Can Blockchain Technology and Sustainability Coexist?

Environmental problems have been one of the most pressing issues all countries are facing. Throughout the years, various factors have damaged the environment, resulting in global warming and climate change. Ice on rivers and lakes has melted up, glaciers have shrunk, trees have begun to bloom earlier, and plant and animal ranges have altered. Prolonged, more intense heat waves, sea ice loss, rapid sea-level rise are all effects that experts anticipated would eventually occur because of global climate change in the past. 

With the rapid digitalization and the growing interest in blockchain, energy consumption continually increases, posing dangers to the environment. 

Blockchain is a method of data storage in a way that is difficult or impossible to alter, hack, or cheat. A blockchain is a transaction or digital log that is duplicated and distributed across the blockchain’s complete network of computer systems. 

Blockchain technology provides many investment opportunities to investors and business owners via digital assets like non-fungible tokens (NFTs). To successfully operate blockchain, you would need electronic gadgets for long hours, increasing energy consumption per user. For example, individuals investing in crypto mining use mining machines that exhausts huge amount of non-renewable energy and emit carbon footprints. NFT games also require players to use gadgets for longer hours, requiring them to use more electricity. 

If you are interested in blockchain technology but do not want to contribute to excessive energy consumption, there are various alternatives for you like everything green. Companies like Everything Green offers various alternatives such as green energy to aid investors and business owners who want to switch to renewable energy. 

Green energy comes from natural resources such as sunlight, water, and wind, making them more sustainable. Green energy is practically unlimited, making it more efficient for industries that use an excessive amount of energy, such as blockchain technology.