RATE Group | It alone could produce enough emissions to raise global temperatures as soon as 2033 — …
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It alone could produce enough emissions to raise global temperatures as soon as 2033 — …

30 Oct It alone could produce enough emissions to raise global temperatures as soon as 2033 — …

Posted at 18:20h in Bitcoin News by

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A new study published in the peer-reviewed journal Nature Climate Change finds that if Bitcoin is implemented at similar rates at which other technologies have been incorporated, it alone could produce enough emissions to raise global temperatures by 2°C as soon as 2033.

“Bitcoin is a cryptocurrency with heavy hardware requirements, and this obviously translates into large electricity demands,” said Randi Rollins, a master’s student at the University of Hawaii at Manoa and coauthor of the paper.

Purchasing with bitcoins and several other cryptocurrencies, which are forms of currency that exist digitally through encryption, requires large amounts of electricity. Bitcoin purchases create transactions that are recorded and processed by a group of individuals referred to as miners. Miners group every Bitcoin transaction made during a specific timeframe into a block. Blocks are then added to the chain, which is the public ledger. The verification process by miners, who compete to…

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