmentally friendly, bitcoin is actually one of the new disruptive technologies which are actually green!

What are your thoughts about how bitcoin can contribute less to global carbon emissions?

Let us know in the comments below!

The post Bitcoin’s Carbon Emissions Footprint: How Large Is It? appeared first on ZyCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67109.28 (-0.21%)
Объем 24H $15.575b
Изменеия 24h: 0.05 %, 7d: 10.08 %
Cегодня L: $66856.94 - H: $67327.72
Капитализация $1321.989b Rank 1
Цена в час новости $ 9297.7 (621.78%)

bitcoin quite footprint emissions carbon large concerned

Источник: zycrypto.com

bitcoin quite → Результатов: 126


Will This Be The Last Dip Before Bitcoin Takes Off To $10k?

The past 24 hours have been quite gloomy over here in the crypto space and no other could have caused it than the high and mighty Bitcoin. The top cryptocurrency by market cap experienced a sharp drop in price in the early hours of today, however, a cryptocurrency analyst is of the opinion that this […] The post Will This Be The Last Dip Before Bitcoin Takes Off To $10k? appeared first on ZyCrypto.

2019-6-5 05:02


Фото:

Chinese Listed Companies and Bitcoin Mining: Partner or Predator?

This article was originally published by 8btc and written by Lylian Teng. Some Chinese listed companies have jumped on the bandwagon of bitcoin mining following the bitcoin bull run throughout 2017, either under the guise of cloud computing or providing mining hosting services, in an effort to bypass regulations considering the country’s tough stance on bitcoin.

2019-5-29 18:53


Bitcoin Cash [BCH] is ‘unsecure’ and the recent BCH chain reorg is a ‘sh*t show’, says Blockstream CSO

Bitcoin Cash, the fourth largest cryptocurrency in the world, has had more than a few hiccups this month. The scheduled upgrade for BCH didn’t quite go as planned, the SegWit BCH funds were stolen, two mining pools had to reorg to blocks to return the stolen funds, and other developments marred the otherwise peaceful bullish […] The post Bitcoin Cash [BCH] is ‘unsecure’ and the recent BCH chain reorg is a ‘sh*t show’, says Blockstream CSO appeared first on AMBCrypto.

2019-5-26 16:00


Latest Longhash Report Reveals Ethereum Outperforming Bitcoin in the Return on Investment Metric

Ethereum has been having quite a year for itself — with the premier altcoin currently resting around the $235 region after having hit a relative low of $86 just 6 months back. Statistical data shows that ETHs native GAS consumption has been on the rise this year, thereby signifying an increase in the development of […]

2019-5-23 16:45


Imagine a World Where Bitcoin’s Volatility Levels Equal Gold’s within a Decade from Now

Bitcoin, the pioneer of the cryptocurrency space is often considered to be the modern-day store of value and digital equivalent of gold. However, the comparison between Bitcoin and Gold does not really go down well with the Gold proponents as they believe gold has been the standard for quite long and has a very stable […]

2019-5-22 18:50


Zilliqa (ZIL) team working on stable coin project: Need patience from the community

Altcoins are not performing so well at the moment, and investors are feeling the heat. In most projects, investors are getting frustrated with the lack of any significant bullish price action. This is quite understandable given that Bitcoin is already up by over 100% with little action in the altcoins market. One altcoin where the […]

2019-5-21 12:32


Analysts Expect Bitcoin to Drop Towards $7,300 After Failing to Stabilize Above $8,000

Bitcoin and the entire crypto markets incurred some volatility over the weekend that allowed BTC to climb to highs of nearly $8,300 yesterday before quickly reeling back down to below $8,000. Today’s drop further confirms that Bitcoin isn’t quite ready to stabilize within the $8,000 region and may signal that a further pullback to $7,300.

2019-5-21 03:00


Bitcoin Price Watch: ‘A Bullish Weekly Close Looks Promising’, Will BTC Hit $10k This Week?

With everything that has happened in the crypto sphere in the last few weeks, it would be a long time before people stop talking about the market. Even though there are quite a few people who think that the recent pullback experienced by Bitcoin will be sustained, there still are a lot more people that […] The post Bitcoin Price Watch: ‘A Bullish Weekly Close Looks Promising’, Will BTC Hit $10k This Week? appeared first on ZyCrypto.

2019-5-19 20:03


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru