Blockchain Technology is environmentally friendly. Is it a Myth or a Reality?
Sep 10, 2020
Fintech isn’t often associated with environmental concerns, but cryptocurrencies like bitcoin are already using more energy than the whole country of Sweden, raising concerns about their carbon impact.
According to a study conducted by the University of Cambridge, the bitcoin network consumes more than 145 terawatt-hours (TWh) each year, putting it in the top 30 global energy users.
Crypto mining (the process of validating transactions) requires a tremendous amount....
Fintech isn’t often associated with environmental concerns, but cryptocurrencies like bitcoin are already using more energy than the whole country of Sweden, raising concerns about their carbon impact.
According to a study conducted by the University of Cambridge, the bitcoin network consumes more than 145 terawatt-hours (TWh) each year, putting it in the top 30 global energy users.
Crypto mining (the process of validating transactions) requires a tremendous amount....