How Do NFTs Affect The Environment?

Understanding how NFTs work

To understand why NFTs in their current form are not exactly green, we must first understand how the technology works.

Mining and greenhouse gases

This is due to the fact that blockchains such as Ethereum continue to rely on what is known as a proof-of-work consensus protocol.

How much energy do NFTs use?

It is difficult to estimate how much energy NFTs consume and how they affect the environment. The space is only a few years old, and no true scientific study has been conducted to assess its impact.

Proof-of-stake blockchains

While there has been pressure on miners to ensure that their energy supply is as environmentally friendly as possible, most believe that the issue is best resolved by switching to a different consensus protocol.

Layer-2 solutions

Another way to reduce the environmental impact of NFTs is to round up transactions and only interact with the blockchain on a regular basis.

PulseChain the Energy-Efficient Blockchain

PulseChain has the potential to rescue dapps that are suffering from high fees.

PulseChain is a new blockchain-based cryptocurrency ecosystem that claims to be energy-efficient to Ethereum. Furthermore, the PulseChain platform launch is said to be the largest airdrop, or initial distribution, in blockchain history.

PulseChain the Ethereum Hard-Fork

PulseChain, as previously stated, will be a hard fork of the Ethereum blockchain. As a result, it will replicate all existing ERC-20 tokens and NFTs to PulseChain. Users will effectively receive a copy of all their current assets on PulseChain, and these tokens will be available to those who do not invest in PulseChain. Importantly, PulseChain’s native token and all coins on it are designed to begin with no value in order to avoid benefiting from the efforts of others.

PulseChain will revitalise Dapps

The ability of PulseChain to take decentralised applications (dapps) that are currently suffering from fees on Ethereum and revive them is a key factor that will underpin the future success of PulseChain.

In Summary

It is clear that NFTs are more than a passing fad and are here to stay. And there are numerous reasons for this. They’re a great source of income, open up new opportunities for digital artists, create a new gateway for developers to create and innovate using the technology. Now that you understand the fundamentals, you can delve deeper and reap all of the benefits for yourself.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
PulseVerse.io

PulseVerse.io

Create, sell and collect amazing NFTs on PulseVerse, a decentralised NFT marketplace to be built on PulseChain.