ENVIRONMENTAL IMPACT OF CRYPTOCURRENCY MINING: SUSTAINABILITY CHALLENGES AND SOLUTIONS

Hugo Prasetyo Winotoatmojo, Samuel Yesua Lazuardy, Fabian Arland, Antonius Ary Setyawan
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Abstract

The rapid growth of cryptocurrencies over the past 14 years has led to increased deep-level mining activities. This research aims to explore the environmental impacts resulting from the surge in crypto mining and proposed solutions to mitigate these impacts. Cryptocurrencies, gaining popularity as alternative investments and global payment tools, have significantly boosted crypto mining activities. However, the increasing number of transactions requiring computer validation has resulted in adverse consequences for the environment, particularly in terms of substantial energy consumption. Literature review and systematic analysis were conducted to comprehend the environmental impact of crypto mining, focusing on major cryptocurrencies such as Bitcoin, Ethereum, and others. The analysis highlights that crypto mining, especially Bitcoin, requires a significant amount of electricity, leading to a substantial carbon footprint and broad environmental repercussions. Proposed solutions to address the environmental impact of crypto mining include the use of renewable energy sources such as solar and wind power, enhancing the efficiency of specialized mining devices (ASICs), and exploring more energy-efficient consensus mechanisms like Proof of Stake (PoS) compared to the currently utilized Proof of Work (PoW). Reducing redundancy in blockchain technology has also been identified as a crucial step in minimizing unnecessary energy consumption. However, this research has limitations concerning data consistency, a comprehensive understanding of overall environmental impacts, and continuous technological changes in the crypto world. Therefore, future research should focus on developing more efficient consensus mechanisms, effective policy frameworks and governance, as well as real-world implementation studies to evaluate the sustainability solutions proposed.
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加密货币开采对环境的影响:可持续性挑战与解决方案
过去 14 年来,加密货币的快速发展导致了深层次挖矿活动的增加。本研究旨在探讨加密货币挖矿活动激增对环境造成的影响,并提出减轻这些影响的解决方案。加密货币作为另类投资和全球支付工具越来越受欢迎,极大地推动了加密采矿活动。然而,越来越多的交易需要计算机验证,这对环境造成了不利影响,特别是在大量能源消耗方面。为了解加密货币挖矿对环境的影响,我们进行了文献综述和系统分析,重点关注比特币、以太坊等主要加密货币。分析结果表明,加密货币挖矿(尤其是比特币)需要大量电力,从而产生大量碳足迹和广泛的环境影响。为解决加密货币挖矿对环境的影响而提出的解决方案包括使用太阳能和风能等可再生能源,提高专用挖矿设备(ASIC)的效率,以及探索更节能的共识机制,如权益证明(PoS),而不是目前使用的工作证明(PoW)。减少区块链技术中的冗余也被认为是减少不必要能耗的关键一步。然而,这项研究在数据一致性、全面了解整体环境影响以及加密世界的持续技术变革方面存在局限性。因此,未来的研究应侧重于开发更高效的共识机制、有效的政策框架和治理,以及真实世界的实施研究,以评估所提出的可持续性解决方案。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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IMPLEMENTASI PENGEMBANGAN KURIKULUM MADRASAH DALAM MENINGKATKAN JIWA PENDIDIKAN SERTA HASILNYA: STUDI PADA PONDOK PESANTREN AL MAHSYAR NURUL IMAN, TENGGARONG SEBERANG IMPROVING LEARNING ORGANIZATION AND PRACTICAL COMMUNITY THROUGH KNOWLEDGE MANAGEMENT ENVIRONMENTAL IMPACT OF CRYPTOCURRENCY MINING: SUSTAINABILITY CHALLENGES AND SOLUTIONS MANAJEMEN LEMBAGA PENDIDIKAN AL-QUR’AN KOTA BANJARMASIN DAN SEKITARNYA: STUDI PENGELOLAAN DAN UPAYA PENINGKATAN MUTU LEMBAGA IMPLIKASI KENAIKAN HARGA MINYAK GORENG TERHADAP USAHA MIKRO DI KECAMATAN KALIDONI KOTA PALEMBANG
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