Mozilla Stops Accepting Cryptocurrency, Wikipedia May Be Next

Brandon Vigliarolo, writing for TechRepublic:

The original tweet from Mozilla mentioned three forms of cryptocurrency: the two main players, Bitcoin and Ethereum, and Dogecoin , all three of which use a system called proof of work (PoW) in order to add an entry to their respective blockchains. It’s here we find the first big sticking point: what Zawinski describes as “planet-incinerating” levels of energy use.

The proof of work problem has been known for a while, as has the ever-increasing carbon footprint of the Bitcoin and Ethereum blockchain, the cause of which is the growing energy needs of their PoW networks.

As of this writing, a single transaction on the Bitcoin blockchain eats up the same amount of energy as the average US household in a 77.8-day, or roughly two and a half month, period. Ethereum, though nowhere near as large, still eats up the same amount of energy that a US household does in 8 days.

Such numbers seem too bad to be true, but take a look.

Do your research.”

Tuesday, 18 January 2022