ETHEREUM IS DITCHING ITS ‘MINERS.’ WHY?
AppleMagazine|September 23, 2022
A complex software change to the cryptocurrency ethereum holds the potential to dramatically reduce its energy consumption — and resulting climate-related pollution. But the transition known as “the merge” is not going to do the trick by itself.
ETHEREUM IS DITCHING ITS ‘MINERS.’ WHY?

With the change enacted, ethereum — the world’s second most valuable cryptocurrency after bitcoin — has effectively eliminated the energy-intensive task of “mining” new coins on its blockchain. Mining requires enormous computing power, which translates to huge energy consumption and, in many areas, greater greenhouse gas emissions at older power plants.

By itself, however, the ethereum change won’t eliminate crypto’s expected environmental impact, although it’s expected to help a great deal. The backers of bitcoin have so far shown little interest in doing away with mining.

BACK UP A SECOND. WHAT IS CRYPTOCURRENCY?

Cryptocurrency is a type of digital money secured via encryption in a publicly viewable and purportedly unalterable way. Using these currencies, people can make direct financial transactions without any need for a bank or other financial intermediaries.

They run on constructs called blockchains, which consist of digitally signed transaction records that document every time a crypto coin is transferred or spent. Blockchains are also known as distributed ledgers because synchronized copies are stored on computers around the world; these copies also make it extremely difficult to alter, insert or destroy blockchain records.

IS CRYPTO BAD FOR THE ENVIRONMENT?

Denne historien er fra September 23, 2022-utgaven av AppleMagazine.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra September 23, 2022-utgaven av AppleMagazine.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA APPLEMAGAZINESe alt
AMAZON REPORTS BOOST IN QUARTERLY PROFITS.EXCEEDS REVENUE ESTIMATES AS IT INVESTS IN AI
AppleMagazine

AMAZON REPORTS BOOST IN QUARTERLY PROFITS.EXCEEDS REVENUE ESTIMATES AS IT INVESTS IN AI

Amazon reported a boost in its quarterly profits and exceeded revenue estimates, sending the company’s stock up in after-hours trading.

time-read
3 mins  |
November 08, 2024
SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS
AppleMagazine

SOUTH KOREA FINES META $15 MILLION FOR ILLEGALLY COLLECTING INFORMATION ON FACEBOOK USERS

South Korea’s privacy watchdog this week fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers.

time-read
2 mins  |
AppleMagazine #680
CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS
AppleMagazine

CHINESE ONLINE RETAILER TEMU FACES EUROPEAN UNION INVESTIGATION INTO ROGUE TRADERS AND ILLEGAL GOODS

Chinese online retailer Temu is facing a European Union investigation over suspicions it’s failing to prevent the sale of illegal products, the 27-nation bloc’s executive arm said.

time-read
2 mins  |
AppleMagazine #680
CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS
AppleMagazine

CORNING FACES EU ANTITRUST SCRUTINY OVER GORILLA GLASS DEALS WITH PHONE MAKERS

Corning is facing European Union antitrust scrutiny after the bloc’s watchdog said this week it’s investigating the speciality glass maker’s exclusive deals for its Gorilla Glass used in cellphones.

time-read
1 min  |
AppleMagazine #680
NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT
AppleMagazine

NEW CEO AT CVS BEGINS TO BUILD HIS TEAM WITH A GOAL OF REVIVING THE STRUGGLING HEALTH CARE GIANT

CVS Health fell short on third-quarter profit, but it posted strong sales and the health care giant shook up leadership under new CEO David Joyner after a rough year that has sent shares plunging.

time-read
2 mins  |
AppleMagazine #680
AS THE DATA CENTER INDUSTRY BOOMS. AN ENGLISH VILLAGE BECOMES A BATTLEGROUND
AppleMagazine

AS THE DATA CENTER INDUSTRY BOOMS. AN ENGLISH VILLAGE BECOMES A BATTLEGROUND

Originally built to store crops from peasant farmers, the Tithe Barn on the edge of the English village of Abbots Langley was converted into homes that preserve its centuries of history.

time-read
4 mins  |
AppleMagazine #680
YOU MAY HAVE BLOCKED SOMEONE ON X BUT NOW THEY CAN SEE YOUR PUBLIC POSTS ANYWAY
AppleMagazine

YOU MAY HAVE BLOCKED SOMEONE ON X BUT NOW THEY CAN SEE YOUR PUBLIC POSTS ANYWAY

Elon Musk’s X has been modified so that accounts you’ve blocked on the social media platform can still see your public posts.

time-read
1 min  |
AppleMagazine #680
NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE
AppleMagazine

NINTENDO REPORTS LOWER PROFITS AS DEMAND DROPS FOR ITS AGING SWITCH CONSOLE

Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale.

time-read
1 min  |
AppleMagazine #680
THE BEST SMALL SUVS FOR CITY DRIVING
AppleMagazine

THE BEST SMALL SUVS FOR CITY DRIVING

SUVs are popular in part due to their elevated ride height, commanding view of the road, and roomy interiors.

time-read
3 mins  |
AppleMagazine #680
MANY RETAILERS OFFER 'RETURNLESS REFUNDS.' JUST DON'T EXPECT THEM TO TALK MUCH ABOUT IT
AppleMagazine

MANY RETAILERS OFFER 'RETURNLESS REFUNDS.' JUST DON'T EXPECT THEM TO TALK MUCH ABOUT IT

It’s one of the most under-publicized policies of some of the biggest U.S. retailers: sometimes they give customers full refunds and let them keep unwanted items too.

time-read
5 mins  |
AppleMagazine #680