I want to share a fantastic podcast – A Matter of Degrees by Dr. Leah Stokes and Dr. Katharine Wilkinson – that discusses very clearly the terrible environmental impact of the crypto sector.
By definition, most crypto tokens use a proof-of-work system that essentially consumes (and wastes) excessive amounts of energy in resolving cryptographic problems. The energy required is being generated using fossil fuels directly, or by renewable sources, but in the latter case, forcing other energy users to revert to electricity generated by fossil fuels. Estimations put energy consumption by the crypto sector at 1% of the total global consumption.
Not surprisingly, crypto fans (especially bitcoin maxis) argue that crypto is using unused excess capacity, therefore making the whole energy system more efficient. Obviously, this is incorrect, and the podcast talks about this.
You can listen to the podcast on the Apple Podcast app or spotify.
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