As with any new and dramatic development, it doesn’t take long for someone to point out the feet of clay in the emerging phenomenon. In the case of Bitcoin, the main complaint has been the significant energy use that is required by the currency due to the “proof of work” ecosystem on which it is based.
The word “complaint” doesn’t convey the degree to which such criticisms scare away ethically concerned investors. And since ethics of various kinds are a big part of most crypto enthusiasts’ mindset, it’s a serious issue for both the crypto community and the world of investors at large.
To address the issue in a serious way, crypto planners and programmers have turned to proof of stake, which uses a miniscule fraction of energy in comparison with the Bitcoin ecosystem.
Ethereum, one of the major cryptocurrencies, is planning a conversion to proof of stake.
On the other hand, some commentators note that Proof of Stake is less secure than Proof of Work, which for them may mean viewing the energy cost as a positive feature rather than a drawback.
In any case, many new crypto currencies have greener and more sustainable DNA.