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The Latest Hype in NFTs is a Climate Disaster: On-Chain Bitcoin NFTs

Digiconomist February 2, 2023 Latest, Sustainability

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 …

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3 Mar 1764275633180352896

It is well known that replacing the energy intensive mining mechanism in cryptocurrencies can make them significantly more sustainable, but it has also been argued this can make them less decentralized/secure. Digiconomist now features a new deep dive to examine this argument:

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22 Feb 1760580254920212640

Bitcoin has failed to become a global decentralised digital currency, instead falling victim to fraud and manipulation.

The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow and inconvenient, argues #TheECBBlog

https://www.ecb.europa.eu/press/blog/date/2024/html/ecb.blog20240222~0929f86e23.en.html

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