The Power in Energy, and How New Technologies Can Shift It

gepubliceerd op by Cointele | gepubliceerd op

The recent U.N. General Assembly on Climate Change broached these topics in detail, looking at how politics, economy and human activity need to change in order to limit the damage being done to the environment.

As technologies continue to evolve sustainability is not always a top priority when it comes to their ongoing development.

For the sake of argument, let's imagine that all this energy is coming from low or zero-emission sources like hydro or nuclear; and yet, the need for so much power still creates other systemic issues that cannot be ignored.

Small miners are often unable to afford the high costs associated with this amount of energy use, not to mention the exorbitant prices of high-end mining rigs capable of running the Bitcoin network, meaning they are priced out of the activity from the get-go.

When speaking about power in the context of technology, literal power in the form of energy is of course paramount.

As discussed in my previous article, blockchain has the potential to give power back to the people.

Proof-of-stake, the preeminent alternative to proof-of-work, solves the energy problem, but creates a new barrier to entry and new sources of centralization.

It's permissionless like PoW but uses only a fraction of the energy needed for such.

Ultimately, by developing technologies in a more sustainable and egalitarian manner, movers in the industry can actively take part in shaping a society where the environment is respected and there is no restriction in the power of access to newer technologies or better models.

By shaping blockchain technology differently, we have the chance to not only build a tech that does not have such a burdensome effect on the environment, but which also gives everyone the power to access it and impact its future, bringing it back to its democratic roots.

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