ethereum will jettison speedier proofofstake

Think10 Capital Dan Copsey Alex Roberts Rohan Mewes Cohen Sizemore Josh Donovan Stephanie Babinczky Rui Baptista Timothy Dowling #digitalassets #crypto #esg #renewable #bitcoinmining I'll post a couple links in comments for those who'd like to dig a bit further into the subject. Through their certification processes, bitcoin miners can share data on overall energy usage, electricity, renewable infrastructure, and then receive a net-impact score. Of recent, we’ve seen groups like Energy Web offer approaches to evaluating the material impact of Bitcoin miners through their 'Green Proofs' for BTC which will support sustainable and responsible mining through certification. Of course the upcoming ETH Merge narrative has also surfaced the issue of energy consumption whereby ETH will switch from Proof-of-Work to Proof-of-Stake, and energy consumption within the ETH network will be reduced 99.95%. There's been a large increase in a hybrid mining model which captures solar, wind, and nuclear to be used across day and night cycles.

but it's certainly something worth working toward. The BMC claimedd that Bitcoin mining is becoming “one of the most sustainable industries globally.' I'm not entirely sure about that. In the Bitcoin Network's Q2 2022 review, recorded usage of sustainable energy increased 6% from Q2 2021. Of course we’ve seen things like El Salvador's geothermally powered Bitcoin mining rigs and efforts from the Bitcoin Mining Council (BMC) advocating for renewable mining.Īccording to their July report, the BMC claimed that nearly 60% (59.5%) of electricity used to power Bitcoin mining rigs comes from renewable sources. When it comes to encouraging transparency and ESG in Bitcoin mining and broader crypto practices, this is something important. There has certainly been an increase in the ESG conversation in the institutional world over the past few years in particular (I'll leave the whole being perceived as ESG friendly and virtue signalling thing aside for now). Institutional players like BlackRock, Morgan Stanley, and JP Morgan are all committed to driving progress on the levels of environment, social, and governance (ESG) when it comes to their investment footprints. The institutional narrative of ESG and green Bitcoin.

Ethereum will jettison speedier proofofstake