Cryptocurrencies have an image problem. And their reputation for driving reckless speculation and requiring immense energy output is richly deserved. Many of those on the market today were literally created as jokes. And others, like Bitcoin, consume as much energy as a nation. Indeed, if Bitcoin were a country, it would be among the top 30 energy users in the world, nestled between Norway and Argentina.
But the environmental hazards of Bitcoin and the irresponsible hyping of so-called meme coins such as Dogecoin by celebrities like Elon Musk belie a broader trend in the ongoing development of cryptocurrency.
