Most of us now know that cryptocurrency mining and common blockchain activities use a lot of energy. Globally, Bitcoin itself Cambridge Research.. From this point of view, it doesn’t seem like an emergency. Still, Ark investment Bitcoin was found to use less than 10% of the energy required to run a traditional banking system. This is a huge deal for industries that want to compete with the global financial system.
It is no exaggeration to say that Bitcoin has not destroyed the earth. Still. If cryptocurrencies want to expand into global adoption, they need to find solutions to these problems before the infrastructure takes hold and exponential energy demand begins to take the network offline.
But things aren’t as bad as they look. Many companies have realistic plans to transform blockchain energy consumption standards.