[2018-03-01] Ironically, Blockchain Could Save Bitcoin’s Environmental Downfalls

[martychubbs]

It is safe to say that while blockchain technology hasn’t been around for long in comparison to other revolutionary technical ideas, its effect is being felt in every industry in some way or the other. For the masses, bitcoin, by far, remains the most popular term associated with the innovation, while Ethereum comes a clear second in that order. A Google trends chart comparing these three search keywords for the past 12 months shows that the results aren’t surprising, as bitcoin outshines the other two.

Popularity Comes at a Cost, Especially in Iceland
However, there have been specific issues presented by environmentalists who believe that bitcoin, or any cryptocurrency mining, is harming the environment. They argue that the processors required to keep these participating nodes running in the network, specifically for mining purposes, are drawing from huge amounts of electrical power and making worse the problem of climate change.

full text and source :
https://btcmanager.com/ironically-blockchain-save-bitcoins-environmental-downfalls/

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[jseverson]

It's a very interesting concept, but it sounds like a long shot to me. Sure, the blockchain has plenty of interesting properties, but I don't believe this is where the problem lies:

It ultimately means turning our trust towards a few lines of code rather than a committee of authorities.

I mean, the authorities are going to be the ones giving out the incentives, so it's not like the blockchain can take them out of the picture. It would be awesome if it worked, though, because it seems to be a basic incentive system which can be applied to a wide variety of stuff.