The keywords in crypto trends these days are sustainable and environment-friendly. There are various environmentally-sustainable cryptocurrencies that are popping up left and right. The conversation around the environmental aspect of cryptocurrencies started with crypto mining. Crypto mining is the process of minting new crypto coins that involve heavy use of powerful GPUs. These then require a lot of electricity, which is creates an enormous carbon offset. Even Elon Musk, who was an avid supporter of cryptocurrencies, spoke against crypto mining.
The Environmental-Turn
Since then, crypto miners as well as traders have started to go down a different route. It’s no secret that humanity is facing a grave challenge in the form of climate change. Thus, the whole community of crypto is moving towards environmentally-sustainable processes. These include crypto mining using renewable energy sources as well as IoT (internet of things) that do not require powerful GPUs. Various cryptocurrencies are also actively donating to institutes that are researching on mitigating the effects of climate change as well as help people adapt to it.
In a sense, the field of crypto technology is becoming more and more aware about issues that matter – climate change, social action (decentralization), and whatnot. In light of such drastic change, Elon Musk has said that Tesla will once again start accepting Bitcoins once percentage of renewable energy sources usage goes above 50%. This is perhaps a very positive news for most crypto enthusiasts as Musk is one of the biggest personalities to have been actively involved with cryptocurrency.
