How Cryptocurrencies contribute to Global warming?

Hello Steemians. You might find it strange if I relate cryptocurrencies with Global warming. Obviously people think that Global warming is totally a different topic related to science and it is no way related to cryptocurrencies. But what if I tell you cryptocurrencies are becoming a major contributor to Global warming? Sounds strange? Keep reading.

There are serious hopes and views about the future of cryptocurrencies. People are optimistic about the cryptocurrencies as it is going to change the world to a different level where all the sectors and business will become blockchain dependent in future. The improvement in this technology will facilitate easy access to medical care in a democratic way. Though all these are good, there is also a darker side evident here. Due to the immense energy consumption of the blockchain technology, there can be a direct impact on the climatic change happening. This will ultimately lead to global warming and make the environment not suitable for humans in the future. The major impact is created by the top cryptocurrencies like bitcoin and ethereum.

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Cryptocurrencies and climate change

Cryptocurrencies become a threat to the environment because they consume lots of energy in the mining process. During the recent times as the cryptocurrencies are gaining more popularity, the investments in the mining process is also drastically increasing. Knowingly or unknowingly the increase in mining units has direct impact on climate changes. Most of the energy generated and used in the world are by burning fossil fuels. Mining cryptocurrencies can have a great impact on the weather changes or climate changes because the mining activity consumes enormous amount of energy.

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There are lots of research works going on to find a way to make this mining process simple without lots of impact on the climate change. The cost that today we pay to get a bitcoin also involves the cost it took to mine it by the miners. Global warming is a troubling factor for this world due to various reasons. Every decade we get new threats that starts affecting global warming. This decade cryptocurrency mining took the responsibility to increase global warming and climatic changes.

Renewable energy sources can be a solution

The world is not fully dependent on fossil fuels. There are lots of advancements happening and we have found out many alternative methods to generate electricity/produce energy that we need to run this world. Most of the advanced countries are already moving towards renewable sources of energy. To fuel the energy need for cryptocurrency mining, renewable sources of energy may not be highly reliable because of the following drawbacks they have:

• Bigger infrastructure
• Not as efficient as fossil fuels in energy production
• Getting 100 % efficiency can be challenging
• Always reliable on weather conditions and other natural phenomenon
• They are inconsistent and difficult to predict in terms of output

Image Source - Pexels

If the above mentioned problems are sorted, then we will be able to make use of renewable resources to mine cryptocurrencies. I personally believe that cryptocurrencies and blockchain technology is going to be future for all the sectors in the world. It will be great if we be little more responsible and look for a solution to handle the energy, climate and global warming issues.

Thanks for reading the article!