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๐๐ง๐ญ๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง
On 22 April 2022, Google released a doodle showing the time-lapse image of Earth in four different regions. Each of them has changed a lot due to climate change across the globe. This shows the Earthโs critical condition. Among the various aspects that damage the environment, global warming seems to be the most common cause of climate change.
๐๐ซ๐ฒ๐ฉ๐ญ๐จ๐๐ฎ๐ซ๐ซ๐๐ง๐๐ฒ โ ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐จ๐ซ ๐ญ๐จ ๐๐๐ซ๐๐จ๐ง ๐๐ฆ๐ข๐ฌ๐ฌ๐ข๐จ๐ง
The Crypto industry is also one of the contributors to global warming. Crypto mining consumes so much electricity and releases CO2 into the atmosphere.
๐๐ฉ๐ข๐ต ๐ฎ๐ช๐จ๐ฉ๐ต ๐ฃ๐ฆ ๐ต๐ฉ๐ฆ ๐ณ๐ฆ๐ข๐ด๐ฐ๐ฏ ๐ง๐ฐ๐ณ ๐ฎ๐ข๐ด๐ด๐ช๐ท๐ฆ ๐๐2 ๐ฆ๐ฎ๐ช๐ด๐ด๐ช๐ฐ๐ฏ๐ด?
Well, it is due to the Proof-Of-Work (POW) consensus mechanism of most of the cryptocurrencies. In POW, nodes have to solve complex puzzles to mine each crypto. Solving them will consume high energy and a powerful computer processor.
The higher the competition between the nodes to mine the cryptocurrency, the more will be the emission of CO2 and consumption of energy.
๐๐ข๐ฆ๐ ๐ญ๐จ ๐๐จ ๐๐ซ๐๐๐ง!
By keeping the environment in mind, the crypto industry has taken a step by introducing โgreen cryptocurrency.โ This will help reduce the carbon footprint. The main goal is to decarbonize the crypto industry and reach net-zero emissions from electricity.
Recently, the New York Government has passed a bill stating that a 2-year ban will be implemented for the new BTC mines that donโt use green power. Again, this is also a good step to reducing power consumption as well as carbon emissions in the environment.
๐๐ซ๐๐ฌ๐๐ง๐ญ๐ข๐ง๐ ๐๐ก๐ ๐๐ฎ๐ฌ๐ญ๐๐ข๐ง๐๐๐ฅ๐ ๐๐ฅ๐จ๐๐ค๐๐ก๐๐ข๐ง ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ
The crypto industry is shifting towards the Proof-Of-Stake (POS) mechanism to reduce the high power consumption.
There are a few impactful blockchains that are developed for preserving the environment like blockchain for improving air quality and forest restoration. Also, blockchain helps to keep track of data like carbon footprint, greenhouse gas emissions, an enterpriseโs environmental standard, and more.
On the other hand, the green smart contract is also getting attention in recent times. Using these smart contracts, we can cope with climate change and fight the various environmental issues. With such environmentally conscious blockchain solutions, we can surely restore a healthy atmosphere.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง
In this fight against global warming and climate change, we have to adopt various eco-friendly technologies similar to blockchain technology. Considering the different steps taken by the crypto industry, we can believe that the earthโs health condition can be restored soon!
Blockchain Firmโs ultimate goal is to help industries adopt sustainable blockchain solutions. Keeping the welfare of the ecosystem in mind, our suite of blockchain development services is completely environment-friendly.