Results 1 to 10 of 287

Hybrid View

  1. #1
    Player
    ItMe's Avatar
    Join Date
    Jun 2020
    Location
    Lumsa Lomsa
    Posts
    4,178
    Character
    Iiiiiiiiiiit's Meeeee
    World
    Sargatanas
    Main Class
    Arcanist Lv 90
    Quote Originally Posted by Ranaku View Post
    And to add the reason WHY people are against it.
    Adding to this, NFT's are also hideously unsustainable and there is no workaround for that.


    HOW
    When you buy an NFT of, say, a shirt, you’re not actually buying the shirt.
    You're buying a unique token that acts as a certificate saying you own the shirt, and the certificate is locked away on an immutable distributed database known as a blockchain.
    The blockchain is basically a digital ledger contains a record of all transactions, arranged in sequential "blocks." To keep financial records secure, all users have a copy of this ledger to prevent anyone from falsifying records. Then, the system forces users computers to solve complex puzzles. Solving the puzzles is time and energy intensive, but lets users add a new “block” of verified transactions to everyone's copy of this ledger. The user then gets new tokens or transaction fees as a reward. The process is incredibly energy inefficient on purpose.


    EFFECT
    We can only estimate what the carbon footprint looks like, as the process is so decentralized, and concern over NFT's are still new enough that reputable 3rd parties have yet to publish any exhaustive studies on them, but early studies indicate that a single transaction of an NFT can have a carbon footprint starting at the equivalent to between 1 month’s worth of electricity for a person living in the EU.


    CONTEXT
    To try and put some FF14 context to this...
    During the EndWalker media tour, Yoshi said the player base hit 24 million people. If SQEX sold an NFT picture of Y'shtola and 1% of players bought it... that's 240,000 transactions (minimum, this is a digital good designed to be resold) consuming so much electricity it would take over 657 years for 1 person living in the EU to match Y'shtola's carbon footprint... from 1 photo that only 1% of players bought, and assuming that every transaction takes minimum amount of energy NFT's have been estimated to consume.


    Anything that uses the blockchain is hideously unsustainable and should be nipped in the bud as early as possible.
    (13)
    Last edited by ItMe; 01-04-2022 at 12:42 AM.