Green blockchain technology for an eco-friendly environment

Abstract

As blockchain technology continues its disruptive influence across various sectors, its environmental implications have raised concerns about long-term viability and global repercussions. This chapter explores the concept of "green blockchain" as a framework for sustainable alternatives. It delves into the transition to energy-efficient consensus mechanisms like proof of stake. The chapter also addresses the regulatory landscape, ethical considerations, and future prospects, including the integration of artificial intelligence to optimize blockchain processes. Despite the potential benefits, challenges such as regulatory uncertainty, scalability concerns, and privacy risks underscore the industry's need to navigate carefully and strike a balance between innovation and environmental responsibility. The chapter advocates for a collective effort to build a culture of sustainability within the blockchain community and highlights successful community-led initiatives and regulatory frameworks as crucial elements in mitigating the environmental impact of blockchain technology. � 2024, IGI Global. All rights reserved.