Lately, there’s been a lot more debate about cryptocurrency and how much energy it uses to be produced. Bitcoin, in particular, uses as much energy per year as the Netherlands, its carbon footprint is estimated to be the size of Singapore’s and it generates as much electronic waste as the country of Luxembourg. All these estimates come from the Bitcoin Energy Consumption Index at Digiconomist. “Marketplace Tech” host Molly Wood speaks with Alex de Vries, the founder of Digiconomist, who says Bitcoin mining involves running millions of computations in kind of a coin-producing lottery, but some cryptocurrencies, like Ethereum, can be created in a less energy-intensive way.
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