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We live in a society that are headed towards a greener and more sustainable future. This demands that development of new technology is in line with this vision of a sustainable society. Blockchain consume enormous amounts of power today, with big miningfarms running continuously to maintain the networks of the various blockchains. In the wake of traditional blockchains, new alternative and innovative technology rises, which focuses on a sustainable solution. One of the most promising projects in the realm of sustainable solutions is IOTA, which I will elaborate on later in the article.
Status Quo — Is blockchains sustainable?
Development of blockchains and the use of blockchaintechnology have had an exponential growth lately. This rapid growth may blind people, so that negative aspects of the technology are neglected or ignored. Did you know that the Bitcoin blockchain, as of today, has a higher power consumption than a selection of 159 countries in the world? According to this estimate composed by Digiconomist [1], the power consumption is equivalent to 0.13% of the total power consumption in the world. To put this into perspective, this would rank Bitcoin, if it were a country, as 61th in a list over countries with the highest power consumption.
