Environmental impact of crypto projects - From Bitcoin to Steemit.

josevas217 (79)CO [Admin]in Steem Alliance • 10 months ago

Greetings to all users who make life in this community.

Today I want to share information regarding a topic I have been thinking about and researching, and it has to do with the environmental impact through energy consumption by some crypto projects, starting with the main cryptocurrency, Bitcoin.

One of the main criticisms that Bitcoin receives is its high energy cost to be able to perform the mining process, this to my mind is a negative point, which is known as proof of work.

In the case of Ethereum, second currency in importance according to market capitalization, previously had this same situation, but a few months ago they made a change in the way to keep the Blockchain working. Now it works with proof of stake, which has made the energy consumption practically zero.

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Currently there are many projects that have opted for different models to support the blockchain in particular, always facing the fact that we are at a time in history where environmental problems are evident and largely many changes are taking place at the technological level with the intention of reducing the carbon footprint and its effects on the planet.

It is here where I think that the projects that could have more future will be not only those that have something new to offer, but that consider the use of energy, since most of this is given by the use of hydrocarbons to produce it.

There are projects that are considering the use of energy from volcanoes, as in the case of El Salvador, to be able to mine Bitcoin, it is clean energy, this is a good example of a possible solution.

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We are fortunate that this cryptographic project called Steemit uses a type of delegated proof of stake, which allows the Blockchain to remain active, creating a block every 3 seconds with practically zero energy consumption.

Steemit is energy friendly

This is something that makes me think that this project still has a lot to offer, and that it has great advantages that undoubtedly put it above many others, beyond the time it has been active, more than 6 years, something that not many projects manage to do.

I do not know if in 2016, when this project started, the creators had in mind the environmental care and that the excessive use of energy could become a limitation of the project in the future, but what is very certain is that the way in which Steemit was conceived was very successful.

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And Steemit's blockchain is not only "non-polluting", but it is very fast, so I think that if those who know programming wanted to make it scale further, it could, as it has many strengths, including a loyal group of users.

Conclusion

There are thousands of projects today, some of them are going to disappear, thousands of others have emerged and disappeared in a short time. But Steemit is still active, as is Bitcoin, of course, despite its energy cost.
It is clear that the permanence of a crypto project does not depend only on this factor (energy), but on a set of characteristics that together give value to the project.

But in view of the current reality regarding the current environmental race, it is necessary to consider this factor don't you think?.