Ethereum Drops Out of Top 3 Most Polluting Cryptos in 2022
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Loading... - Benacerral Ikram
- 07 Feb 2023
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Cryptocurrency popularity continues to grow despite 2022 having been a rough year following the highs of 2021. However, not all this attention is good – their environmental impact has seen them come under scrutiny. Unveiling if this is justified or not, ForexSuggest has looked at the impact of different cryptos on the planet.
As of September 2022, there are thought to be over 12,000 cryptocurrencies in circulation, including popular favourites Bitcoin, Ethereum and Litecoin. However, the process of mining cryptos can be detrimental to the planet. Cryptos polluting nature requires a large amount of energy, something often not welcomed in a world which is currently highly conscious of the effects of climate change.
An increasing number of people are becoming more aware of the global impact of crypto trading, including business tycoon Elon Musk, who announced in May 2021 that his company Tesla would no longer accept Bitcoin as payment, due to its high emissions. Crypto has also been completely banned in a number of countries, such as China, Egypt and Morocco, with partial bans also in place in countries such as the Maldives, Vietnam, and Libya.
Most polluting cryptos
Forexsuggest took a look at some of the world’s most popular cryptocurrencies to see how much CO2 they produce per transaction. Each cryptocurrency used a different amount of electricity when processing a transaction and mining new tokens, due to some methods being more complex and energy-intensive than others. Read More…
