Солана (SOL)
Solana is another eco-friendly cryptocurrency worth knowing about. With its highly scalable network, Solana rapidly gained prominence in 2021, becoming one of the most discussed cryptocurrencies of the year. This is due to its potential throughput of 65,000 transactions per second (TPS), which far exceeds Bitcoin and Ethereum.
This achievement is made possible by Solana’s dual consensus model, which combines Proof-of-Stake (PoS) and Proof-of-History (PoH). The PoH was introduced by Solana’s founder Anatoly Yakovenko in 2017 to drastically reduce processing times.
Solana is undoubtedly one of the most environmentally friendly cryptocurrencies thanks to its innovative scaling approach. The network claims that the average operation consumes only 2,707 Joules of energy, which is less than the energy used for three Google searches.
Anyone can monitor the network’s energy consumption on its website, and the data is verified by an expert energy and climate advisor, ensuring transparency for this green cryptocurrency. Solana is also funding Watershed Climate to eliminate refrigerants, which has proven to be one of the best methods to combat CO2 emissions.
Кардана (ADA)
Next to Solana, Cardano is another Ethereum competitor in the smart contract space, with its native coin ADA. Some sources claim that Cardano is 47,000 times more energy-efficient than Bitcoin, thanks to its PoS consensus mechanism and other factors. It is one of the largest layer 1 blockchains and, even during the 2022 bear market, has continued to outperform its competitors. Notably, Cardano has partnered with Veritree to plant over a million trees to offset the environmental impact of crypto mining and transactions.
Чиа (XCH)
This blockchain system is designed to be more sustainable than major players like Bitcoin and Ethereum. Chia achieves this using a unique ‘Proof-of-Space-and-Time’ approach.
осы eco-friendly mining method utilizes unused storage space on users’ hard drives by creating 10GB ‘plots’ that are then used with low energy to verify new blocks on the network. This approach reportedly consumes 500 times less energy than Bitcoin’s blockchain.
As a result, Chia’s native cryptocurrency, XCH, has seen numerous bull runs and is now considered one of the most reliable crypto projects.
Нано (NANO)
Compared to other cryptocurrencies, Nano has a much lower energy footprint. Although you may not be familiar with it, this coin has been circulating since 2015. Nano is lightweight, easily scalable, and doesn’t require mining, making it much more energy-efficient and reducing its carbon footprint compared to other digital currencies.
Using a block-lattice architecture, it remains energy-efficient while also minimizing its carbon emissions. It requires proof of work, but the block-lattice structure allows users to utilize a ledger that functions in addition to the blockchain. Account holders cast votes to elect representatives who securely validate transactions.
SolarCoin (SLR)
SolarCoin operates in a decentralized, government-censorship-resistant manner and is globally accessible. It functions similarly to other cryptocurrencies, but with a key difference: it is powered by and incentivizes environmentally responsible action through solar energy.
Нақтырақ айтқанда, SolarCoin is generated through the use of solar energy that can be independently verified. This approach both reduces the crypto world’s reliance on nonrenewable energy and encourages the use of renewable sources.
One SolarCoin is awarded for every megawatt-hour of electricity produced using solar energy. To trade Bitcoin for SolarCoin, users must upload documents verifying their production, whether as individual consumers or large companies with solar panels. There are also automated upgrades in development that can be integrated with solar panels.
Bitcoin’s (BTC) Green Initiatives
Bitcoin mining consumes resources that would otherwise remain unused. For instance, Iceland, which sits atop a volcanic hotspot, enjoys cheap, clean energy and an abundance of heated water. Bitcoin miners can take advantage of renewable energy sources like geothermal and hydroelectric power. Unsurprisingly, miners in Iceland produce 8% of the world’s Bitcoins.
Without capturing and utilizing waste methane, air pollution could result from some power sources. Methane is 30 times more harmful than carbon dioxide over 100 years. Bitcoin mining is one technology that can be used to reduce methane emissions кең ауқымда.
By 2045, Bitcoin mining could help reduce climatic changes by 0.15 °C while cutting methane leaks by 23%. As a result, Bitcoin mining can help prevent a potential climate disaster caused by the release of methane into the atmosphere.
Additionally, Texas has surplus natural gas that oil companies do not want, as it’s too far from pipeline systems to be profitable. Flared methane can be used in Bitcoin mining in an environmentally friendly way. Data shows that Bitcoin mining contributed only 0.08% of global CO2 emissions in 2021, which may suggest that criticisms of its energy consumption stem from parties concerned about decentralized finance’s potential to undermine central banks. You can learn more about Bitcoin’s green initiatives here.
