Cryptocurrency

Minar cryptocurrencies is a new threat to the planet

A recent study conducted by a team of scientists, belonging to the University of Hawaii at Manoa, says that minar cryptocurrencies is an activity that is leaving a strong footprint on the climate change, and that in a few years, specifically for the 2033, the mining of Bitcoin and other cryptocurrencies, it will emit enough carbon dioxide to raise global temperatures by 2ÂșC. For the study we performed an analysis of the efficiency of computers used for mining cryptocurrencies during the year 2017; and found that this activity caused the emission of more than 69 million tonnes of carbon dioxide only in the year studied. For the co-author of the study, Katie Taladay, is activity, to continue in that way, it will become one of the main responsible for climate change, in a list which include the food industry, housing and transport. The leader of the study, Camilo Mora, ensures that it does not attempt to predict the future of the cryptocurrencies; however, they think that, even being taken of the more slowly as possible, its influence on climate change would be imminent. For Camilo, it is of dire need that is to achieve reduce the demand of electricity to carry out such activity, mainly generated by fossil fuel. Currently, the criptomoneda highest demand on electricity is the largest ecosystem, the Bitcoin. Was the first to be launched, specifically in the year 2009; it now shows an amazing advance; many businesses large and small accept it as means of payment; and with every day that passes, the adoption is growing exponentially.

Why minar cryptocurrencies consume so much electricity?

In recent years we have seen the major news sources talk about the harm that can come to be the mining cryptocurrencies; but what both there any truth in this? then an explanation as to why these news. As we have already said, Bitcoin is the most consumption of electricity has led to this minar cryptocurrencies, so let’s unpack this issue using it as a reference. Bitcoin utilizes a network cryptographic which is accomplished to verify the authenticity of the transaction; this does not cause human labor in itself, however, the electricity is indispensable. This is because that this verification process needs the famous mining cryptocurrencies, an activity where many people come together to decrypt cryptographic operations are complex, but they are not the ones who solve the riddles, but rather the computers that are available for the activity, hence the power consumption. This activity provides a profit to those who carried out the verification of transactions and to leave a mark in a book indelible. The juicy profits that can be obtained thanks to minar Bitcoin has caused an exponential increase in the mining, generating a greater difficulty in the resolution of the operations and increase the security of your string blocks; as a consequence of all this, a large consumption of electricity. Currently, the processing power in the blockchain of Bitcoin is in the area of historical highs, which shows the steady increase of entry of new teams able to solve the complex operations, and, consequently, an increase in energy consumption. Hash rate of Bitcoin (processing power of network Bitcoin). Source: blockchain.com. Index of energy consumption of mining Bitcoin. Source: digiconomist.com

It is difficult to think that the mining cryptocurrencies will cease to exist

Despite the large number of detractors of this new technology, all point towards a constant evolution of the same. Many think that, even with an expenditure of energy is exorbitant, the mining criptos will continue to exist; therefore the lack of hierarchy in this system encourages people to look for new and better alternatives, that at some point in time take to solve the problem more important, the high consumption of electricity and its influence on climate change. The following two tabs change content below. Creative editor and trader of cryptocurrencies, currencies, fiat, and commodities.

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