Ethereum crypto minting, trading environmental damage
Released: July 2015
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Launched in 2015, Ethereum is an open-source, decentralised blockchain which hosts its native cryptocurrency Ether, as well as third-party decentralised applications, including non-fungible tokens (NFTs) and ERC-20 tokens.
Ethereum 1.0 launched using a proof-of-work cryptographic verification system that attracted considerable criticism for its huge energy demands.
Specific areas of concern about Ethereum 1.0 included:
Carbon emissions
Air pollution
Water pollution
Noise pollution
Electronic waste
In September 2022, Ethereum transitioned to a proof-of-stake system, cutting its energy use by an estimated 99.95%.
System
Ethereum. The Merge
Ethereum. Ethereum's energy expenditure
Research, advocacy
Neumueller A. (2023). Blockchain sustainability beyond Bitcoin: Ethereum under the microscope
de Vries A. (2022). Cryptocurrencies on the road to sustainability: Ethereum paving the way for Bitcoin
CCRI (2022). The Merge Implications on the Electricity Consumption and Carbon Footprint of the Ethereum Network (pdf)
Truby J. et al (2022). Blockchain, climate damage, and death: Policy interventions to reduce the carbon emissions, mortality, and net-zero implications of non-fungible tokens and Bitcoin
White House Office of Science and Technology Policy (2022). CLIMATE AND ENERGY IMPLICATIONS OF CRYPTO-ASSETS IN THE UNITED STATES (pdf)
Investigations, assessments, audits
News, commentary, analysis
Page info
Type: Issue
Published: September 2023