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24.02 - 20:13
Cryptocurrency, NFTs and the metaverse threaten an environmental nightmare – here’s how to avoid it
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As concerns rise and hearings are held in the US about the cryptocurrency industry’s effect on the environment, it’s time to address blockchain’s poor sustainability record.
The first port of call should be changing how transactions on the blockchain operate – a move which could cut its energy usage by 99.99%.
A cryptocurrency is a digital representation of value that, unlike traditional money, isn’t issued by any central bank or agency.
Cryptocurrencies are powered by blockchain technology, which allows the exchange of virtual coins like bitcoin and ether. Cryptocurrency mining is the process of creating new coins by solving complex mathematical problems.
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