Environmental impact of ByeleX Data Solutions NV (Byecoin) activities
Our organization plays a facilitating role in the adoption of blockchain technology by offering Bitcoin and Ethereum via a network of ATMs and iDEAL payments. We have no activities that directly contribute to the energy-intensive process of mining or maintaining consensus on a blockchain network.
Energy consumption of our infrastructure
- Bitcoin Node: We run one Bitcoin Node on a dedicated server. This server has an energy consumption of less than 1 kW, which is comparable to a standard home server. Running a node is crucial for validating transactions and maintaining the integrity of the network, but contributes minimally to the total energy consumption of the Bitcoin blockchain.
- Other infrastructure: Our ATMs and processing of iDEAL transactions use standardized, energy-efficient IT systems. The energy consumption of these systems is limited and comparable to that of regular financial transactions. Comparison with Blockchain Consensus Mechanisms.
Comparison with blockchain consensus mechanisms
Unlike miners or validator node operators in Ethereum’s Proof of Stake network, we have no direct role in the energy-intensive consensus mechanism of these blockchains. This means that our activities have no significant impact on the environmental footprint of Bitcoin or Ethereum.
Conclusion
Our environmental impact is minimal. With energy consumption comparable to that of a small server environment, we do not contribute substantially to the CO₂ emissions associated with blockchain technology. We remain committed to responsible and transparent business practices, and will regularly evaluate our processes to pursue further sustainability.
