The Rise of Cryptocurrency and How it Pollutes
By Kiran Bishop, Sidwell Friends School, and Kit Levy, Sidwell Friends School
The recent rise in popularity of cryptocurrencies like Bitcoin and Ethereum begs the question: “How environmentally friendly are cryptocurrencies really?” To understand their impact on the environment, one must first understand what a cryptocurrency is and the nuances between the different tokens and coins.
Cryptocurrencies are a form of payment that can be used online to buy goods or services. They are set by cryptography, which is the writing and solving of complex codes or algorithms. This process allows cryptocurrencies to address the “double spending problem” -- the concern that the same crypto token could be used multiple times. To ensure that this reuse does not occur, cryptoc...