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KPOP SECRET MEME PART 603

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da not all crypto involves mining, which is the part that has excessively high energy consumption. all crypto works on the basis of a blockchain system, which in simple terms is a digital security feature for data.

bitcoin, the og crypto, is a data "block" that required high computing to decrypt, consequently generating a new block for the next person to solve. miners run these computations to unlock the data block, which then creates the next "block", turning it into a chain - hence the name. the difference now is that the new data block is no longer locked, and whoever solved the first block in the chain will have their digital signature in there permanently.

the reason crypto is hated on is bc each "round" of coin generation doubles or triples the difficulty of solving the first block. if the 1st round of coins take x amount of computing power, then the next squares x, then squares x-squared, and so on. escalating computing + each consecutive round halves the coin/token output.

this is overly simplified but basically many cryptos use this method and it's causing a shitton of energy pollution, but not all crypto necessarily has to follow it.

right i thought that was the point of proof-of-stake versus proof-of-work in that it directs the value away from high-resource mining but as long as an nft is based on a POW currency and purchased using one it's contributing to mining, right? from what i though the nft itself barely uses any resources since there's only one and it's purchased using crypto, its the mining of the currency used that is a problem

yeah the nft itself isn't the problem, it's whatever system is supporting the crypto that can purchase it, which... is about 80% of the legit ones lmao

china of all places has wholesale banned crypto mining though, which has driven mining rings towards the US for cheaper infra so we'll see where this is headed 💀

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