Skip to main content

IPCC on CO2 emissions from cryptocurrencies: "Growing concern"

 


The United Nations Intergovernmental Panel on Climate Change (IPCC) deals with the scientific assessment of climate change. This considers cryptocurrencies as one of the technologies that could have a higher energy requirement.


According to a report Monday , the IPCC said cryptocurrencies could be a "significant global source" of carbon emissions as part of the infrastructure around data centers and information technology systems related to blockchain. The group said estimated CO2 emissions between 2010 and 2019 indicate there is a 50 percent chance of capping the 1.5°C increase in the Earth's average temperature, given the remaining 2020 carbon budget.


"The energy demand of cryptocurrencies is also a growing concern. However, there is currently significant uncertainty regarding the energy consumption of the blockchain infrastructure behind it," the report states. "While it is clear that the energy demand of bitcoin mining has increased significantly worldwide since 2017, there are very different estimates for 2020 (between 47 TWh and 125 TWh) in the current literature due to data gaps and different modeling approaches."


In addition to crypto and blockchain, the IPCC also included the energy requirements for artificial intelligence. However, the group noted that all technologies have potential for emissions reductions and emissions increases depending on how they are managed:


"Major improvements in information storage, processing and communication, as well as artificial intelligence, will affect emissions. They can improve energy-efficient control, reduce transaction costs for energy production and distribution, and improve demand management. It can also improve the need for reduce physical transport.


The IPCC has previously published two reports to advocate halving global emissions by 2030. This is intended to minimize the environmental impact of climate change. Most experts agree that impacts could include rising sea levels and an increase in extreme weather events. This is a challenge for people who live close to the coast and for food production.


“In the scenarios we assessed, global greenhouse gas emissions would need to peak no later than 2025 and be reduced by 43 percent by 2030 if we aim to limit warming to about 1.5°C. At the same time, methane would also need to be reduced by about a third become," according to the IPCC. "Even if we manage to do that, it's almost inevitable that we'll temporarily exceed that temperature threshold. But by the end of the century, we could fall back below that."

Many regulators, legislators and even celebrities have set crypto and blockchain targets as the effects of climate change become more visible around the world and emission reductions become more urgent. However, CoinShares reported in January that the Bitcoin ( BTC ) mining network accounted for just 0.08 percent of global carbon emissions in 2021. This corresponds to 49,360 megatons.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

The 5 largest platforms for non-fungible token (NFT) collectibles

  Since the beginning of 2021, non-fungible tokens (NFT) have had no holding back and the sector is setting new records almost every day.  More and more artists, stars and brands are realizing the potential - NFT are well on their way to catapulting the crypto space into the mainstream.  But which collectibles are currently the most popular? What are NFT? NFT are unique tokens that cannot be exchanged one-for-one for an equivalent token.  Any asset that is tokenizable can be an NFT.  This includes, for example, (digital) works of art, trading cards, game items and crypto domains.  Theoretically, however, real estate or securities can also be mapped as NFT. NFTs can be used to transparently map ownership structures on a public blockchain.  This allows them to store value just like real objects, even if additional copies are easy to make.  For example, the original picture of the Mona Lisa is significantly more valuable than a photo, as everyone kno...
11 comments
Read more

CARDALONIA: THE CARDANO METAVERSE OPENS THE GATES!

  Have you ever been to Cardalonia? With these words, the Cardano Metaverse called Cardalonia starts the gates. In this 3D world, developers and users can interact with each other. First of all, users have to create an individual character with which they can move online. After that you can enter one of the worlds built by developers with this character. You can also purchase your own land in the Cardano Metaverse via the marketplaces in Cardalonia . This is secured by Cardano's blockchain technology and therefore offers a relatively secure transfer of ownership. Since these are only digital plots of land, it is not yet entirely clear when the plots of land are purchased whether they can also be sold again in the future. A possible profit cannot be estimated at the moment. In Cardalonia, the cryptocurrency Lonia is used. The maximum amount of tokens in circulation is 100,000,000. The team consists of Alice Sand (Co-Founder), Vasil Air (CTO) and Dustan Water (Fullstack Developer). T...
Post a Comment
Read more

Cardano: This is the vision that founder Charles Hoskinson has

  The Altcoin Cardano has tended to decline in recent weeks.  The Alonzo upgrade was supposed to bring improvements, but it soon turned out to be a disappointment.  Cardano founder Charles Hoskinson presented his vision for the cyber motto in a live Twitter video. • Cardano in the last few months under pressure • Charles Hoskinson explains his Cardano vision via Twitter • Security and privacy at the center The cryptocurrency  Cardano  has had a difficult few months.  While founder Charles Hoskinson's cyber motto has had a strong run in 2021, it has been steadily downhill in recent months.  Cardano is faced with some difficulties.  The so-called Alonzo upgrade went live in mid-September, for which crypto fans had high hopes, but which soon turned out to be a disappointment.  The upgrade should make it possible to use smart contracts on the cryptocurrency as well.  It soon turned out, however, that although these were entered into Cardano,...
Post a Comment
Read more