{"id":16068,"title":"Sustainable Cryptocurrencies, Green & Eco-Friendly Crypto","description":"Sustainable Cryptocurrencies - Green & Eco-Friendly Crypto. As concerns grow on the environmental impact Cryptocurrency mining has on our planet, we thought we would share some of the more eco-friendly Crypto alternatives.","content":"

Sustainable Cryptocurrencies - Green & Eco-Friendly Crypto<\/p>

As concerns grow on the environmental impact Cryptocurrency mining has on our planet, we thought we would share some of the more eco-friendly Crypto alternatives. Please note we are not affiliated with, or been paid to promote any of these Crypto\u2019s, and we will not link you to any Crypto websites. This is also not financial advice, and you should only invest at your own risk.\u00a0<\/p>

Some people argue a rise in virtual currency reduces the demand for paper money and therefore the reduction in deforestation is ideal. The problem with this logic is that paper is renewable, as we can always plant more trees. The mining process involved with Crypto\u2019s such as Bitcoin demands too much energy<\/a> to be sustainable.<\/p>

Finding \u201cgreen\u201d alternatives can be difficult, as a smaller Crypto\u2019s energy output will be lower than an industry leader's, but when scaled up it could be even worse for the environment. This means other factors have to be considered.<\/p>

The Cambridge Centre for Alternative Finance<\/a> revealed in a report published by Harvard Business Review that crypto mining consumes approximately 110 Terawatt Hours of power each year. This is about 0.55 % of the energy production of the world, and more consumption than many countries combined. This has caused the process of mining cryptocurrencies to be environmentally unsound, due to the number of computer equipment being used that are highly energy-intensive.<\/p>

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Chia (<\/strong>XCH)<\/p>

The first peer-to-peer exchange capabilities and DEXs were launched by Chia. The Chia network partnered with Stable USDS to bring the first stable coin. This was designed to be less energy-intensive.<\/p>

Chia planned to enable users to have self-custody while they were making trades, whether the user is an organization or an individual who were in the space of purchasing assets.\u00a0<\/p>

Chia has also stated that OfferBin.io and HashGreen, which is a Chia cultivation grant recipient, are both launching decentralized exchanges (DEXs) to support the Stably issued USDS and wrapped cryptocurrencies in order to have supported offer files also. An added asset will be the DEXs that will be directly available in Chia\u2019s Light Wallet Beta.<\/p>

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IOTA <\/strong>(IOTA, MIOTA)<\/p>

IOTA was selected in initiative Phase 2 A of the EU Blockchain because they seek to empower people, so they can securely navigate their digital lives, with improved data security and value exchange.<\/p>

They also offer improved peer-to-peer transactions to facilitate Global trade. With borderless IDs that can be identified by anyone, they are working towards building a better world.<\/p>

During the Bitcoins price slump some of these cryptocurrencies took big hits.<\/p>

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BitGreen <\/strong>(BITG)<\/p>

\u00a0<\/strong>BitGreen <\/strong>is now a blockchain focusing on sustainability for the Polkadot Network, as clean bitcoin mining is being offered.<\/p>

Through proof of stake of the consensus model, they consume a small amount of energy to operate their network, making it a more environmentally friendly option.<\/p>

BitGreen also plans to provide a bridge between Crypto and NGO.\u00a0<\/p>

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Image from: https:\/\/republic.com\/bitgreen<\/a><\/em><\/p>

Cardano (ADA)<\/strong><\/p>

Cardano has technological advantages that make it set to <\/strong>take the market share from Ethereum. Cardano (ADA) is open-source and decentralized.<\/p>

They have a research-first philosophy that could make ADA a top 3 cryptocurrency along with Ether and Bitcoin.\u00a0<\/p>

Their website states:

\u201cCardano restores trust to global systems \u2013 creating, through science, a more secure, transparent, and sustainable foundation for individuals to transact and exchange, systems to govern, and enterprises to grow.\u201d<\/p>

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Nano<\/strong><\/p>

Nano crypto could be the faster, cheaper, greener choice, as it can assist finding the best growth stocks using the proprietary quant and stock rating engine.<\/p>

They have independent authors, the widest stock coverage, 10-years-financials, and exclusive ideas.<\/p>

Nano doesn\u2019t rely on mining, printing, or minting, and claim they are a \u201csustainable solution to money\u201d.<\/p>

They are finding new ways to help you instantly send money across the globe, without fees.<\/p>

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Solarcoin <\/strong>(Bonus - SLR)\u00a0<\/p>

Solarcoin is a cryptocurrency that incentivizes solar power (the cheapest energy in 150 countries).<\/p>

They distribute Solarcoins to individuals or companies when they do solar installations.<\/p>

Their 40-year mission is to \u201cbuild a foundation for the global energy transition by rewarding solar producers with an energy-referenced currency.\u201d\u00a0<\/strong><\/p>

They realised if the coin is valued higher than the production cost of solar energy, then the energy becomes free.<\/p>

Their wallet rate is 1 SolarCoin per 1 MWh of verified electricity production.<\/p>

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Are you interested in the environmental impact of NFT\u2019s? Click here<\/a> to learn if they can be good for our environment.<\/p>

\u00a0<\/p>

-\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Originally Written by Denise Salmon<\/p>

-\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Edited by Ralph Burrows<\/p>









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