Is Cryptocurrency Bad For The Environment?

An attempt to explain what crypto mining is and its effect on the environment.

Photo by Brian Wangenheim on Unsplash

Ever since cryptocurrencies came around, I never bothered to learn more about the mysterious technology. Considering I decided to specialize in environmental science, the whole concept just went over my head whenever anybody tried to share crypto news with me.

Obviously, I got the currency part and its importance to our future, especially considering that El Salvador became the first country to accept Bitcoin as currency last week.

However, how do cryptocurrencies actually work?

I googled that and here is what I got:

Cryptocurrency is an internet-based medium of exchange which uses crypto-graphical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability.

Block Geeks

The definition was so complicated that I felt even more clueless than before. So, as part of my job and genuine curiosity, I decided to embark on the journey to answer the question of how cryptocurrencies work and whether they are bad for the environment.

I do not claim to be an expert in cryptocurrency, quite the opposite actually. In my defense, I have done an…