The dark (climate) side of crypto - Crypto in Plain English – Episode 17 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it21 Loka 2021

The dark (climate) side of crypto - Crypto in Plain English – Episode 17 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

Today: Crypto’s impact on climate change.

Blockchain technologies – to the enthusiasts, they promise endless financial freedom and the ability to finally take part in the web economy. But does all that come at the expense of our environment?

Yes, for some blockchains, it really does. Bitcoin is probably the largest offender. Never built with energy efficiency in mind, a single transaction on the largest cryptocurrency uses as much power as 700 thousand Visa card transactions or 55 thousand hours of watching Youtube. And that won’t change, because Bitcoin’s technology is locked in place.

And similarly, an Ethereum transaction is estimated to use a week’s worth of energy for an average US household.

But not all is lost. The problem is that those two examples use “proof of work” - meaning the solving of complex computer problems - as a way to validate transactions. Climate-friendly approaches favor “proof of stake” - meaning that owning a large stake gives validators the power to approve transactions nearly instantly.

Ethereum will actually switch to “proof of stake” in early 2022, likely reducing energy consumption by 99% in the process. Called Ethereum 2, this update is the most important it has ever gone through.

And now you know why crypto can be bad for the planet if done wrong.

And tomorrow, we’ll talk about what a wallet is and how it works.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

How NOT to release an NFT – The Porsche disaster - Episode 349 - by cryptohunt.it

How NOT to release an NFT – The Porsche disaster - Episode 349 - by cryptohunt.it

How NOT to release an NFT – The Porsche disaster Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: ...

31 Tammi 20232min

Why are crypto taxes still so complicated? - Episode 348 - by cryptohunt.it

Why are crypto taxes still so complicated? - Episode 348 - by cryptohunt.it

Why are crypto taxes still so complicated? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In pla...

30 Tammi 20232min

What is Dollar-Cost-Averaging? - Episode 347 - by cryptohunt.it

What is Dollar-Cost-Averaging? - Episode 347 - by cryptohunt.it

What is Dollar-Cost-Averaging? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changing ideas. As always: In plain English. ...

27 Tammi 20233min

Why do crypto bridges keep getting hacked? - Episode 346 - by cryptohunt.it

Why do crypto bridges keep getting hacked? - Episode 346 - by cryptohunt.it

Why do crypto bridges keep getting hacked? Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: In plain Englis...

26 Tammi 20232min

How North Korea stole $100m in crypto - Episode 345 - by cryptohunt.it

How North Korea stole $100m in crypto - Episode 345 - by cryptohunt.it

How North Korea stole $100m in crypto Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: In plain English. Yo...

25 Tammi 20232min

A brief history of Gemini and its founders, the Vinkelvoss twins - Episode 344 - by cryptohunt.it

A brief history of Gemini and its founders, the Vinkelvoss twins - Episode 344 - by cryptohunt.it

A brief history of Gemini and its founders, the Vinkelvoss twins Good morning, Cryptohunt community, to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and oth...

24 Tammi 20232min

What is a short squeeze, and why Bitcoin is over $23,000? - Episode 343 - by cryptohunt.it

What is a short squeeze, and why Bitcoin is over $23,000? - Episode 343 - by cryptohunt.it

What is a short squeeze, and why Bitcoin is over $23,000? Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other game-changing ideas. As always: ...

23 Tammi 20232min

SBF wasn't lying for once, and FTX customers in the US may actually get their money back - Episode 342 - by cryptohunt.it

SBF wasn't lying for once, and FTX customers in the US may actually get their money back - Episode 342 - by cryptohunt.it

SBF wasn't lying for once, and FTX customers in the US may actually get their money back Welcome to the Cryptohunt Jam, where we spend a minute a day explaining what is happening in crypto and other g...

20 Tammi 20232min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
herrasmieshakkerit
rss-rahamania
ostan-asuntoja-podcast
rahapuhetta
rss-doulapodi
rss-sami-miettinen-neuvottelija
juristipodi
rss-lahtijat
rss-paasipodi
rss-sisalto-kuntoon
pomojen-suusta
yrittaja
rss-muutoksenanatomiaa-podcast
rss-uppoava-vn-laiva
rss-bisnesta-bebeja
rss-tarkeista-asioista-2