Cryptocurrency experts have named the environment-friendly cryptocurrencies. They conducted intensive research about these virtual assets in response to the increasing demand from environment-conscious investors declaring their interest in cryptocurrencies that help save the environment from degradation.
We find this article about environment-friendly cryptocurrencies interesting and worth sharing with our readers. We think it is reasonable to pour investment funds into these eco-friendly virtual assets, which promote a cleaner and healthy environment for people worldwide.
Based on the report posted online by influential platform Analytics Insight which delivers insights, opinions, and trends from the data-driven technologies realm, the following are the six best environment-friendly cryptocurrencies:
Developers created BitGreen as a response to Bitcoin and considering the latter’s environmental impact. BitGreen is among the preferred environment-friendly cryptocurrencies and is a 100-percent community-run project utilizing an energy-efficient, proof-of-work algorithm.
BitGreen’s company started its operations in 2017. It has established a non-profit organization to handle and oversee the BitGreen project.
Cardano is inherently more energy-efficient than Bitcoin because it utilizes a consensus mechanism where those taking part in the virtual currency purchase tokens to join the network.
Additionally, Cardano helps save a massive amount of energy. Its founder said that the virtual currency network consumes only 6 Gigawatt-hours or GWh of power.
Nano employs energy-efficient block-lattice technology. It is still dependent on a proof-of-work mechanism.
However, block-lattice technology goes beyond blockchain to make an account chain for every user on the network.
Furthermore, the Nano platform utilizes a system called Open Representative Voting or ORV, where accountholders vote for their chosen representative, who then works to securely confirm blocks of transactions.
SolarCoin is a decentralized and global virtual currency. Being among the preferred environment-friendly cryptocurrencies, its developers have made an enormous difference by creating a trusted and sustainable digital asset.
SolarCoin’s makers target the creation of one SolarCoin for every megawatt-hour generated from solar technology, which is unlike any other cryptocurrencies.
Stellar is one of the best environment-friendly cryptocurrencies overseen by the Stellar Development Foundation, and the network was released in 2014. It enables a faster and cost-effective transaction mode.
Eco-friendly Stellar is considered a strong alternative for transaction applications like PayPal. This virtual asset employs a consensus protocol that is even better than the proof-of-stake algorithm.
Tronix is the pre-mined TRON cryptocurrency tradable on Binance and other cryptocurrency exchanges. Massive plans are afoot for TRON’s future, including using Tronix to create decentralized gaming platforms.
TRON operates by employing decentralized governance based on a two-tier model of Super Representatives or SR and Super Representative Partners, with each accountable to become an SR and able to vote for SRs.
We are pleased to discover the six preferred environment-friendly cryptocurrencies and share this report with our followers. According to Coinmarketcap.com, there are precisely 16,561 cryptocurrencies in the virtual currency market with an overall capitalization of exactly US$1,962,594,264,132 at the time of writing.
This amount of virtual currencies available to trade and invest in in the market is certainly staggering. However, we believe these virtual assets are not all helpful to the environment or eco-friendly.
By learning about some of the environment-friendly cryptocurrencies in this article, we believe environment-conscious investors can have a sound idea into which to pour their investment funds and help save the environment in the long haul.