The latest report by Imperial College Business School shows that ignoring the environmental costs of crypto mining could be “a grave mistake”.
The author suggests moving to environment-friendly methods and adopting greener alternatives like Proof-of-Stake.
The Imperial College Business School has released a new report stressing the need to make cryptocurrencies less energy-intensive in order to protect the planet.
The report “Damage Litigation: Cryptocurrencies and Climate Change” mentions that continued investments in energy-sensitive cryptocurrencies could increase the probability of a global climate crisis. The report’s author Carmine Russo, a visiting researcher at the Centre for Climate Finance & Investment at Imperial College Business School said that the major pollution caused by digital assets is generated through byits mining procedure.
This is concerning cryptocurrencies that use the Proof-of-Work consensus mechanism, most notable for being used by Bitcoin. This...
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