As the nonfungible tokens craze took off at the start of the year, many climate-conscious artists vocalized their disapproval of Ethereum’s energy consumption. In May, Elon Musk then derailed (BTC), citing the energy consumed by Bitcoin as cause for Tesla (NASDAQ:) to withdraw its plans to accept BTC as payment for its electric cars.
Both of these events have provoked a surge of debate from inside and outside the blockchain community. In particular, the arguments tend to focus on two areas: Bitcoin’s energy consumption and its dependency on climate-damaging fossil fuels versus renewables and, secondly, the benefits of one blockchain platform over another — generally focusing on consensus models and promoting proof-of-stake as the greener option.
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Read More: The focus of the blockchain climate discussion is missing the point