It wasn’t long ago non-fungible tokens (NFTs) were making headlines for their excessive environmental impact. Most of these NFTs were making use of the Ethereum blockchain or a related platform, which meant they were also impacted by the energy-hungry proof-of-work (PoW) mechanism that was part of Ethereum until …
Digiconomist has launched a new API for developers to retrieve energy consumption and carbon footprint data on the Bitcoin, Ethereum and Dogecoin networks.
For many years, the Bitcoin community has argued that the network is running on a significant share of renewable energy sources.
“Should bitcoin’s mass adoption continue, an escalating climate crisis is inevitable, disproportionately exacerbating social and environmental challenges for communities already experiencing multiple dimensions of deprivation.“
Almost five years after Digiconomist first started providing insights into the energy consumption of the Bitcoin network, a new study in collaboration with Christian Stoll from MIT now provides new insights in another major component of Bitcoin’s wasteful design.