Bitcoin and other cryptocurrencies are gradually becoming more sustainable
This is followed by a series of complex calculations before being recorded in the blockchain. The measurements are carried out by a team of miners. This party is also starting to make a major contribution to Bitcoin’s long-term viability.
Special computers are required to mine Bitcoin, and these consume a lot of energy. Although this was a significant environmental burden in the early years, the high cost of mining often forced miners to seek out alternative energy sources.
Although energy consumption has increased, the shift to primarily renewable energy sources has reduced the environmental “footprint” It makes no difference how many transactions there are in Bitcoin because it does not result in a major rise in energy consumption.
Other missing pieces contribute to its long-term viability.
The use of Bitcoin is mainly dependent on existing infrastructure, and banknotes and coins are not used.
As a result, the numerous transactions carried out with Bitcoin have no additional environmental impact and also outperform cash transfers and credit card payments.
The combined effect of transitioning to renewable energy sources for mining, combined with the advantages over other “traditional” types of payment, gives Bitcoin a green touch that is unmistakably in line with the targets that are now commonplace for almost any product or service provided.
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