If we recall the first time blockchains and digital currencies were disregarded was for their frequent and enormous power consumption. These discharges were overshooting consumption of nations including countries like Ukraine, Netherlands, Italy, Argentina, and UAE. There are reports that alarmed forces about Bitcoin mining in China, which was professed to consume more energy than that of 181 nations by 2024. All this raises a concern about sustainability related to the new technology.
The decentralized Web is an emerging technology and because of its widespread concerns, solutions seem to be falling in place. In a matter of 1-2 years, we are finally witnessing projects that are working toward building a sustainable exosystem to contain the environmental hazard.
Decentralization eliminates intermediaries, manual mediation, and arbitration, and because of this, it avoids power centralization and also reduces cost. It reinforces reliability and transparency and ensures the highest level of governance with data security and privacy.
As we knock our way into Web 3.0, decentralization is the only option that can convey sustainable results, as it will be completely controlled via distributed ledgers and smart contracts.
With decentralized storage solutions like Point Network users now have the ownership of their data. At the present time when data security is becoming a myth with sustainable decentralized storage hubs, proper data security and privacy can be offered, that too at a very large scale. As tech giants exploit user data to grow the business it is very important to have user protection, this ecosystem gives users the authority over their information.
All these features make the adoption of decentralized solutions popular among users who believe it to be the future of the internet.