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Does Cryptocurrency Mining Pose A Dreadful Threat To The Environment? Its Adverse Effects And Solutions

Cryptocurrency mining is the procedure of bringing cryptically locked coins into a transaction. The mining process involves unravelling complicated proof of work algorithms with the help of computers – CPUs (Central Process Unit), GPU’s (Graphics Process Unit) and ASIC (Application Specific Integrated Circuit).

Published

2 years ago

October 18, 2021

Deep Gautam

Once an alien concept for most of us, cryptocurrencies and cryptocurrency mining have gained a lot of interest worldwide. No one could ever have imagined in the worst dream that a virtual currency would become as precious as gold and diamonds are. A few virtual currencies, specifically called cryptocurrencies, like Bitcoin and Ethereum, are valued much more than a real Dollar, let alone Indian Rupee.

Right from the origination of the first cryptocurrency in 2009 called bitcoin, people remained unenlightened to the concept of cryptocurrency and blockchain until recently. The uninitiated people were living with the deception that bitcoin is a cryptocurrency, and cryptocurrency is bitcoin.

The skyrocketing values of bitcoin and other cryptocurrencies made people aware of their existence. Over time, people have traded and invested in these virtual currencies so heavily that cryptocurrencies have become a $2.2 trillion industry as of April 2021. There are no less than 10 thousand cryptocurrencies available for trading in the market at present.

These cryptocurrencies have not yet been widely recognized as a mode of payment. However, on the internet, some websites accept cryptocurrencies as a payment option. Moreover, cryptocurrencies have been considered as trading commodities with only upward demand since the last few years. Thus, the prolific demand for cryptocurrencies has created profitable opportunities in the mining sector.

What is cryptocurrency mining?

The unorganized pools of cryptocurrencies can only be excavated by combining the computing power of several computers. Such incorporated computers relentlessly work together to solve complex algorithms and create new coins.

A miner has to lend his computing power for the cryptocurrency mining process. As compensation, the miner receives a part of the mined cryptocurrencies, which he later can trade or convert into real money.

Why has mining energy consumption become a matter of concern?

The increasing prices of cryptocurrencies are giving more monetary benefits to the miners for the excavating coins. Thus, tides of more and more people are joining the cryptocurrency mining network. The mining process consumes enormous electricity yielded from coal and other fossil fuels. As cryptocurrency prices go up, the complexity of algorithms increases which ultimately require more computing power to break them down. With the additional computing power, more electricity is also consumed.

Another concern related to cryptocurrency mining profitability and the complexity of algorithms as prices surge is that the mining infrastructure will require more computing power and electricity. Still, the number of transactions will remain the same.

BBC published the energy consumption statistics of Bitcoin in 2021 to put the actual energy consumption required in cryptocurrency mining before people. According to the BBC’s report, bitcoin eats up 121 Terawatt-hours of electricity every year, which is more than the energy requirements of the whole of Argentina throughout the year. One more research conducted by Digiconomist shows Ethereum engulfs as much electricity as Qatar.

What’s followed by the enormous electricity consumption?

Most of the electricity generated throughout the world comes from burning coal and other fossil fuels. The governments of most countries have been advocating and experimenting the renewable energy sources, but electricity production through such sources has been insignificant. Hence, we have no option left other than burning coal for energy production.

It is needless to mention that fossil fuels are the limited source of energy or producing energy. The extreme energy consumption by mining plants is putting the limited stock of none renewable sources at stake. Other than that, mining processes also increase carbon dioxide emission caused due to the excessive burning of coal. Cryptocurrencies and their mining are unnecessary concepts for most environmentalists.

A CNBC report states the mining process of Bitcoin alone emanates more than 35.95 million tons of carbon dioxide every year, which is equal to the emission level of New Zealand.

Cryptocurrency mining also produces electronic waste at a massive level. The components used in mining machines run 24X7 hours leading to expedited ageing. The worn-off parts become trash as they can’t be used elsewhere. The bitcoin mining infrastructure alone produces more than 12,000 tons of e-waste annually.

Can the mining be turned into green infrastructure?

The existing mining infrastructure undoubtedly feeds on tremendous electricity. Along with that, the mining process is vehemently burning out fossil fuels and causing excessive carbon dioxide emissions. The alternative solution to mitigate the adverse environmental impact could be the application of renewable energy, which seems far from reality and expensive to install.

