Bitcoin's carbon footprint as big as Las Vegas, reveals a study

by



[ad_1]

A new study found that bitcoin cryptocurrency requires a lot of electricity, which leaves a considerable carbon footprint, a carbon footprint that rivals the environmental impact of Las Vegas or a small country like Sri Lanka.

Researchers estimate that Bitcoin generates about 22 megatonnes of CO2 emissions every year.

Egyptian currencies such as Bitcoin depend on blockchain technology to confirm transactions such as the transfer of funds.

However, this validation process uses "large amounts of electricity", which causes severe carbon emissions, according to a study by researchers at the Technical University of Munich and the Massachusetts Institute of Technology.

What you need to know before investing in cryptocurrency

The researchers looked at the effects of Bitcoin exploitation, which allows users to earn cryptocurrency without spending money.

To estimate electricity consumption, the authors of the study used IP addresses and physical data from recent IPO repositories.

The authors wrote that their study pointed out the potential disadvantages of blockchain technology that should be taken into account by decision makers.

"Of course, more important factors contribute to climate change.However, the carbon footprint is important enough to justify discussions about the possibility of regulating the exploitation of cryptocurrencies in regions where energy production is particularly carbon intensive, "said one of the authors, Christian Stoll, Christian Stoll. said in a statement.

"To improve the ecological balance, one possibility could be to link more mining operations to additional renewable production capacity."

[ad_2]

Source link