Policy assessments CO2 sustainability of Bitcoin blockchain operation in China(nature.com)

Policy assessments CO2 sustainability of Bitcoin blockchain operation in China

https://www.nature.com/articles/s41467-021-22256-3

2 comments

dayre5 anni fa

With Bitcoin surging again & NFTs in the news there have been more stories on the energy requirements needed to drive these blockchain based systems. This is a great paper that really puts it into perspective.

"energy consumed by Chinese Bitcoin blockchain in 2024 will exceed the energy consumption level of Italy and Saudi Arabia"

blondie9x5 anni fa

From the article -> "Due to the proximity to manufacturers of specialized hardware and access to cheap electricity, majority of the mining process has been conducted in China as miners in the country account for more than 75% of the Bitcoin network’s hashing power, as shown in Fig. 1. As one of the largest energy consuming countries on the planet, China is a key signatory of the Paris Agreement18,19,20. However, without appropriate interventions and feasible policies, the intensive Bitcoin blockchain operation in China can quickly grow as a threat that could potentially undermine the emission reduction effort taken place in the country."