Harvard Business Review: solar and PoS can make the crypto currency mining more sustainable

This article from the author: Babbitt, Captain Hiro, the daily planet authorized forwarding.

 Harvard Business Review: solar and PoS can make the crypto currency mining more sustainable (source: Maxpixel)

According to BTCManager reported in November 29th, a large amount of energy consumption is the defective block chain technology, a report however “Harvard Business Review” published recently revealed some small or zero energy consumption, alternative energy for distributed mining technology books (DLT) become a global insurgents to pave the way.

The digital currency mining more environmentally friendly

Block chain technology potential has been acknowledged by private entities and governments around the world. Although there are indeed some people criticized this technology, but most people can not deny the plasticity of the blockchain, at the same time block chain technology has become the ideal choice for some industries.

However, the block chain technology is a major pain point is that it will consume a lot of energy. A recent report pointed out that the single is bitcoin mining can make the global temperature increase of 2 degrees.

In addition, another report pointed out that in 2017 the use of technical books distributed power in more than 159 countries including Nigeria, Ireland and Uruguay, the annual electricity consumption. In turn, this serious problem may also pose a huge threat to the Paris agreement on climate change.

Fortunately, as long as the encryption currency mining enterprises to take measures to reduce the rising cost of energy, then triggered bitcoin mining environmental concerns can be solved effectively.

Solar.

A better solution brought by encryption currency mining climate threat is the use of renewable and eco-friendly energy. “Harvard Business Review” published the report pointed out that solar energy could be a sustainable choice of encryption currency mining activities.

If there is enough incentives to encourage miners using solar energy, then the encryption currency mining caused by the imminent threat will be eased to a great extent. For example, Iceland based Genesis Mining bitcoin mining in the cloud and etheric workshop by using 100% renewable energy.

In addition, if necessary, the government can also be fined in a short period of time to eco-friendly mining entity.

Switching from PoW to PoS

Nakamoto So in the bitcoin is used in the proof of work: some computer compete with each other so as to solve a series of complex mathematical problems, finally generate the verify block chain transactions “”. In return, the winning system will get bitcoin reward.

However, due to rising concerns about encryption currency mining economic and ecological sustainability, many new blockchain has turned more environmental rights proof system, the system of eliminating the competition factors between the verification system.

A great advantage of PoS system is its energy efficiency, because of a problem which allows each participating machine or “validator”, rather than the PoW as a large number of miners are in a race to solve a computational problem.

Therefore, the abolition of the use rights proof system in recent years has been criticized, expensive and energy intensive machine.

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