Is NFT secure? 5 technology issues in nature and climate | a planet

NFTs are adapting digital graphics, but what few people know about them is the impact these devices have on the environment. Like all electronic devices that require constant access to the Internet and energy, these Non-Fungible Tokens also release carbon dioxide and carbon monoxide into the environment. The acceleration of ocean acidification and the recurrence of global warming are some of the problems that the energy consumption of these technologies has in nature.

Mining cryptocurrencies (a figure used in the buying and selling of NFTs) such as Ethereum and Bitcoin per year could have higher annual electricity consumption than in smaller countries such as Argentina, research suggests by the University of Cambridge published in 2021 To better understand how these devices affect the environment, here are five issues with non-fungible tokens in nature and weather.

What is NFT? How Token technology works

NFTs have changed the world of digital display, but they can have a devastating effect on the environment – Image: Getty Images

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1. Release more carbon into the environment

All electrical equipment that requires constant access to the Internet and light releases carbon into the environment. This is because global electricity generation still relies on renewable sources such as coal and natural gas. With NFTs, this is no different. In order for mine cryptocurrencies to participate in the trading of these tokens, it is necessary to keep computers and technology in place at all times.

To give you an idea, Ethereum, the main utility used by the NFT content of the sale, can use up to 48 kilowatt-hours per operation. This is equivalent to a monthly consumption of 30 minutes a day of bathing with about 3500W of power – a cost that, when determined by the cryptocurrency market, makes more than a thousand transactions a day, can be concerned.

In general, in order to store the cryptocurrency (and NFTs) market, there must be multiple devices in constant connectivity. The more servers that are connected to a bad power line, the greater the damage it causes to the environment. As we consider the global use of cryptocurrencies, which have increased, this expands further to the total CO2 emissions in the world.

Mining NFT releases large amounts of carbon monoxide into the atmosphere – Image: Share / Pexels

2. It includes favorable rates

More than ever before, some countries – such as Brazil, for example – have a large portion of their energy matrix made up of aquatic plants. This mode converts the existing energy in the current flow into kinetic energy, which is caused by the force of motion. This movement of water moves the hydroelectric turbines – which then energize the generator to produce light.

The problem with this power generation is the movement of the turbines heats the water, and this causes part of it to evaporate. In addition, it also causes hot water to be dumped into the ocean, which removes people near the coast, and also causes problems with fauna and flora near rivers.

Cryptocurrencies and NFTs enter this account when, by requesting a large network of computers using energy generated by hydroelectric plants, this movement directly promotes water evaporation. That is because servers need more energy, which is more needed by the plants that generate them.

3. Acceleration of ocean acidification

The pH is measured from one to 14 used to determine whether the product has acidic markings or not. Numbers lower than seven are considered acidic, while numbers above are considered simple. The process of ocean acidification occurs clearly when the ocean begins to exhibit acidic properties – that is, the pH level begins to drop.

The problem is that this acidification is not caused by nature. It started with the revolution of the industry, when the industry started to emit pollutants into space. This is the case with carbon emissions from internet connections connected to disconnected electrical equipment, e.g.

Today, cryptocurrency mining promotes a drop in pH in H2O molecules due to the energy used to connect computer systems, mostly by pollution. The carbon emissions from the mining into the air, which dissolve in the ocean, react with water, and then lower the pH level until it becomes acidic. This acidity can remove the animals and plants of the environment most affected by it, affecting, in the chain, the entire ecosystem of the earth.

4. Increased electricity consumption

Cryptocurrency mining, used in the NFT industry, is being implemented to gain momentum. This is because his work makes him more stressed, demanding more and more energy from the machines involved.

Mining means registration of Blockchain, a technology that serves as a “book” of information on the financial markets of cryptocurrencies. These changes, in the past, have resulted in competition, which is nothing more than mathematical problems. The solution of this problem is done by computer. So, the more powerful your machine is, the easier it is to solve these problems – and the more mining it produces the same way.

Only after resolving the proof of operation is it possible to make the data of the block visible to the blockchain. When this registration occurred, the miner was paid for the work. The problem lies in the complexity of these problems, which increase when they are solved. The harder it is to write rhyming words, the more time and energy (and thus more energy) is required by the computer.

NFTs apply for cryptocurrencies, which, in the past, were created by competition with increasing difficulty – Image: Share / Unsplash

5. Global warming could rise further

Global warming is an environmental phenomenon that is caused by an increase in the average temperature of the Earth’s surface. In general, it occurs naturally, but there are some human-induced processes that exacerbate this process – such as, for example, the release of pollutants into space.

Along with carbon emissions from mining cryptocurrencies, oil rises from the atmosphere and contributes to the greenhouse effect – which, in addition to contributing to global warming, also contributes to acidification of the oceans. . The CO2 emissions released into the atmosphere directly contribute to the warming of global warming, making the average global temperature faster.

These processes, when done incorrectly, have implications for the global ecosystem. It can produce not only fire, but also melting of polar ice caps, land desertification, and sea level rise, which affects animal and plant life and other living systems.

Is there a way for NFTs to be secure?

High energy efficiency is a good option to reduce the impact of NFT mining – Image: Share / Pexels

Although companies involved in experimental options – such as Ethereum 2.0, for example – to date there is no real and effective way to reduce and / or eliminate the damage of cryptocurrency mining. However, it can take some options that can help reduce the problems caused by this technology.

The most common and far from every country is the special tax on electricity consumption in mining. Thus, national electricity companies are required to announce additional tax rates for investors who have large computers for the mining industry. Thus, with the high cost of using electricity for this particular purpose, the number of mining farms can fall.

Another option is to invest in secure altcoins – that is, cryptocurrencies that use renewable energy, such as solar and wind. Some examples of this are Litecoin, Dogecoin and Solarcoin. There are also other digital benefits that, although they do not use renewable energy as space, provide less environmentally friendly competition, such as Ethereum.

This line is part of the #UmSóPlaneta initiative, an organization of 19 brands from Editora Globo, Edições Globo Condé Nast and CBN. Find project here 👈

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