Society has never been more painfully aware of the damage it is doing, collectively, to the planet. Sadly, there is already too much that we’ve already inflicted upon the environment – but there are always ways that we can change our habits to curb any future devastation. Believe it or not, cryptocurrency isn’t just proving convenient in financial handling – much of it is also ‘going green’.
But how exactly does this work? What’s more, how can everyday traders get involved? It’s always a sound idea to check out a reputable list of the best eco-friendly cryptos you can buy into right now. However, ahead of this, let’s acquaint ourselves with what actually makes specific crypto coins green in the first place.
Crypto’s environmental impact
To better understand how crypto can be considered eco-friendly, we need to look at how everyday crypto could be considered highly damaging, or draining, on the planet. The fact is that mining for Bitcoin, Ethereum, and more demands a huge amount of power and uptime. That means constantly running high-energy machinery to keep sourcing new coins and currencies.
Much of these transactions and calculations is only possible through non-renewable energy at present. High-intensity mining processes and power-draining systems are dependent on everyday electricity and gas – which means that much of crypto is draining our planet of its most precious resources.
So, what can green crypto do to change things around for the better?
How eco-friendly cryptocurrency works
First and foremost, sustainable or eco-friendly cryptocurrency simply doesn’t use as much power as the mainstream. This means that users and investors can still expect healthy mining returns, but without the intensive reliance on non-renewable resources.
A leader in eco-crypto is Nano – running through nano-transactions – which scale down energy consumption to a mind-boggling degree. Around 10,000 nano-transactions, for example, may be worth an energy equivalent of around three hours of TV use. Comparable to everyday Bitcoin mining, the energy needed to mine just one BTC is worth around 20 million nano-transactions – incredible!
Some crypto staples may also pledge to give back to the environment. For example, some initiatives may decide to plant a tree for every kilowatt hour of energy expended. Beyond this, other cryptocurrency mining initiatives may purely revolve around renewable energy, such as that derived from hydroelectricity or from wind farms.
There may even be some cryptocurrencies out there that cover all three bases. In any case, it’s seeming ever easier to commit to the environment while still mining for lucrative digital currency.
Is eco-friendly crypto the future?
The internet is always evolving, and with it, so is awareness of more convenient, more efficient and less wasteful resources. Cryptocurrency is rooted in convenience and ease of use – but with it, millions are committing themselves to ensuring that the environment doesn’t suffer as a result of mining and resourcing.
It’s not impossible to believe that some major crypto will emerge from eco-friendly standards in the years to come. However, it will remain to be seen if major resources such as BTC shift along the same lines.