TipRanks
2022-08-17 17:43:17

Newer Blockchains are Overcoming Energy Consumption Limitations of Earlier Models

As a frontrunner on the list of pivotal technological disruptors of the 21st century, blockchain is busily remodeling many entrenched businesses and industries by advancing decentralization and introducing intermediary-free applications. Over time, blockchains have evolved tremendously, addressing many of the drawbacks and overcoming the limitations posed by earlier models, especially concerning energy consumption. While cryptocurrency does have an environmental impact, not every cryptocurrency or underlying blockchain has the same carbon footprint. As new advancements are made across the blockchain ecosystem, several promising solutions have emerged to tackle environmental concerns raised by critics, each achieving varying degrees of success.

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