On this Earth Day, let’s look at some of the green cryptocurrencies in the market. The general accusation made against cryptocurrency and its backend technology is high energy consumption. Reports in the past few years have stated that US mining firms consume more electricity than any third-world country.
Focusing on some other cryptos, blockchain companies that have been carbon conscious from the start are Ecoterra and Chia. Ecoterra is a “blockchain ecosystem designed to energize climate action.” The platform offers Ecoterra tokens to every user for recycling materials.
Chia works on a mechanism known as Proof-of-Space-and-Time. The platform is said to be consuming a drastically lesser amount of energy (500 times) than the market lead BTC. Other L2 networks that are energy awake are Cardano, Tezos, Polkadot, Avalanche, Algorand, and Solana.
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