08/08/2022
So far, the ecological impact of cryptocurrency production has been a major concern. Offsetting Bitcoin’s carbon footprint would require planting 300 million trees, starting yesterday! 🌲
Luckily, the crypto industry has realized this problem and they are making a change. Since June 2022, crypto worldwide is greening up ✅
Most cryptocurrency today is mined through a proof-of-work (POW) system, which prevents fraud and ensure privacy. There’s incentive for central processing units (CPUs) to have the highest possible processing power, to be able to run multiple programs simultaneously 💻
High processing power = higher electricity use ⚡️ ⚠️
Further, there’s the issue of toxic waste. This industry results in waste that, experts anticipate, will soon approach 64,400 metric tons. That’s 9,700 elephants, for scale! 🐘😰
That’s why this change is so important!
“If a sustainable option already exists, then organizations with forward-facing environmental policies are sure to select it,” says Sid Lee’s Vice President and Head of Strategy, Yanick Bédard. “2022 will be a pivotal year.” ♻️
Spread the good news! Share it with your friends