A significant issue that continues to dog the crypto industry is the claim that mining new currencies such as Bitcoin is terrible for the environment and a contributing factor in climate change. To help alleviate some of those concerns, Protocol Labs, the company behind Filecoin, announced today that it has joined the Crypto Climate Accord.
According to a 2021 report by Digiconomist, the amount of energy used to mine Bitcoin rivals the amount needed to power the entire country of Poland for a year. The watchdog group also claims that combined, Bitcoin and Ethereum mining consumes more energy annually than Iran, South Africa, and Australia.
Protocol Labs, launched in 2014 as an open-source resource and development lab, says it is committed to driving the development of Web3 initiatives toward net-zero emissions.
“Numerous projects in the ecosystem are already seeking to address the environmental impact of the blockchain space,” said Protocol Labs’ Angie Maguire in a statement. “We a
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