https://grist.org/article/bitcoin-could-cost-us-our-clean-energy-future/
Seems like a large issue as cryptocurrency scales exponentially and mining becomes more and more difficult and high-stakes.
Thoughts? Anyone see this being addressed, specifically for currencies like Bitcoin that are not considering PoS?
Hi @numundo !
Also trying to figure this out !
Here are a few links that tend to claim that bitcoin energy consumption (which is based on a PoW) might *not * be a problem :
PoS (already used by wave and soon by ETH) is generally presented as a more environmental-friendly consensus algorithm . However it might lead to a centralized crypto financial system (https://www.coindesk.com/proof-of-stake-could-lead-to-crypto-banking-lets-avoid-that)
I'm convinced by the idea of commons and real P2P economy built upon blockchain technology (see for example the democracy.earth or the holochain projects).
But yes the question remains : how to build a decentralized system that can allow trust between participants without the need of outrageous amounts of energy to run the network ?
Maybe that projects such as burstcoin that use free disk space to secure the blockchain (Proof-of-Space) is a good starting point : https://www.burst-coin.org/
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