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

Avsnitt(373)

How the future of music will look like with AI - Episode 365 - by cryptohunt.it

How the future of music will look like with AI - Episode 365 - by cryptohunt.it

How the future of music will look like with AI 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...

22 Feb 20232min

How a future with AI will look like: No more “Googling” things - Episode 364 - by cryptohunt.it

How a future with AI will look like: No more “Googling” things - Episode 364 - by cryptohunt.it

How a future with AI will look like: No more “Googling” things 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 idea...

21 Feb 20232min

How a future with AI could look like for movies - Episode 363 - by cryptohunt.it

How a future with AI could look like for movies - Episode 363 - by cryptohunt.it

How a future with AI could look like for movies 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: I...

20 Feb 20232min

A brief update on FTX - Episode 362 - by cryptohunt.it

A brief update on FTX - Episode 362 - by cryptohunt.it

A brief update on FTX 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. It’s been...

17 Feb 20232min

Could stablecoins allow the entire world to switch to the US Dollar? - Episode 361 - by cryptohunt.it

Could stablecoins allow the entire world to switch to the US Dollar? - Episode 361 - by cryptohunt.it

Could stablecoins allow the entire world to switch to the US Dollar? Welcome to the Cryptohunt Jam, where you learn – in just a minute or two a day – what is happening in crypto and other game-changin...

16 Feb 20232min

Why is the US government attacking stablecoins? - Episode 360 - by cryptohunt.it

Why is the US government attacking stablecoins? - Episode 360 - by cryptohunt.it

Why is the US government attacking stablecoins? 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: I...

15 Feb 20232min

What is ERC-20 Recovery? - Episode 359 - by cryptohunt.it

What is ERC-20 Recovery? - Episode 359 - by cryptohunt.it

What is ERC-20 Recovery? 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. Coinba...

14 Feb 20232min

Is the US banning staking? - Episode 358 - by cryptohunt.it

Is the US banning staking? - Episode 358 - by cryptohunt.it

Is the US banning staking? 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. Toda...

13 Feb 20232min

Populärt inom Business & ekonomi

framgangspodden
varvet
rss-jossan-nina
svd-tech-brief
badfluence
rss-svart-marknad
uppgang-och-fall
bathina-en-podcast
avanzapodden
tabberaset
rss-inga-dumma-fragor-om-pengar
24fragor
rss-kort-lang-analyspodden-fran-di
rss-borsens-finest
rss-dagen-med-di
kapitalet-en-podd-om-ekonomi
borsmorgon
fill-or-kill
rss-veckans-trade
lastbilspodden