No. Crypto mining and NFTs are NOT killing our planet: an analysis

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September 12, 2021 new story

Non-fungible tokens are the next big thing in asset ownership, but the internet is vocal about its negative impacts on the environment. NFTs work on the same technology as Bitcoin and other cryptocurrencies. The Bitcoin and Ethereum blockchains have adopted the energy-intensive proof of work consensus mechanism to power their nodes. The former requires powerful computers to guess a long string of random numbers to unlock digital codes and verify transactions. If your computer does it first, you are rewarded with cryptocurrency.

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