Given the sumptuousness of renewable solutions, ordinary miners excavating coins with the help of a limited number of rigs installed in the home can’t shift to renewable sources so quickly. Availability of copious space is also the requirement for installing renewable energy plants. However, a holistic approach towards reducing the threats posed to the environment can let the mining plants thrive on any nation’s soil. If otherwise, cryptocurrency mining seems to have a cloudy future.

What cryptocurrency mining proponents have to defend?

In an interview with forks.news, Stefan Rust, the founder of Sonic Capital, says we have compounded suspicion and scepticism around bitcoins and the energy it is eating up. At the same time, we have more significant problems to fight with.

Alex Tapscott, MD of Ninepoint, says a few of the fears huddling around Bitcoin’s carbon footprint are misleading.

Related Topics:bitcoin Business cryptocurrency mining mining Tech technology

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Deep Gautam

Deep Gautam is an Editor at Tech Heralds.

Gadgets

Realme Reveals Realme S100 Smartwatch And N100 Earbuds In India, Check Out Price And Specifications

Realme TechLife Watch S100 wristwatch and the Realme TechLife Buds N100 wireless headphones have been launched in India. Because both of the brand’s wearable items are priced at INR 3,000, they are pretty affordable for customers.

Published

1 year ago

March 10, 2022

Deep Gautam

In celebration of its Realme 9 SE smartphone launch, Realme India had a press conference today. On the other hand, the event itself was not the primary focus of attention. At the same event, which took place today, Realme India announced the launch of two new wearable devices from the mobile manufacturer for the Indian market.

As part of the company’s TechLife brand, the Realme TechLife Watch S100 wristwatch and the Realme TechLife Buds N100 wireless headphones have been launched in India. Because both of the brand’s wearable items are priced at INR 3,000, they are pretty affordable for customers.

The TechLife Watch S100 wristwatch’s design includes a water-resistant frame and a colour display. Battery life is 12 days on a single charge, and the S100 smartwatch may be recharged many times. Anyone interested in acquiring a new watch from the Realme brand will find this to be an excellent cost-effective solution. Colour options available for the watch include blue, green and black.

Also Read: Redmi Note 11 Pro+ And Note 11 Pro Launched In India, See Specifications And Pricing

The TechLife Buds N100 are a pair of Bluetooth headphones in the manner of a neckband with an in-line microphone and a battery life of up to 17 hours. It should be noted that this is a very reasonable choice for individuals who like to buy Bluetooth headphones from the company’s range of goods again.

Realme S100 Smartwatch Specifications

The watch is easily understandable with a 1.69-inch display with a resolution of 280×240 pixels and a maximum brightness of 530 nits. The screen’s touch sensitivity is supported by an operating system that can be manually upgraded using the company’s official app, which is available for Android 5.0 and above or iOS 11 and higher.

The watch is powered by a Qualcomm Snapdragon 430 processor and has three-axis accelerometers to track physical activity. The Snapdragon 430 chip enables the gadget to track steps, calculate calories burnt, estimate distance travelled, monitor sleep quality, and measure heart rate, among other functions. With a Bluetooth v5.1 connection and 24 sports modes. The Realme S100 smartwatch may be used for various activities such as dance, bicycling, running, and other sports, among other things.

Internally, the watch is powered by a single battery, a 260mAh unit capable of supporting all of its functions. According to the maker, it has a battery life of up to 12 days on a single charge and may be used for several purposes.

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The IP68 certification for water resistance is standard with the watch. In conjunction with its smartphone companion app (available for Android 5.0 or iOS 11), customers may make use of a variety of extra functionalities.

Realme N100 Earbuds Specifications

The Realme TechLife Buds N100 are a set of Bluetooth earphones with a neckband design that is ideal for wearing around the neck. Among other things, it includes an IPX4 water resistance certification and Bluetooth v5.2 compatibility. It is packed with dynamic bass drivers with a 9.2mm diameter and housed in aluminium sound chambers, which provide a robust bass response.

Also, as an additional advantage, using the magnetic Bluetooth Connection feature on the earphones, you may quickly and conveniently disconnect them by just joining them together.

According to the business, depending on the model, the earbuds may give users up to 17 hours of music listening time on a single charge.

