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RE: Cryptocurrency Mining and Climate Change - Burning Fossil Fuels to Power Crypto

in #environment6 years ago (edited)

Hi @numundo !

Also trying to figure this out !

Here are a few links that tend to claim that bitcoin energy consumption (which is based on a PoW) might *not * be a problem :

PoS (already used by wave and soon by ETH) is generally presented as a more environmental-friendly consensus algorithm . However it might lead to a centralized crypto financial system (https://www.coindesk.com/proof-of-stake-could-lead-to-crypto-banking-lets-avoid-that)

I'm convinced by the idea of commons and real P2P economy built upon blockchain technology (see for example the democracy.earth or the holochain projects).

But yes the question remains : how to build a decentralized system that can allow trust between participants without the need of outrageous amounts of energy to run the network ?

Maybe that projects such as burstcoin that use free disk space to secure the blockchain (Proof-of-Space) is a good starting point : https://www.burst-coin.org/