In the world of bitcoin mining, access to cheap and reliable electricity is everything
But many economists and environmentalists have warned that as the still widely misunderstood digital currency grows in price — and with it popularity — the process of mining that is central to its existence and value is becoming increasingly energy intensive and potentially unsustainable.
When bitcoin was first invented it was possible to solve the puzzles using a regular home computer, but the technology was designed so problems become harder to solve as more miners work on them. Those mining today use specialized machines that have no monitors and look more like a high-tech fan than a traditional computer. The amount of energy used by computers to solve the puzzles grows as more computers join the effort and puzzles are made more difficult.
A New York State judge recently ruled the project would not impact the air or water of nearby Seneca Lake. The cryptocurrency industry “needs to find a way to reduce its energy demand,” and needs to be regulated, Hedges said. “That’s all there is to it. This is unsustainable.” “All crypto communities should work together, with urgency, to ensure crypto does not further exacerbate global warming, but instead becomes a net positive contributor to the vital transition to a low carbon global economy,” the accord states.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
'The macro world is conspiring to make crypto successful' | Interview with Nicolas CaryNicolas Cary, co-founder and vice-chairman of Blockchain.com, talks about the approach of EU and U.K. regulators to the crypto and blockchain space, inflatio...
Les mer »
The Richest Crypto And Blockchain Billionaires In The World 2022These 19 billionaires have made their riches in the world of cryptocurrency. ForbesBillionaires
Les mer »
Bitcoin’s new puzzle: How to ditch fossil fuels and go greenFor the past year a company that “mines” cryptocurrency had what seemed the ideal location for its thousands of power-thirsty computers working around the clock to verify bitcoin transactions: the grounds of a coal-fired power plant in rural Montana
Les mer »
Bitcoin’s new puzzle: How to ditch fossil fuels and go greenFor the past year a company that “mines” cryptocurrency had what seemed the ideal location for its thousands of power-thirsty computers working around the clock to verify bitcoin transactions: the grounds of a coal-fired power plant in rural Montana.
Les mer »
Bitcoin ‘Went to the Moon.' Now Its Miners Wrestle Over How to Help the EarthThe cryptocurrency industry, which has rocketed upwards in value in recent years, faces growing calls to ditch fossil fuels and go green.
Les mer »
What Did the End Look Like For Dinosaurs?Fossils reveal the season in which Dinosaurs went extinct and why it mattered. Discover more by clicking the link below.
Les mer »