Bitcoin mining is a great way to make huge money, especially when considering its value right now. The issue is that it takes a good bit of energy and has environmentalists up in arms. So it’s a good thing that the Bitcoin industry is on the leading edge of reducing its energy consumption.
Of course, at Byte Federal we have already explored how the Bitcoin mining industry is lowering its energy costs. These methods include utilizing solar energy as well as hydro, wind, and even natural gas waste to solve the problem. But its latest innovation is so ingenious that it will revolutionize the industry. It could possibly have a much more significant impact than that.
The Bad Side Of Using Energy
As outlined by the EPA, the bad side of energy consumption is emissions of greenhouse gases and other air pollutants. When a type of fuel is burned to produce energy, there will always be a burn-off of something. Gas in your car, coal in the power plants, and even wood in the fireplace all emit gases and air pollutants, some more harmful than others.
The thing is, the whole world is using energy. So, finding another way is in all of our hands. However, Bitcoin miners are on top of it, heading in a very creative direction.
What’s The Right Direction For Bitcoin Mining?
In February this year, Intel unveiled something rather extraordinary at the International Solid-State Circuits Conference. They created a circuit that uses Ultra Low-Voltage making Bitcoin mining more energy efficient. As a result, that very popular circuit cuts energy consumption considerably.
But that’s just the start. Devs have developed a way to use lasers in the mining computation process. In a Bitcoin Improvement Proposal, lasers would perform what would then be called Optical Proof-of-Work. This shift in algorithm coupled with a circuit that cuts energy cost is an industry going above and beyond to be environmentally friendly.
If other industries started following suit with what the Bitcoin mining industry is doing, this would be a much healthier world. From how it fuels its operations to how computations are processed, each step is becoming more and more efficient. That will have a positive environmental impact that should make everyone stand up and notice.
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