Ethereum

  1. Tech

The scoop: The sustainability of Web 3 ties closely to the real world. A large portion of our world depends on energy also needed to run the web.

There are some outside factors you may not be aware of that can drastically change how Web 3 influences sustainability around the world (not just on the web).

Key points:

  • Only about 12% of the energy in the US comes from renewables right now. This needs to change in order to provide a more sustainable energy source for Web 3 applications.
  • Web 3 applications can offset its energy consumption by making other aspects of our economy more sustainable.
  • It’s still early. We are likely to see unexpected solutions come from unexpected areas. Buckle up for the ride. 

What’s next? Rather than trying to predict the future, spot trends that influence the sustainability of Web 3 to better gauge its progress.

Dig deeper → 5 min

  1. Business
Busy? Try the speed read.

The scoop: NFTs went mainstream. Now more people are starting to realize Ethereum has a sustainable energy problem. There is a solution.

Not all blockchains are the same: Bitcoin uses about 1% of the world’s electricity. Ethereum is the second largest coin and runs on a similar model as Bitcoin. Neither are energy efficient.

Still, blockchain technology as a whole operates under many different consensus algorithms. Bitcoin and Ethereum’s proof-of-work model is just one version.

Sustainable proposals: Convert mining facilities to use more renewable forms of energy. That’s a good place to start.

More effectively, big coins like Bitcoin and Ethereum can operate using a proof-of-stake model to be more sustainable. This would allow fewer nodes (computers) to validate transactions on the public ledger and increase the energy efficiency of their blockchains.

Finally, emerging coins should look to more efficient consensus algos like Ripple as a model for sustainable crypto. That would propel the industry forward.

Bottom line: Progress is happening. There are existing solutions. The blockchain industry just needs a little nudge to do better.

Dig deeper → 3 min

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