February 2022,
A new study links the damage caused by proof-of-work blockchain to climate change and human mortality, showing that some types of blockchain result in significantly higher levels of carbon emissions resulting from verifying transactions. The study highlights how the commercialization of NFTs (non-fungible tokens) in digital art is increasing the levels of emissions causing climate change and causing future unnecessary human deaths. The study examines the recent policy interventions designed to motivate a shift in blockchain consensus protocols and promote miners’ energy efficiency to mitigate environmental damage.