Does blockchain technology pose a threat to the environment?

[klassicdoll]

Blockchain technology's energy-intensive operation of producing new blocks on the blockchain and confirming transactions results in a considerable carbon footprint. Blockchain technology uses a lot of energy, which produces a lot of greenhouse gas emissions that fuel climate change. As a result, it significantly contributes to damaging the environment.

Thoughts on this?

 

[Suba]

Maybe what you mean is the impact of crypto mining which causes carbon emissions which can have a negative impact on the environment. Blockchain is just a ledger, and currently it has been widely applied in the world of education, banking, health, etc. Even though crypto runs on blockchain, not all crypto has to be mined, especially crypto that implements a PoS consensus mechanism such as Ether, ADA, Solana, etc.

 

[codescript94]

I believe that there must currently be technology to automatically convert this bad gas into good gas or not?

 

[Carson20t]

That is very true, Although not all of the Blockchain in Entirity produce actual waste which contributes to the greenhouse gas emissions because it is a network mechanism. But BTC which requires energy equivalent to energy consumed by the Netherlands to be mined is a huge source of concern in terms of environmental impact. But one of the advantages of the Blockchain is that it cannot be hacked. It also makes it impossible for counterfeit currencies copied or printed and it is super fast. So if you look at the current traditional banking systems you will notice that it beats these systems 500 times more.

The Blockchain can also be used to mitigate environmental impact challenges. So we just need the Blockchain because it is the future and the future has already begun.

 

[Fidelia]

The Blockchain is just an immutable digital record. It doesn't require the amount of energy you are mentioning to record something on a Blockchain. It is mining crypto rather that is a danger to the environment because of it's energy consumption.