353

In addition to being an investment tool, the fact that they can perform faster and safer transactions is rapidly increasing the popularity of cryptocurrencies. Apart from this adoption observed in the last decade, the astronomical rise of the Bitcoin price received one of the first heavy criticisms by Tesla CEO Elon Musk and his company for its energy-intensive mining. This has led to the introduction of a number of new cryptocurrencies, many of which place sustainability and environmental friendliness at the center of their business strategies. Now, we list 5 of the greenest altcoin projects on the market. They could be the best alternative to Musk’s Bitcoin problem.

Nano (NANO)

Before Tesla suspended Bitcoin transactions due to the environmental pollution of mining, there was an obviously environmentally friendly altcoin project Nano. According to the creators of the project, Nano does not include any mining, minting or printing. This makes the system as energy efficient as possible. Moreover, all operations with Nano can be performed on the side of a standard desktop computer. This makes him a better alternative for Elon Musk.

Algorand (ALGO)

Algorand’s Blockchain uses a PoS concept rather than the PoS concept that powers Bitcoin (BTC). This gives the altcoin project a selection mechanism through “staking” instead of the need for computational power that requires mining. Moreover, it is working with ClimateTrade to set its ambitious goal of making the currency carbon negative. “It doesn’t get any more eco-friendly than this!” can it be said?

The darkest green altcoin project: Cardano (ADA)

After Musk’s Bitcoin bomb, Cardano has built a lasting reputation for more sustainable and environmentally friendly transactions. While this is largely similar to ALGO’s features, it sets it apart from its competitors by having a staggering amount of stakes. By one measure, it could be up to 37,500 times more efficient than the market-leading Bitcoin! Its founder, Charles Hoskinson, claims that the entire network supporting Cardano uses only 6 GWh of power, making it an attractive option for eco-conscious consumers and investors. Let’s continue with the 4th order…

Elrond

Now, if you find the Cardano and Bitcoin comparisons fruitful, I suggest you take a look at Elrond’s claims. According to its founders, the technology behind the project is “6. 24 million times more efficient. Despite these impressive stats, it can still handle an incredible 15,000 transactions per second. This kind of efficiency and processing power marks Elrond as a crypto interface built for the current climate, but not contributing to climate change.

CHIA

The last-ranked CHIA entered the market as an effective solution to the problems around it, while enjoying its first year in February of this year. It was invented by Bram Cohen, the brains behind the hugely successful torrent client BitTorrent. Although still in its early years, CHIA is working on an entirely new way of doing things. Rather than relying on PoS or PoW, CHIA instead uses proof of place and time (PoST), which Cohen claims is more secure and more decentralized than any of its competitors. Despite still being a very young currency, the isaredollarser is encouraging so far. In the meantime, we have examined 5 Bitcoin alternatives for those who say that PoS projects will be preferred over time.


Like it? Share with your friends!

353
Michael Lewis

0 Comments

Your email address will not be published. Required fields are marked *