Author Topic: How can crypto be more "green"?  (Read 1178 times)

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Offline EmulionTopic starter

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How can crypto be more "green"?
« on: February 17, 2022, 12:55:05 PM »

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A lot of anti-crypto or anti-Bitcoin invoke pollution and the huge consumption of electricity. But, what if we can change all that?

Hear me out, what if a regenerative crypto-economic system could be implemented? Apparently for Ethereum, switching from proof of work to the long-expected proof of stake will reduce the energy consumption by 99.95%.


There are already some other DAO's out there that have a positive impact on the ecosystem like KlimaDAO, Proof of HumanityDAO, or GitcoinDAO.
What do you guys think? In my opinion, after all, crypto is about changing the world, liberty, and independence, I think it would be only fair and part of implementing it to protect our planet and environment, if more projects switch to proof of stake, they can sustain the ones that use proof of work(like Bitcoin) as well.

Offline HeavLeighGill

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Re: How can crypto be more "green"?
« Reply #1 on: June 07, 2022, 12:50:52 AM »
I think it would be amazing to see more projects geared towards helping the environment. When I originally opened a trading account, part of the reason that I chose that broker (CedarFX) was because they offered an Eco account where money made from commissions went towards planting trees to help the environment. I thought that it was a great, unique idea, especially to be offered by a broker. I think their idea is just scratching the tip of the iceberg and we could see a huge impact if more people came on board and started thinking outside the box.

Offline forest

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Re: How can crypto be more "green"?
« Reply #2 on: June 20, 2022, 04:02:30 PM »
For crypto to become greener, I think it needs to address several points. First, as far as I know, not all consensus mechanisms are equally energy efficient. I think proof of work performs much worse than proof of stake or proof of personhood, for example. Changing that would be a possible first step. Ethereum is planning to switch from proof of work to proof of stake. I am curious to see how and when this will be implemented. And whether other cryptocurrencies will be motivated to take this step as well.

A second starting point would be that only sustainable electricity should be used for cryptocurrencies. If the energy used can be covered by renewable energies, a lot would be gained. You just have to make sure that this green electricity is not lacking elsewhere.

 

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