The cryptographic industry is growing rapidly, as are concerns about its impact on the environment. The original and most popular crypto, Bitcoin, is energy-intensive in design and is mined by millions of high-performance computers around the world.
However, this puts enthusiasts in a difficult position. According to them, crypt gives power to the decentralized Internet by transforming the economy of banking, finance, gaming, shopping, entertainment and even human interaction.
However, if crypt, with a market capitalization of $ 2 trillion, is the future, this industry, like any other, cannot afford to ignore climate change and must embrace sustainability. Ethereum, the second most popular cryptocurrency, uses a lot of power like Bitcoin, but its developers are planning to switch to a more environmentally friendly mining method.
Saving the environment has economic value
Even if you are only interested in the financial side of things, you may be surprised to learn that choosing sustainable cryptographic mining systems means creating greater economic value for yourself and others.
The fact is that the more we care about the environment, the more we benefit from it. Simple money may seem tempting at the moment, but it has a negative return in the long run, forcing companies that enjoy comfortable outcomes to lose it quickly. The best way to stop this is to get ahead of events.
Everything turns green
It is true. Every industry you look at right now says that green is the only way forward. The sooner the crypt reaches this car, the sooner it can reach its full potential in the future, which is full of challenges but also brings many opportunities. “Green consumption” is not an excuse for everything, but it certainly pushes all business in the right direction, and this is good news for anyone interested in a greener business.
There is no denying that in the last few years, the narrative that Bitcoin (BTC) consumes too much energy has garnered increasing traction. However, it is sometimes overlooked that in recent months an increasing number of Bitcoin miners have switched to power sources based mainly on renewable energy.
Crypto’s path to a more sustainable future
2020. published in December report Real estate and related activities currently account for 38% of total CO2 emissions in urban areas. Therefore, the narrative that cryptographic mining alone is fast becoming one of the biggest causes of global warming today may be flawed.
One study suggests that hydropower is currently the most common source of energy for miners, with 62% of all mining farm operators using hydropower to facilitate their day-to-day operations. In second and third place are coal and natural gas (38% and 36%), followed by wind and solar energy.
As the industry moves closer to a greener future, many carbon neutrality standards appear to be becoming the norm in the cryptographic mining industry. To look at things from a perspective show datathat gold mining is more resource – intensive than Bitcoin mining. It is also believed that flue gas waste can feed the entire BTC network 6.2 times, which simply shows that cryptographic miners could be part of the solution when it comes to wasted energy.
Finally, as noted above, a growing list of mining companies have adopted strategies that have allowed them to become “climate positive” in terms of greenhouse gas emissions.
So we can safely say that the future of the cryptography industry looks pretty green.