Could the Cryptocurrency Market Go Fully Green?

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Abstract
The introduction of cryptocurrencies also has an impact on carbon emissions. The study aimed to highlight the causes and effects of crypto mining and the potential solutions to the consequences. It begins with a historical overview of the innovation and introduction of mining machines. As more miners were introduced, further developments also impacted society. After understanding the history, the study evaluated the impact of cryptocurrency mining on carbon emissions. The report cited several studies that are related to cryptocurrency and mining. The causes were also analyzed, highlighting the numerous mining innovations. The study also examined the complexities and possible solutions to the challenges. Through the study, it was established that cryptocurrency mining also contributes to carbon emissions. The leading explanation is to advocate for green crypto, where the mining utilizes less power and has low carbon emissions. The goal is to embrace eco-friendly cryptocurrencies and ensure that activities are not harmful to the environment.
Keywords: cryptocurrency, eco-friendly, innovation, environmental pollution, green crypto
Could the Cryptocurrency Market Go Fully Green?
Various and extreme attempts have been made to help make the world a better place for a livelihood by incorporating environment-friendly practices. The quest has seen its failures, especially regarding the air and noise pollution, which has affected nature by a significant margin. The inclusion of mining has generally brought another challenge and a problem in making and creating a green globe. The introduction of cryptocurrencies like bitcoin has dramatically led to a further menace in reducing the carbon level in the air. The celebrated bitcoin mining has significantly led to an additional challenge that has made the world a stiff place to live. Due to the high level of carbon emission in the mining of the cryptocurrency, the high-power consumption has led to an increased level of carbon composition, which shortly may turn out to be a global challenge if not looked into. Therefore, this study aims to highlight the cause and effect of crypto mining and the possible solution that can be attained.
History
The world of innovation can be traced back to the 18th century, when the first mining machine was introduced and applied to the mine (Miraz 156). The move of having miners was welcomed, and it made room for further development of various miners. Due to the high consumption of power and the carbon emission from the miners, an alert arose on the possibility of destroying the ozone layer (Miraz 156). Though brought forth remarkable development, the innovation was seen to affect human living and animals drastically. The carbon emitted led to rising sea waves, extreme heat, and a high melting rate of polar ice (Kelly). To this effect, several activists rose to prevent further mining, and some mining that emitted very harmful gases was done away with, but it was hard to make a complete extinction of the mining activities due to the innovation they came along with (Spohn 150). A continuous engagement in the mining activities has one to high-tech innovation and the introduction of crypto mining which sadly f...