AI Predicts China Will Ban High-Energy Blockchains
China, known for its significant share of the global cryptocurrency mining industry, has been grappling with the environmental ramifications of its burgeoning blockchain sector.
With concerns over carbon emissions and energy consumption on the rise, regulatory bodies are under pressure to address these issues.
In a bid to understand the future landscape of this burgeoning sector, we consulted three leading AI platforms—ChatGPT, Google Gemini, and Microsoft Copilot—to predict the fate of eco-friendly digital currencies, often termed “green cryptocurrencies.”
The focus on sustainability has prompted governments worldwide to scrutinize the environmental impact of cryptocurrencies.
Forthcoming regulations are expected to center on reducing the energy consumption of these technologies, with potential restrictions placed on high-energy blockchains.
Green cryptocurrencies are those that utilize blockchain technology to ensure a significantly reduced carbon footprint.
This is primarily achieved through the Proof of Stake (PoS) consensus mechanism, which requires far less energy than the traditional Proof of Work (PoW) system used by platforms like Bitcoin.
Examples of green cryptocurrencies include Cardano , Algorand, and Tezos, which promise a more sustainable approach to digital transactions and asset management.
Bitcoin, the first and most famous cryptocurrency, faces increasing scrutiny due to its significant energy demands and consequent carbon emissions.
A single Bitcoin transaction consumes over 705 kWh of electricity, according to Digiconomist . This is enough to power an average U.S. household for about 60 days.
A single bitcoin transaction consumes more electricity than a US household in a month. A query
Read more on cryptonews.com
