Green blockchains

Blockchain technology has altered businesses by delivering decentralised, secure and transparent transaction and data management solutions. However, high energy usage of proof of work (PoW) networks, such as the Bitcoin blockchain, is one of technology's biggest environmental issues. PoW requires considerable processing power and emits a vast amount of carbon. As climate change worries increase, the blockchain community is pushing for more energy-efficient consensus processes to lessen blockchain technology's environmental impact. Hence, there is a growing shift toward energy-efficient blockchain consensus mechanisms. Bitcoin and other early blockchains employed proof of work where miners compete to solve complicated cryptographic challenges, but this method consumes a considerable amount of computer power and energy. Bitcoin uses more electricity than Poland as powerful computers and miners battle to crack complex crypto graphic algorithms to be the first to earn cryptocurrencies as …