CEO Ripple condemns Bitcoin and Ethereum for green mining



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CEO Ripple condemns Bitcoin and Ethereum for green mining

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Bitcoin and Ethereum have been harshly criticized by Ripple CEO Brad Garlinghouse, who condemned the high energy costs of mining these cryptocurrencies.

Energy consumption for BTC and ETH mining is a massive waste and there’s no incentive to take responsibility for the carbon footprint. Absolutely 🤯 that this isn’t high on the agenda for the growing climate crisis

“The energy consumption of mining Bitcoin and Ethereum is a huge waste. There is absolutely no incentive to make them responsible for their carbon footprint. It is incomprehensible to the mind why this issue is not yet at the head of the agenda for the global climate crisis, ”he wrote.

Garlinghouse’s tweet was in response to a recent study by PWC blockchain expert Alex de Fries that Bitcoin’s annual energy consumption (77.78 terawatt hours) exceeds that of the entire state of Chile, and that one BTC transaction emits more carbon dioxide than 780,650 transactions per Visa payment network.

Ethereum, whose production barely exceeds 8 terawatt-hours per year, is not mentioned in the source material, and apparently fell under the spell of criticism of SEO Ripple for the company.

It is logical to assume that in this way Brad Garlinghouse advertises its own cryptocurrency XRP, issued by pre-mine. However, it is this aspect that is cited as one of the proofs of the centralization of the Ripple network.

Earlier, Brad Garlinghouse admitted that the sale of XRP digital coins form a significant share of the fintech company’s profits.

CEO Ripple condemns Bitcoin and Ethereum for green mining



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