Does Crypto Kill? Relationship between Electricity Consumption Carbon Footprints and Bitcoin Transactions. (arXiv:2206.03227v1 [cs.CY])

Cryptocurrencies are gaining more popularity due to their security, making
counterfeits impossible. However, these digital currencies have been criticized
for creating a large carbon footprint due to their algorithmic complexity and
decentralized system design for proof of work and mining. We hypothesize that
the carbon footprint of cryptocurrency transactions has a higher dependency on
carbon-rich fuel sources than green or renewable fuel sources. We provide a
machine learning framework to model such transactions and correlate them with
the electricity generation …

arxiv bitcoin carbon crypto relationship transactions