by 
The Curious Bag
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<h4 class="dechead">On One Hand: Adverse Effects
Hydrogen peroxide, a bleaching agent, does have adverse effects on hair follicles. As it is applied to hair, it builds up in the strands over time, eventually causing the hair to stop producing melanin, the body's coloring agent. The body makes its own hydrogen peroxide, a process that speeds up as we age--the main cause of "going gray."
On the Other: Can Be Used Safely
Though it bleaches and dries out the hair, hydrogen peroxide does not "kill" hair follicles per se. In fact, it's an ingredient in most hair dyes in small amounts. It's used to weaken the hair shaft, making it more penetrable to coloring agents. There is no evidence that coloring your hair will make it go gray faster or earlier in life.
Bottom Line
Be aware of the chemicals you're using on your hair, and take extra caution when using a homemade/DIY hair-lightening product. Dilute any peroxide used; the solution should be no more than 3 to 5 percent pure hydrogen peroxide.
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