Elon Musk captured the world’s attention when he declared that Tesla would no longer accept Bitcoin as a payment method, citing the blockchain’s environmental impact.Although this thrust the debate about cryptocurrencies and the climate into the spotlight, this has been an issue that has been rumbling on for many years.Bitcoin’s proof-of-work consensus mechanism is exceedingly … [Read more...] about Can blockchain ever be part of the solution for tackling climate change?
Climate
Norway’s minister of climate Sveinung Rotevatn is a Bitcoin ‘hodler’
Norway’s minister of climate and environment Sveinung Rotevatn sits on a stack of Bitcoin, he revealed in an interview this week.“[It’s] a well-suited store of value,” he said, adding that mining—using powerful computing equipment to validate transactions on and maintain the network—did pose considerable environmental challenges.Going BitcoinNorway is popularly known for its … [Read more...] about Norway’s minister of climate Sveinung Rotevatn is a Bitcoin ‘hodler’
Experts debate Bitcoin climate footprint in latest Cointelegraph Crypto Duel
In the latest Cointelegraph Crypto Duel, founder of Digiconomist Alex de Vries and CEO and founder of Blockchain for Climate Joseph Pallant debated the intensity of Bitcoin’s footprint and possible paths forward to reduce it. As pointed out by de Vries, Bitcoin’s energy consumption has been increasing together with its network. The analyst predicts its carbon footprint could … [Read more...] about Experts debate Bitcoin climate footprint in latest Cointelegraph Crypto Duel
Crypto artists are now using Ethereum NFTs to fight climate change
Californian startup Hitch is collaborating with South African artist Daniella Attfield to create a unique non-fungible token (NFT) art piece that benefits the climate, it said in a release shared with CryptoSlate.“Mining cryptocurrency creates a tremendous amount of energy and NFTs use much less— which is why using carbon credits for any art piece should be a requirement, not … [Read more...] about Crypto artists are now using Ethereum NFTs to fight climate change
Environmentalists say Bitcoin must do what Ethereum is doing to fix climate impact
The New York Times published an article featuring calls from experts saying Bitcoin will eventually need to follow what Ethereum is doing and change to a Proof-of-Stake (PoS) consensus mechanism.Bitcoin’s ravenous demand for electricity is an undisputed fact. But things get muddled when it comes to where that energy comes from, i.e., fossil fuels vs. renewable sources. As much … [Read more...] about Environmentalists say Bitcoin must do what Ethereum is doing to fix climate impact