Bitcoin and Co. create problems that concern us all because the energy requirements of cryptocurrencies are enormous. There are solutions, but the question remains: Why not do it right from the start?
Green energy for Bitcoin and Co.
Extreme increases in value and a completely new means of payment, safe, digital, and anonymous ( but is that true? ) – Bitcoin and other cryptocurrencies meet many of the criteria that are set for (digital) currencies today. But all of this comes at a price – nothing is free, especially bitcoins are not, even apart from their astronomical value.
Because for mining – digital production – but also transactions using crypto, enormous computing power must be provided by computers. The high level of security and encryption cannot do without a lot of electricity so that there is even talk of the end of Bitcoin. The “Crypto Climate Accord” initiative wants to change that and “green” cryptocurrencies and other blockchain projects. It’s about making digital projects with high computing requirements more sustainable.
To this end, the actors who have gathered behind the “crypto-climate agreement” want to take a multi-track approach. Processes should become more efficient and consume less electricity. Ambitious goals are set: by 2025, all processes based on blockchain technology are to be converted to electricity from renewable energy sources. In 2040, the entire crypto industry should work emission-free, so the demand.
Green bitcoins: you can cut a slice of this
I think it’s a good idea. So good that I have to ask myself why not do it this way right away? Anyone who takes climate protection seriously would not only have to rethink and reorganize existing technology, as the automotive industry is currently doing. For every new technology, sustainability should rather be the benchmark as it develops.