The flip side of the coin: Exploring the environmental and health impacts of proof-of-work cryptocurrency mining.

ABSTRACT

Blockchain technology, the backbone of cryptocurrency, is under scrutiny due to the environmental and health hazards linked to its energy-consuming Proof-of-Work (PoW) mining process. This review study provides a comprehensive analysis of the global health implications of PoW mining and cryptocurrency, with a focus on environmental sustainability and human health. The research utilized both traditional databases (PubMed and Web of Science) and additional primary sources. The study underscores the high energy consumption and carbon emissions of Bitcoin mining, despite ongoing debates comparing cryptocurrency to conventional finance. The review calls for immediate interventions, including the exploration of renewable energy sources and a transition from PoW to more sustainable consensus mechanisms. A case study on China's carbon policies highlights the necessity for effective regulatory measures. The findings reiterate the environmental and health risks associated with PoW cryptocurrency mining, including its resource-intensive procedures, reliance on non-renewable energy, and emission of air pollutants. The review emphasizes the urgent need for global regulation and a transition to more sustainable consensus mechanisms, such as Proof-of-Stake (PoS), to reduce the industry's impact on climate and human health.