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Bitcoin and non-fungible tokens (NFTs) are the digital equivalents of cash and collectibles. Their value has recently risen dramatically, but the electricity needed to mine them is more than is used by entire countries and results in huge volumes of carbon emissions. At a time when many countries are targeting zero emissions, bitcoin and NFTs represent a real threat to the environment.
What’s Bitcoin?
Bitcoin is a cryptocurrency, a decentralized digital currency that bypasses a central bank, and can be sent from user to user on the peer-to-peer bitcoin network. Transactions are evidenced through cryptography and documented in a publicly distributed ledger called a blockchain.