2023
DOI: 10.1021/acs.est.2c05165
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Confronting the Carbon-Footprint Challenge of Blockchain

Abstract: The distributed consensus mechanism is the backbone of the rapidly developing blockchain network. Blockchain platforms consume vast amounts of electricity based on the current consensus mechanism of Proof-of-Work (PoW). Here, we point out a different consensus mechanism named Proof-of-Stake (PoS) that can eliminate the extensive energy consumption of the current PoW-based blockchain. We comprehensively elucidate the current and projected energy consumption and carbon footprint of the PoW-and PoS-based Bitcoin … Show more

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Cited by 10 publications
(4 citation statements)
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“…Since blockchain networks are so high in power consumption, many are worried about their carbon footprint and how NFTs will affect the environment. Mining and validating transactions on these networks need a lot of power, and much of that power comes from fossil fuels, which adds to global warming and other negative environmental impacts [107], [108].…”
Section: E Environmental Challengesmentioning
confidence: 99%
“…Since blockchain networks are so high in power consumption, many are worried about their carbon footprint and how NFTs will affect the environment. Mining and validating transactions on these networks need a lot of power, and much of that power comes from fossil fuels, which adds to global warming and other negative environmental impacts [107], [108].…”
Section: E Environmental Challengesmentioning
confidence: 99%
“…As of July 13, 2023, two million users have provided their biometric data mainly a scan of their iris, which serves as proof for being a human rather than a bot. Lastly, considering the environmental implications, it is essential to acknowledge and address the unsustainable energy consumption associated with blockchain technology, especially for possible healthcare applications such as radiology [23]. While traditional blockchains are notorious for their high energy demands, moving forward, selecting energy-efficient models is crucial.…”
Section: Nfts In Radiologymentioning
confidence: 99%
“…Limitations in scalability and vulnerability to attack are the main drawbacks of PoW [20]. Those limitations and possible environmental impacts due to low energy efficiency [21] are the main reason for the growing popularity of other algorithms.…”
Section: Consensusmentioning
confidence: 99%
“…To validate the transaction more than half of the selected users must accept the information, which is passed as a request. In comparison with PoW, PoS reduces energy consumption due to the absence of mining [21]. Even though PoS became more popular due to better energy efficiency, it also has its challenges.…”
Section: Consensusmentioning
confidence: 99%