Skip to main content

3 "green", environmentally friendly cryptocurrencies that are a very good alternative to Bitcoin

 


Why is bitcoin considered environmentally harmful?

Bitcoin has been using the proof-of-work consensus mechanism since its inception . The Bitcoin miners validate the transactions in the network. The Bitcoin mining process requires a lot of electricity. The entire Bitcoin network is now more energy-intensive than many countries.


Bitcoin

Due to the high energy consumption, Bitcoin has repeatedly come under criticism in recent years. In the past, most of the mining was done in China, where the generation of energy was primarily based on environmentally harmful coal-fired power plants. However, in recent years, the possibilities of generating electricity for mining have become much more efficient and sustainable.

Environmentally friendly cryptocurrencies should primarily function much more energy-efficiently. Greater efficiency means less energy is used in transactions on the networks. An efficient network is also more sustainable and therefore "greener" in the long term. 


Most "green" cryptocurrencies use modifications of the proof-of-stake consensus mechanism . This is considered to be much more efficient and modern than Proof-of-Work. The following cryptocurrencies use some form of proof-of-stake.


1. Cardano (ADA)

Cardano has long been considered the ideal blockchain for people who prefer “green” cryptocurrencies. The protocol offers the most important features of the Ethereum network - smart contracts, NFTs, DeFi protocols and other decentralized applications. But Ethereum only switched to Proof-of-Stake weeks ago.


Cardano News

Cardano is considered the most technically mature blockchain on the market and is very efficient. Many environmental organizations have praised Cardano for its sustainable operation in the past. Among the “green” cryptocurrencies mentioned, Cardano is probably the protocol that could most likely replace Ethereum at the top in the future.


2. Algorand (SOMETHING)

Algorand is a blockchain protocol that has been considered particularly environmentally friendly since its introduction. Its eco-friendly blockchain has been the main argument in the past to attract investors and new users. The Algorand blockchain continues to be considered the first carbon negative blockchain.


Algorand

In addition to its energy efficiency, Algorand is also actively doing something for the environment by investing part of its transaction fees in CO₂ credits. Smart contracts are also used to offset its CO₂ emissions. 


3. Tezos (XTZ)

Tezos is another of the "green" cryptocurrencies and impresses with its sustainability. It is a smart contract platform that does not require hard forks. Tezos uses a modification of Proof-of-Stake, the Liquid Proof-of-Stake. 

In 2021, Tezos partnered with the University of Cambridge to develop a decentralized carbon credit marketplace . This should support reforestation projects. Furthermore, Tezos continues to try to improve its energy efficiency in the future. 


Should you invest in these cryptocurrencies?

If the topic of sustainability and environmental friendliness is important to you, then you can definitely purchase these "green" cryptocurrencies. All of these projects are very likely to have an excellent future. Therefore, you can take the risk of buying these cryptocurrencies at cheap prices in the bear market right now.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

British financial regulator criticizes cooperation between Binance and Paysafe

  The British financial regulator FCA has expressed concerns about the partnership between market-leading crypto exchange Binance and payment service provider Paysafe. As the British regulator complains, the partnership gives Binance access to the influential British payment network Faster Payments Service (FPS), from which the crypto exchange was previously cut off. Last June, the FCA ordered Binance to stop all business activities in Great Britain. As a result, prominent banks such as Barclays have terminated their cooperation with the leading crypto trading platform . Through the cooperation with Paysafe, Binance can now again offer deposits in British pounds sterling and transactions within the European Payments Area (SEPA). However, this fact is a thorn in the side of the FCA, as it classifies the crypto exchange as a “considerable risk factor”. However, the financial regulator sees little room for maneuver to counteract this, as the Financial Times reports . “ Paysafe understands
Post a Comment
Read more