Anyone aware of cryptocurrencies and their nature, knows that they had a negative impact on the environment. However, in recent years the impact of cryptocurrencies on the environment has been lessened with the successful development of Bitcoin alternatives, also known as altcoins. They tend to use less electricity, and are not reliant on mining. Of course, that led to a growth in the market cap of cryptocurrencies.
Here are some of the most popular eco-friendly cryptocurrencies:
Tamadoge (TAMA)
This new token on the Ethereum blockchain is on presale, and soon will be in place to sell out. As we know, the Ethereum merge is also expected soon. The transition from proof of work to proof of stake will definitely make Ethereum 2.0 way more eco-friendly cryptocurrency.
So. TAMA will become one of the newest cryptocurrencies on the Ethereum blockchain after its carbon footprint is reduced.
Talmadoge is also considered to be a good investment as a presale, as it has a low price, and great potential.
Here, it is important to say that there are many eco-friendly cryptocurrencies that are not considered to be a good investment, such as IOTA and Nano, which have a bearish price chart for years.
Algorand (ALGO)
Algorand partnered with Climate Trade in the assistance of companies to become carbon-neutral or negative. Till now, they have helped more than 500 companies offset around three million metric tons of carbon.
ALGO made use of a sustainability oracle to notarize the carbon footprint on chain. Afterwards, the Foundation behind the Algorand pledged to lock an amount of carbon credit as an ASA into a green treasury. With that partnership, Algorand announces it is fully carbon-neutral.
Battle Infinity (IBAT)
Similar to Tamadoge, Battle Infinity is another presale, which is now sold out and launched.
Battle Infinity (IBAT) is a token running on the Binance Smart chain. It is a Proof of Stake Authority network and the agreement protocol is more eco-friendly, consuming less than 1% Terawatts per hour per year of Bitcoin.
Moreover, Binance is committed to environmental conservation and has strict criteria for environmental, social and governance, as well as lower gas fees. Those are the reasons for tokens like Battle Infinity to build on the Binance chain.
Tezos (XTZ)
Tezos was launched in 2018 as one of the first proof of stake blockchains. Its central selling point is being an eco-friendly cryptocurrency network. Its upgrades come at a low cost and energy output. For the last few years, Tezos has been considered to be one of the most eco-friendly cryptocurrencies with great energy efficiency during the time.
In 2021, Tezos had a 30% less requirement for electricity, compared to 2020.
Polkadot
Polkadot is considered to be the lowest carbon footprint cryptocurrency, with lower carbon emissions than Cardano, Solana, Tezos and many others, among the eco-friendly crypto assets.
It also has the lowest total electricity consumption, measured in kWh/year.
How to know an eco-friendly cryptocurrency?
There are many factors showing that a cryptocurrency is friendly to the environment, such as:
Electricity consumption per year;
Total annual electricity usage;
A Watt hour per transaction calculation;
If the token runs on Proof-of-stake blockchain;
Partnerships in the industry;
Moreover, there are many crypto projects fighting against climate changes, including Cardano. At the same time, not all of them manage to create a hype from investors, and it may take years before the market reflects their utility and use cases in the industry.
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