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NFT is harmful to the health of the planet - DNOTICIAS.PT

NFT is harmful to the health of the planet – DNOTICIAS.PT

One of the challenges of the digital world is file scarcity. From the moment the file is located on the network, it can be duplicated over and over. And those who spread quickly, and who may have more value for this very reason, are at risk due to the endless copies and the consequent lack of scarcity.

This is why NFT (a non-exchangeable code), a kind of certificate of authenticity of a specific file, gains space in a world increasingly confused with the default.

  • A non-exchangeable good has unique properties and cannot be substituted for anything else. NFT is the digital certificate of that authenticity proving that the specified file is original. Unlike, for example, cash that is exchangeable and exchangeable: a 20 euro note is the same as a 10 euro note.

It began to be applied to art pieces, after painters and other artists obtained a patent for their works with NFT, giving them originality and property and allowing some of them to be sold in large quantities (from digital currencies). NFT extended to music, newspaper articles, memes, tweets, and even sports – yes, there are players selling ball passes, dips, moments (that’s right, Moments), and even professional tracks. Everything is in the digital world of course. Like Eder, the Portuguese national team player, who made the shoe with which he scored the winning goal against France at Euro 2016, at NFT.

If, on the one hand, NFT is good news for artists, writers, and other authors who can, using this technology, use the network as a display of their work, while protecting – or at least ensuring its authenticity – for another it is an environmental burden on the planet and does not contribute to combating climate change .

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How do we explain HereAnd the NFTs are computer codes that guarantee the authenticity and ownership of the file. They are digital assets that are recorded, through “blockchain” technology, as unique, non-replicable and with a list of transactions that can be tracked from the source. It is negotiable based on the notion that it is impossible to hack or copy.

The blockchain, in turn, is a decentralized database of thousands of computers. It is a list of transaction logs, arranged by the blocks associated with the encryption (a type of secret write). When an action is recorded, the information cannot be changed. It allows for security in transactions, elimination of mediation and, hopefully, more transparency

The disadvantage is the energy consumed by this technology, as the transaction logging is the result of the collective effort of thousands of computers connected to the network – machines that consume a lot of energy.

Recording a just 13-second video on the blockchain, for example, could have an environmental footprint similar to that of a 420-kilometer car trip, according to Acten note, A digital artist who launched a website that calculates energy expenditures for NFT, specifically to alert you to the weight the technology has on the health of the planet.

Incidentally, the founder of Tesla and Space X, Elon Musk, announced deals with Bitcoin, one of the most successful cryptocurrencies, causing its value to rise on the exchange. But after a few weeks, he took a step back and stopped accepting bitcoins to pay for his electric cars.

The president of the Madeira Economists Syndicate, Paolo Pereira, recalls the story: “The excuse is that you cannot live well with the fact that Bitcoin consumes a lot of energy. Bitcoin is implemented on the basis of a ‘blockchain’, which consumes a lot of energy. A large part of it is in China, and therefore it is an enemy of the environment. Since he sells environmentally friendly Teslas, he accepts a currency which, according to him, is an enemy of the environment … “.

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But it is clear that it is not so linear. Paulo Pereira assesses: “It reveals several things: Hypocrisy because a Tesla car traveling in China and shipped in China will also get electricity from coal and it is exactly the same. Elon Musk cannot get 1.5 billion Tesla shareholders, buy Bitcoins, and after three Months, he discovered that it works on electricity? Since he is not stupid, the question that remains is what is the “secret” agenda. He does not discuss football and does not give a point without a knot in principle. These statements he makes have effects. reason “.

When he announced that buying Tesla with Bitcoin, after all, was no longer permitted, Musk stressed, however, that “cryptocurrencies are a good idea on many levels” and that he believes they “will have a promising future”. However, “it cannot be done at great cost to the environment.”

The fact is that after talking to Paulo Pereira, Elon Musk began to spread news about this story. On Monday, the businessman wrote on Twitter that he had spoken to bitcoin miners in North America and that they are committed to making the digital currency more sustainable. The tweet was enough to launch the cryptocurrency again, after its downfall when Musk announced that he would no longer accept payments in digital currency.

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Keep waiting for the next seasons.

Meanwhile, Elon Musk’s death was remembered on Saturday Night Live this month, when the founder of Tesla Motors said he believed in a sustainable future and revealed that he suffers from Asperger’s syndrome.