With the desire to eliminate centralization in transactions, came the Proof-Of-Work validation mechanism in Blockchain technology; thereby allowing users to validate Cryptocurrency transactions by solving a complicated mathematical problem. This consensus method which is used by Bitcoin and Ethereum has however become a major concern for environmentalists due to the huge amount of energy that mining with computers consume… and this means more carbon being released into the climate
According to https://www.businessinsider.com/personal-finance/cryptocurrency-environmental-impact?amp
In the US, Bitcoin mining creates an estimated 40 billion pounds of Carbon emissions while proof of work mining which requires a lot of computing power uses amounts of electricity capable of powering countries. Although Ethereum has announced that it plans to transition to environmentally-friendly proof-of-stake mechanism, a validation mechanism which is already being used by the likes of BNBChain and Zetrix Blockchain networks, Cointelegraph however reported that
Bitcoin may not be making this switch to proof-of-stake anytime in the near future.
Although Proof-Of-Work is touted by some as the most reliable method of reaching consensus on Blockchain as it ensures absolute decentralization while removing intermediaries, the far less carbon footprint from Proof-of-stake models such Zetrix, Solana, BNBchain and many others cannot be shoved aside . In view of these environmental concerns, should Proof-of-work models still be embraced seeing that Blockchain adoption is becoming increased by the day?
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source https://www.reddit.com/r/btc/comments/uw892b/should_proofofwork_blockchain_networks_still_be/
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