Making a list of green cryptocurrencies that show less carbon footprint requires a lot of consideration, but in general, by 2021, some cryptocurrencies have been able to carry the name of a nature lover and attract investors. Competition for reduced energy consumption and environmental impact among cryptocurrencies is intensifying, and it looks like the future will be one of those currencies that are more environmentally friendly and more valuable to the planet.
In this article, the most well-known nature-friendly cryptocurrencies have been prepared from the point of view of websites and based on the views and opinions of various experts active in this field.
More than a decade has passed since the advent of bitcoin, and now the cryptocurrency market is perhaps in one of its most sensitive positions. With the extraction of bitcoins and other cryptocurrencies, one of the topics is considered by environmentalists and supporters and is widely criticized.
In recent months, this issue has become so important that the issue of high energy extraction of bitcoin has caused this popular cryptocurrency to be criticized, and even one of the reasons for the fall in the price of bitcoin is attributed to this issue.
Meanwhile, the issue of green digital currencies, nature-friendly cryptocurrencies and currencies that can be fully extracted with renewable energy was raised. Although such issues have been raised before, the issue of high energy consumption for bitcoin mining and some other cryptocurrencies has made renewable energy mining more important than ever.
Where will the future of the digital currency market go? Will green ciphers grow in the market in the future? Which of them will have a better future?
Important note: The material presented in this article was prepared in September 1400 and does not contain any specific investment recommendations.
Carbon emission due to extraction of cryptocurrencies
According to statistics conducted by the University of Cambridge and the International Atomic Energy Agency (IEA) on carbon emissions from bitcoin mining, carbon emissions in the industry peaked last year, according to one researcher. If other approaches are taken to extract bitcoins and other cryptocurrencies. Carbon emissions will reach one-third in the next five years and probably zero in the next ten years.
Anthony Scaramucci, CEO and founder of SkyBridge, believes that the energy needed to mine bitcoins by 2030 will be fully supplied by renewable energy sources. In fact, he says, in less than a decade, bitcoin will become a completely green and nature-friendly cryptocurrency.
It remains to be seen whether other cryptocurrencies can outperform Bitcoin in this ten-year period. Isn’t ten years a long time to fulfill such a promise? And will Bitcoin be able to maintain its position in terms of market value during these ten years, or may it give way to other digital currencies?
Undoubtedly, the SkyBridge project to compensate for greenhouse gas emissions from bitcoin mining is one of the largest projects in the field. Such approaches directly affect the life of the planet and can change the future of the mining industry.
Bitcoin mining with core energy
Another issue that is being raised about bitcoin mining is the use of nuclear energy for mining, which is said to begin in December in Ohio.
Extracting bitcoin with nuclear energy helps reduce the consumption of fossil fuels. The energy of the nucleus is carbon-free. In this regard, the company that produces nuclear energy and fossil fuels, Harbor, recently entered into a partnership with Standard Power, a provider of bitcoin mining services. Of course, it should be noted that nuclear energy does not seem to be a good option for extracting bitcoins with clean energy. Because the construction of nuclear power plants is very expensive and will have its own issues.
Extraction of ciphers with solar energy
Another way is to extract cryptocurrencies with solar energy. For example, iMD is a cryptocurrency technology development company that specializes in cryptocurrency mining. The purpose of this collection is to be one of the lovers of nature and environment by reducing energy consumption and supplying it through solar energy. The company has based its use on solar energy to supply the energy needed by its devices.
One of the strategies that the company pursues is to extract cryptocurrencies such as Bitcoin, Atrium, Cardano, Light Coin and Bitcoin Cache.
Introducing some nature-friendly cryptocurrencies
When it comes to environmental issues, extracting nature-friendly cryptocurrencies becomes even more important. In fact, in the near future there will come a time when currencies with high energy consumption and carbon emissions can not hope for their future. That’s why many investors are looking for cryptocurrencies that are nature-friendly and more hopeful about their future. It is often said that some cryptocurrencies with lower market value show less carbon footprint, but this may be because their trading volume is also lower.
But there are also cryptocurrencies that are extracted from renewable energy sources or can be less life-threatening than others. So far, a lot of research has been done on the classification of green cryptocurrencies, for example, based on research conducted by TRG Datacenters It seams IOTA, Ripple and Chia cryptocurrencies are among the most energy efficient.
