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The article references a fishy source for its claims of the „astonishingly“ high carbon foot print. That web site „cryptoart.wtf“ does not site any source on ho
by G3rn0ti 6y ago
The article references a fishy source for its claims of the „astonishingly“ high carbon foot print. That web site „cryptoart.wtf“ does not site any source on how it derives its carbon foot print numbers.
Probably, they are derived from the claim Bitcoin consumed as much energy as Argentina. First of all, NFTs are minted on the Ethereum blockchain where mining is still much cheaper. Second, energy usage does not simply equate carbon foot print which is a function of geolocation and hardware efficiency.
However, I found a nice peer reviewed article on the estimate of Bitcoin‘s carbon foot print: https://www.sciencedirect.com/science/article/pii/S2542435119302557 https://www.sciencedirect.com/science/article/pii/S254243511...
It’s from 2019 and states that the whole Bitcoin blockchain emits the carbon dioxide equivalent of Kansas City.
I am not aware of similar analysis on Ethereum but I guess one could use the Bitcoin number and scale it down quite a bit.