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Realme S100 Smartwatch And N100 Earbuds Price In India

The Realme TechLife Watch S100 is priced at Rs 2,499, but it will be available for an introductory price of Rs 1,999 for the first few months after it is released, making it a good deal for anyone looking to save money. The Realme TechLife Buds N100 are available for purchase for Rs 1,299. Both devices are available in two colour options: black and grey, both standard.

According to an earlier statement from Realme, both devices will be available for purchase on March 14th and 15th, respectively, on Flipkart, Realme.com, and a limited number of physical outlets.

Gadgets

Redmi Note 11 Pro+ And Note 11 Pro Launched In India, See Specifications And Pricing

Published

1 year ago

March 9, 2022

Deep Gautam

Xiaomi has officially launched the Redmi Note 11 Pro and Redmi Note 11 Pro+ in India, just as the company had promised. The Redmi Note 11, the Note 11S, and the Note 11T, all of which were just released in India. The Redmi Note 11 Pro series adheres to the Redmi Note’s philosophy of offering high-end specifications at a low price. There are various fascinating features available on the two new phones, including 108MP cameras, 67W fast charging, a 120Hz display, and more. Here’s a closer look at the specifics.

The Redmi Note 11 Pro+ Specifications

The Qualcomm Snapdragon 695 chipset powers the Redmi Note 11 Pro+ and its siblings. The phone also has a 6.67-inch 1080p S-AMOLED display with HDR10 support and a 120Hz refresh rate. With this screen, you can play games and watch movies on your phone in 1080p resolution. The upcoming smartphone supports up to 8GB of RAM, up to 3GB of virtual RAM, 256GB of storage and a dedicated MicroSD card slot expandable up to 1TB.

In terms of camera performance, the Redmi Note 11 Pro+ considers itself one of its unique selling points. With a quad rear camera system comprising of a 108MP primary sensor coupled with an 8MP ultra-wide lens and two 2MP sensors for macro photography and depth awareness, it can capture high-resolution images. A 16MP selfie camera with a punch-hole display is located on the front of the device. The device also has Portrait mode, Night mode 2.0, Pro time-lapse, and many other features that make it ideal for photography enthusiasts.

Also Read: Leaks Reveal iPad Air 5 Will Boast The Powerful M1 Chipset, 128GB ROM And 8GB RAM

The phone has a 5,000mAh battery and can quickly charge at 67W. It is powered by MIUI 13, based on the Android 11 operating system. This device is shipped with an integrated 67-watt charger, which may be found in the box. Other features include dual stereo speakers, LiquidCool technology, a side-mounted fingerprint reader, Face Unlock, Z-axis Linear Motor Haptics, IP53 water and dust resistance, an infrared blaster, and a 3.5mm audio connector.

Redmi Note 11 Pro Specifications

The phone features a 6.67-inch Super AMOLED display with a refresh rate of 120H and rapid charging capabilities with 67W Turbo Charge and 108MP quad rear cameras. The front-facing camera is identical to that of the Note 11 Pro+.

The Redmi Note 11 Pro only supports a 4G connection, which is significantly different from previous models. In addition, it is powered by a new chipset, the MediaTek Helio G96, than the previous model. It features a top of 8GB of RAM and an internal storage capacity of 128GB. Additional features include dual stereo speakers, LiquidCool technology, an infrared blaster, a 3.5mm audio input, and IP53 splash protection, among other things.

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Redmi Note 11 Lineup Price In India

The Xiaomi Redmi Note 11 Pro+ is available for purchase now, beginning at Rs 20,999, while the Redmi Note 11 Pro will be available starting on March 23. The devices may be purchased via Amazon India and Mi.com, and offline retail shops.

The Xiaomi Redmi Note 11 Pro+ comes in three variants: 6GB+128GB (Rs 20,999), 8GB+128GB (Rs 22,999), and 8GB+256GB (Rs 24,999). It is worth mentioning here that HDFC Bank has offered a cash discount of Rs 1,000 on the purchase of Xiaomi Redmi Note 11 Pro+

Also Read: OnePlus 10 Leaked Picture Floats On Internet, Some Other Features Revealed Too

The Xiaomi Redmi Note 11 Pro also comes in two variants: 6GB+128GB (Rs 17,999) and 8GB+128GB (Rs 19,999).