IOTA (0.000111 kWh)
XRP (0.0079 kWh)
Chia (0.023 kWh)
The institute introduces several ciphers as nature lovers. However, some other institutions have a different view, the following point of view is added to the views of TRG Datacenters:
Chia is a good example of a cryptocurrency that consumes less energy, says TRG Datacenters. The extraction process used in Chia uses hard disks and relies on computer processors. This approach makes it easier for home users to program on these cryptocurrencies and does not consume much.
However, some critics argue that chia is not very environmentally friendly, as it leads to a significant increase in demand for computer hardware and an increase in e-waste.
IOTA uses Tangle, which is an alternative technology for miners, and this device is maintained by smaller devices and therefore requires less energy.
3- Cardano (ADA)
Unlike cryptocurrencies such as Bitcoin, Cardano uses a system called Ouroboros to store a significant amount of energy with the same approach: Ouroboros is the first blockchain-based protocol. Some believe that Cardano is the most famous green ciphers on the market. According to TRG Datacenters analysis, its power consumption is 0.5479 kWh.
Cardano can be used for decentralized development platforms (dApps), and the interesting thing is that when Bitcoin experiences seven transactions per second, Cardano can have a thousand transactions per second.
Cardano is inherently greener than Bitcoin and Atrium, but it remains to be seen how this position will change with the changes that will take place in the Atrium network and the plans that Bitcoin has in place.
The TRG Datacenters research institute has also taken a special look at nano, listing it in the list of green cryptocurrencies and using blockchain technology, which can be said to be environmentally friendly and does not have a bitcoin-like approach and speeds up to 125 Transaction in seconds is one of its desirable features.
These cryptocurrencies are traded independently of each government, and one of the important points about it is that it uses electricity generated from solar panels and extracts one Solarquin coin for each megawatt hour of energy. In the future, it is expected that the approach to solar extraction will change and that the Internet of Things will be able to help.
Launched as a green alternative to bitcoin, the eco-friendly digital currency rewards users for the right environmental behavior.
Bitgreen was introduced in late 2017 as a way to save from the destructive effects of the environment. The basis of the work was to give gifts to users as an incentive for nature-friendly things.
8- Stellar (XLM)
Stellar was not on the TRG Datacenters list, but has been added to the list due to the fact that many research institutes have named the cipher among nature lovers and green ciphers.
In 2014, the Stellar network started operating. In fact, the network was separated from Ripple and redesigned independently. At first, it operated under the same name as the Stellar network, but later continued to operate under the name Lumen, as a non-fee-paying network. For this reason, Lumen is a serious competitor to PayPal.
The cryptocurrency of this lumen network uses decentralized blockchain with the aim of reducing carbon footprint, and this is one of its advantages.
9 – Ripple (XRP)
Ripple started in 2012 as a private platform for decentralized banks and financial institutions. One of Ripple’s products is the XRP cipher, also known as Ripple, which can process more than 1,500 transactions per second.
Ripple Network has secure and efficient networks, and Ripple uses the Protocol Consensus Algorithm (RPCA), and its low cost and high speed are some of its good features.
10 – EOS
IAS Blockchain is public and developer-friendly and open source. IAS is very easy to set up and can be started with several simple and scalable programming languages. In addition, IAS transactions are free and have very low fees. IAS is considered by some to be the killer of the atrium because it performs many of the activities of the Atrium network in a simpler and more optimized way.
11 – Theron (TRX)
Theron is also a public blockchain based in Singapore and is in fact a non-profit, non-governmental organization. Theron supports almost all programming languages and has a lower and more efficient power consumption.
12 – BURST Quinn (BURST)
Miners have special conditions for using the Quinn crest and consume as much energy as a computer with a terabyte hard drive. As a result, less energy is consumed and can therefore put its name among the green ciphers.
To this list can be other cryptocurrencies such as Algorand (ALGO)، Headra Hashgar (HBAR)، DEVVIO، Holocaine – Holotocene (HOT)، Metamorphosis (MHC) Also added. Some websites believe that with changes in network infrastructure Atrium The name Atrium should also be added to this list.
The cryptocurrency market is facing fluctuations and changes every day. The list in this article is based on surveys conducted over the past six months, and this list can be changed and supplemented over time.