Regardless of the popular narrative that cryptocurrencies are polluting the world, the environmental benefits of crypto are endless. Cryptocurrencies create a more sustainable way of trading. How? Digital cryptocurrencies minimize carbon footprint by creating a greener way of banking and reducing print money. There are many cryptocurrencies with environmental benefits both for users and for investors. We have a comprehensive list of the most eco-friendly cryptocurrencies.
1. Cardano (ADA)
If you are not new to crypto, you may have already heard of Cardano. It is a famous crypto coin developed by the father of Ethereum, Charles Hoskinson. Cardano is widely used around the world as a blockchain that is built for fast digital transactions, but its popularity is also highlighted due to its eco-friendly nature.
Cardano uses a ‘Proof of Stake’ method for transactions. Simply put, the proof-of-stake method allows those who use the currency to buy tokens through its network which in return helps to save a large amount of energy. According to its founder, the coin uses only 6 GWh of power, and considering this amount of energy does not increase as transactions, Cardano is one of the most eco-friendly and efficient coins.
2. Powerledger (POWR)
Powerledger is a decentralized network that helps users with crypto to make transactions. The token which was established in 2016 had a considerably high market value during the pandemic despite other crypto market crashes. Today it continues to be one of the biggest crypto tokens. What most people do not know, however, is that Powerledger is one of the most sustainable tokens. With its tokens, users receive access to a peer-to-peer platform that operates as a clean energy tracking and trading system. The tracking system helps to create more stable energy grids. In addition to this, Powerledger has been aiming to reduce administrative procedures to create a platform that is more energy-efficient for users.
3. TRON (TRX)
TRON is a decentralized non-profit organization. It created a peer-to-peer public platform that allows users to share applications through its blockchain, reducing their energy usage. The TRON currency Tronix is used to create decentralized gaming platforms across the world. These games allow users to use their energy-efficient platform to earn money directly through the network.
4. SolarCoin (SLR)
SolarCoin is regaining popularity as more companies look into investing in greener solar initiatives. It uses a decentralized platform that is aimed at reducing environmental activity. The system works with solar energy and an incentive system — it creates a coin for every megawatt generated from solar technology. To take advantage of this and profit, users need to upload documents to prove solar generation. The coin is, therefore, an excellent way of promoting solar energy and helping users to reduce the cost involved with solar installations.
5. Gridcoin (GRC)
As a decentralized blockchain, Gridcoin uses a peer-to-peer network allowing users to earn rewards without the need for a central authority. The platform uses its native coin to help source many projects that aim to reduce energy consumption. Participants that use the network and coin help to contribute to science relating to these initiatives. Users are also rewarded if they grant researchers access to unused computer sources.
To sum it up
Crypto has many benefits to the environment. Decentralized networks are aimed at helping users gain profit through a system that does not use as much energy as traditional banking methods. These coins and networks, however, go a step further by specifically tackling energy issues around mining and reducing their energy usage. They create methods to help organizations and researchers reduce energy consumption worldwide.
As awareness regarding climate change is spread across multiple industries, more and more sustainable options will be available to do trading in a more ethical way.
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