Beijin, China–(Newsfile Corp. – May 30, 2021) – The carbon emission problem has been repeatedly talked about ever since the Paris Agreement was signed by nearly 200 parties in 2016. As the cryptocurrency craze swept the world in 2020, worries arose about the high energy consumption generated to mine the likes of Bitcoin. The massive energy consumption around its Proof of Work (PoW) method of consensus is regarded as one of the key issues plaguing the whole industry. As a result, PoW has become a huge obstacle hindering Bitcoin, Ethereum and other PoW based blockchain consensus models from mass adoption. For any emerging technology to go mainstream, the potential impact it has on the environment plays a vital role and may lead to various difficulties if not dealt with properly.
A famous automobile manufacturer recently changed its attitude towards accepting BTC as payment for its cars due to climate concerns, causing a new round of controversies about the actual benefits of blockchain and related industries, including DeFi. On the positive side, the concept of blockchain and cryptocurrencies is drawing unprecedented attention. However, criticism is building in prominent sectors of the media, accusing the tech of operating at the cost of the environment.
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Contact: Shixi
Company Name: RChain COOPERATIVE
Address: 12345 Lake City Way NE Suite 2032 Seattle, WA 98125
Website: https://rchain.coop/
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