Climate Change

Mozilla – the non-profit behind the Firefox browser – has revised its crypto donation policy following backlash online about the technology’s energy use. Now, it will continue to accept some cryptos, but refuse Bitcoin and other proof of work cryptocurrencies. Proof of work (POW) cryptos require electricity/ computing power for users to compete to construct a block of transactions. By contrast, proof of stake (POS) cryptocurrencies make users stake their crypto holdings for the right to create a block. This…

The fight against global warming spurs various initiatives that, in turn, create financially progressive markets. One of them is the fast-developing market of crypto carbon offsets. And, according to a report from The Wall Street Journal (WSJ), millions of carbon credits are now linking with cryptocurrencies. Furthermore, this connection lures numerous DeFi projects and long-time crypto investors like billionaire Mark Cuban. Last year, we saw the first carbon-neutral ETFs. This new development could lead to creating a multi-billion market with…

After being dubbed as a climate warming accelerator, Bitcoin is about to change sides and fight climate change. Is it possible for an industry that spends almost 0.13% of the world’s annual power consumption only on mining Bitcoin to become eco-friendly? And, if so, how will it go about it? Today, we take a closer look at the challenges that cryptocurrency faces in its bid to become “green.” We delve into alternatives to the energy-devouring mining process and how the…