Apart from purchasing the new phones at their usual prices, customers interested in buying either phone may exchange their previous Redmi Note smartphones for either phone, earning them an additional Rs 2,000 in royalty payments.

Gadgets

Leaks Reveal iPad Air 5 Will Boast The Powerful M1 Chipset, 128GB ROM And 8GB RAM

The iPad Air 5 also features a slim and light design that Apple claims “delivers an experience unlike any other when combined with the Liquid Retina display and landscape stereo speakers.”

Published

1 year ago

March 8, 2022

Deep Gautam

Apple is finally upgrading the iPad Air 4 with a new model that’s been a long time coming. The iPad Air 5 is here, and it’s powered by the A15 Bionic chip and Apple’s M1 chip, which are also included in the more costly iPad Pro line. The iPad Air 5 has an updated design, including a larger screen with slimmer bezels and unique colors and finishes. The tablet’s software has been updated to match its upgraded hardware, including a new Touch ID system built into the power button and an improved camera on the front of the device.

The iPad Air 5 is powered by Apple’s latest A15 Bionic processor and supports 5G networks. It means that the tablet can connect to the fastest available cellular networks, which is ideal for using data-intensive apps wherever you go. It also has a 10.9-inch Retina display with True Tone technology, adjusting the color temperature based on ambient lighting conditions.

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The iPad Air 5 and the iPad Air 4 have almost the same design. Along with that, the iPad Air 5 has retained a 10.9-inch Liquid Retina display with 3.8 million pixels and 500 nits of brightness from its predecessor. You’ll find other similarities between the two devices, such as True Tone technology, anti-reflective screen coating, and broad color range support for P3.

The iPad Air 5 also features a slim and light design that Apple claims “delivers an experience unlike any other when combined with the Liquid Retina display and landscape stereo speakers.” It may be accessed using a Touch ID sensor, integrated into the top button like the previous Generation. The tablet has several upgrades over the previous model, including M1 processor performance and 5G connectivity, both of which users have been anticipating for some time now. According to Apple, their newest tablet can achieve peak rates of up to 3.5Gbps under optimal conditions. eSIM and WiFi 6 capabilities are also included as extras in this package.

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The iPad Air 5 Specifications

The iPad Air 5’s most noticeable external change is the USB-C connector. This is identical to the port on the previous model, but it is now up to two times faster, allowing for data transfer speeds of up to 10Gbps. Moreover, a wide range of USB-C accessories, such as cameras, external storage, and displays with resolutions of up to 6K, can be connected to the iPad Air 5 through the port.

Other than that, the optics have also seen some improvements. The number of sensors on the back and front is still the same as before, but it now supports Center Stage technology. The 12MP ultrawide with Center Stage technology on the front of the camera intelligently detects your movement and keeps them in view as you move. If more participants join a video discussion, the camera recognizes this and seamlessly zooms out to accommodate them in the conversational space. In addition to recording 4K video and a 12-megapixel sensor, the iPad Air 5’s rear sensor can also scan documents and create AR-related content.

Also Read: Reliance Extends The Availability Of The Jio Phone Next To Offline Market, Check Price And Specifications

The tablet will be available in various colors, including pink, purple, and blue, in addition to space grey and starlight. There are a variety of accessories that can be purchased separately for $129, including the Apple Pencil 2nd Generation, which is compatible with the device. There will be more than 30 languages supported by the Magic Keyboard when it launches in black or white for $299. In addition to being available in several areas, there is also the Smart Keyboard Folio for $179 and a more basic Smart Folio for $79 that comes in a variety of colours such as white, electric orange, dark cherry, English lavender, and sea blue.

The iPad Air 5 Price

Apple revealed the iPad Air 5 will be available for pre-order on Friday, March 11. The iPad Air 5 is an excellent choice for college students, instructors, staff, and homeschool teachers of all grade levels. The 64GB WiFi-only model will retail for $549, while WiFi + Cellular models will begin at $749 in the United States. The iPad Air 5 comes with two new accessories: the Smart Keyboard Folio and the Magic Keyboard. The Smart Keyboard Folio can be had for $159, while the Magic Keyboard is available for $279. For drawing/writing tasks, Apple also released a second-generation Apple Pencil, available for $119.