Article Details
  • Published Online:
    December  2023
  • Product Name:
    The IUP Journal of Financial Risk Management
  • Product Type:
    Article
  • Product Code:
    IJFRM031223
  • Author Name:
    Sandeep Bhattacharjee
  • Availability:
    YES
  • Subject/Domain:
    Finance
  • Download Format:
    PDF
  • Pages:
    16
Green Blockchain Initiatives for SustainableCryptocurrencies: An Overview
Abstract

Due to its promise of transparency, security, and decentralization, blockchain technology has seenextensive adoption across a wide range of businesses. However, the energy-intensive nature of typicalblockchain networks, especially those based on proof of work (PoW) consensus algorithms, createsserious environmental issues. This paper reviews the developing notion of “green blockchain”, withemphasis on cryptocurrencies, concentrating on the principles, technology, projects, and issuesconnected with establishing environmental-friendly and sustainable decentralized systems. The paperseeks to add to the discussion on sustainable blockchain development by assessing the existingenvironment and future potential.

Introduction

Blockchain technology, which was first presented as the underpinning technology forcryptocurrencies, has expanded into a disruptive force with applications in banking, supply chain, healthcare, and other fields