Here's A Calculator To Calculate The Carbon Footprint of Any Ethereum Wallet Or Smart Contract

Written by jaycen | Published 2021/07/31
Tech Story Tags: ethereum | blockchain | nft | carbon-footprint | carbon-negative-cryptocurrency | non-fungible-tokens | carbon-removal | hackernoon-top-story

TLDR Proof-of-work blockchains have attracted a lot of criticism for their carbon footprint. However, we can already use these networks to erase the entire footprint of a user’s transactions-- or even every smart contract operation executed by an application. A simple calculator has been created to let users and smart contract operators calculate the footprint of an address. It's important to point out that calculating the footprint is mostly philosophical, but methodologies like these are huge milestones towards proactive and actionable measures.via the TL;DR App

Tl;dr: you can go here to use the calculator

Proof-of-work blockchains like Ethereum carry a heavy burden-- they consume massive amounts of energy in order to guarantee the integrity of the network. Such data has recently attracted a lot of criticism for such networks, which in turn is prompting users to question whether participation in such an ecosystem is worth bearing the associated carbon footprint.

However, despite the common narrative that using a blockchain creates irreversible damage to the environment, we can already use these networks to erase the entire footprint of a user’s transactions-- or even every smart contract operation executed by an application.

Building upon the methodology and code written by Kyle McDonald here, I’ve created a simple calculator that will let users and smart contract operators calculate the footprint of an address.

On a final note, it’s important to point out that calculating the footprint of an Ethereum user or smart contract is mostly philosophical. This is because it’s hard to measure any particular participant’s contribution to the footprint of a decentralized network that runs regardless of whether any activity on the network takes place or not.

Nonetheless, methodologies like these are huge milestones towards proactive and actionable measures to erase the footprint of blockchain activity.


Written by jaycen | You can find more of my content at https://jaycen.io
Published by HackerNoon on 2021/07/31