Die New Yorker Finanzaufsicht, die für ihre Strenge berüchtigt ist, behauptet, die erste Regulierungsbehörde im Land zu sein, die derartige Anforderungen stellt.
IMF report calls for eco-friendly design choices in the crypto ecosystem
In a study titled “Digital Currencies and Energy Consumption”, the International Monetary Fund evaluated the impact of design elements of crypto assets on their energy consumption in order to develop an ideal framework for a mainstream central bank digital currency (CBDC).
The report brings to light the significance of making the right design choices on the overall environment-friendliness of the crypto ecosystem and its ability to go mainstream.
With the intention of facilitating further policy discussion on the current impact of crypto on green consumption, IMF recommends against the use of proof-of-work-based distributed ledger technology applications.
Highlighting Bitcoin’s energy consumption of about 144TWh per year, the report pointed out that while scalability solutions reduce the energy cost per transaction, they do not affect the overall energy spending.
The organisation also recognised the potential and energy efficiency of non-PoW, permissioned crypto assets:
“The potential of non-PoW permissioned crypto assets to reduce energy consumption relative to the existing payment system comes about from energy savings on both core processing architectures and user payment means.”
With the increasing interest of countries in developing their very own digital currencies, the IMF advised central banks to design CBDCs with the explicit goal of being environmentally friendly. This, according to the report includes but is not limited to selecting platforms, hardware and design options that come with a lower carbon footprint that the mechanisms traditionally being used by the central bank.
The report added that the green component of implementing the CBDC must be looked into right from the experimentation phase itself. The IMF also recommended that central banks integrate compliance, higher resilience, offline capabilities and other such features during the development of CBDC.
Policymakers will weigh the environmental impact of cryptocurrencies and CBDCs and their underlying technology while considering their utility for mainstream adoption, the report concluded.
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Highlights June 9: Solana reverses losses, Chainlink continues to surge
Top 10 cryptos were flat, registering gains and losses of less than 1%. In the top 100, most fluctuated by 1-3% in value.
Top cryptos
Bitcoin was trading above $30,000 at time of writing, relatively flat over the past 24 hours. Cardano registered negligible gains. Solana is the big winner in the top 10, gradually reversing losses, up almost 5% today.
Cryptos outside the top 10 demonstrated the same tendency and were almost flat. Polygon and UNUS SED LEO each gained around 2%.
Top movers
Chainlink continues yesterday’s surge, adding another 8% to its value. Tezos gained 10%, Helium 9%, and OMG Network 7%.
One possible reason for Tezos’ growth is the announcement that the We Are Developers World Congress Berlin 2022, powered by Tezos, is starting on June 14.
Gala shed around 3% as the Galaverse event nears its end. Fantom, ApeCoin, eCash, and Klaytn are also down around 3% each.
Two days ago, a suspected exploit shut down Elrond’s Maiar DEX, resulting in loss of funds. Despite putting a recovery plan in place, Elrond lost 6% of its value today.
Trending
The biggest winner today is BurnToEarn, a Web3 app and platform on Binance Smart Chain. It is a health-oriented platform, where you can monetize your exercise regime. The BTE token has gained 877% today.
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Trotz Bärenmarkt: Hedgefonds begrüßen Krypto zunehmend
Traditionelle Hedgefonds sind zwar weiter vorsichtig im Hinblick auf Krypto-Investitionen, aber Kryptowährungen wie Bitcoin und Ether werden für sie immer interessanter.
Bitcoin (BTC) steckt fest: Bären mit 32.000 US-Dollar als Widerstand zufrieden
Der regulatorische Druck und die makroökonomische Unsicherheit schlagen sich weiter auf die Stimmung der Trader nieder und der BTC-Kurs verbleibt weiter unter 32.000 US-Dollar.