The head of the cryptocurrency company Ripple Brad Garlinghouse again criticized cryptocurrencies; skeptical remarks this time concerned assets that outperform XRP tokens issued by his firm.
Garlinghouse recalled a study recently published by Telegraph, according to which one BTC transaction consumes more energy than one British home ownership in two months. Also, experts wrote then that mining bitcoin provokes negative environmental emissions along with the whole of New Zealand. Garlinghouse also noted excessive wastefulness caused by energy consumption in mining BTC and ETH. The carbon footprint left by the networks is in no way commented on by the organizations behind Bitcoin and Ethereum, they are not responsible for the threat to the environment. The global climate crisis may be triggered by mining, the expert concludes.
Criticism of Ethereum in this regard is not entirely appropriate – the energy consumption of ETH is estimated at one tenth of the average of the leading cryptocurrency.
The negative impact of the crypto industry on the climate is still not quite clear. Proponents of digital assets insist that mining energy comes from renewable sources (in 77% of cases, according to CoinShares).
In Ripple, the consensus algorithm is designed to ensure minimal energy consumption, so the claims of the head of the company are understandable. However, XRP, according to experts, has another big minus – excessive centralization.