Bitcoin appeared in 2008, causing a maelstrom in the world of financial technologies. Then, many other cryptocurrencies appear. At first, these cryptocurrencies generate a lot of enthusiasm, as they offer a different alternative to fiat money. However, environmental groups are harshly criticized, since for Mining cryptocurrencies like Bitcoin consumes a lot of energy and has a high carbon footprint.. So, these surprising cryptocurrencies actually have a rather negative side in terms of excess energy consumption.
Some numerical references indicate that generating a Bitcoin requires an energy expenditure that varies depending on the equipment used for mining. However, a Standard mining rig requires between 450 and 500 watts. In turn, the Bitcoin mining carbon footprint generates 23 million metric tons of carbon CO₂ annually.
The bad news is that the BTC blockchain has a protocol known as “halving”, which reduces the number of Bitcoins available by half over a period of four years. What does this mean? That every four years it takes doubling the energy to obtain BTC.
Why are cryptocurrencies so polluting?
To generate cryptos, it is required computers that are kept running 24 hours a day. They are executed very complex calculations, which can only be performed with powerful equipment, which consume a large amount of energy. The energy used is electrical, which is the same as in It is often obtained in generation plants that require heat for the operation of its large electricity-producing coils.
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Esta Cryptocurrency mining consumes a lot of energy, so much so that it requires additional electricity production. Such electricity generation results in a massive release of carbon dioxide into the atmosphere. We're not talking about small amounts of carbon, as the most recent calculations indicate that Cryptocurrency production already releases more CO₂ than the entire international livestock industry..
It's time to admit that the Cryptocurrency technology must be reviewedGenerating Bitcoins—or any other cryptocurrency—involves a form of pollution that often goes unnoticed: the excessive release of carbon into the Earth's ecosystem. This carbon is invisible, but its consequences are serious: Rising temperatures, droughts, ocean acidification, poor air quality, damage to the planet's species, etc.. Is it justifiable to create environmental chaos in exchange for producing cryptocurrencies? The answer is a resounding no! For this reason, a different, eco-friendly crypto has been designed, which has been dubbed the green cryptocurrency.
Chia Coin, an eco-friendly cryptocurrency
It is a crypto derived from the Chia network presented during the year 2021. It is designed by Bram Cohen, who previously prepares the sharing systems known as P2P, in BitTorrentThis cryptocurrency operates on a decentralized blockchain, thus achieving greater energy efficiency.
Cryptocurrency Chia coin (XCH) does not use the mining mechanism so typical of bitcoin, but rather a process that is called “farming". The The ecological vocation of this cryptocurrency is evident even in its terminology.. To generate the XCH crypto the term is not used "undermine", but a lower energy consumption process called “cultivar” cryptos.
No complex calculations requiring high-wattage computers are performed. The information chain system is managed by the network participants, who must demonstrate that they have been storing data for quantifiable periods of time. In addition, those who own the Chia Coin currency and keep their computers active for the operation of this cryptocurrency are called “gardenersEach of these gardeners has a “plot” on the internet where they grow their cryptocurrency.
TRADE WITH STABLECOINSChia Coin's ecological success comes from a Improved and much simpler implementation of the transaction process between tokens. It's not a complicated network of blocks that combine into a blockchain. In reality, it's They replicate many of the strategies of the P2P system, where the important thing is that each farmer contributes a portion of his or her hard drive to the growth of the network. This is how the energy expenditure is much lower, managing to obtain a cryptocurrency that does not release huge amounts of carbon dioxide into the environment.
A cryptocurrency based on digital storage
In P2P networks, the speed and optimization of the system improves the more people are connected. The same is true for the Chia Coin cryptocurrency: The more people use it, the more powerful this cryptocurrency will be.. Its algorithm is designed to award two or three tokens to those who keep a section of your hard drive available for network operationThat is, the currency is generated as a reward in exchange for users donating digital storage.
La analogy with a “farm” is obvious: It is necessary to take care of a portion of the network, where Chia Coin tokens flourish. The more digital storage there is, the more nodes the network can support. Thus, The speed of transactions increases, along with the amount of cryptocurrencies in circulation.This system has many new features and advantages, but most importantly, it eliminates the need for complex computer calculations, significantly reducing the amount of energy used.
INVITE AND WINCryptocurrency Chia coin is already present in the most exchanges. It has the support of numerous environmental organizations. Even personalities such as Elon Musk has issued complimentary opinions on this eco-friendly currency.It is no coincidence that this digital currency has been dubbed the “green cryptocurrency", as it opens Novel perspectives for the implementation of cryptocurrenciesIf cryptocurrencies are to endure, it must be because, in addition to being convenient and adapted to the technology of our time, they are also an ecological and environmentally friendly solution that we must safeguard for future generations.
