- The debate on the legal stability of cryptocurrencies is not going to stop anytime soon. But amidst these debates, the news of most cryptocurrencies causing harm to the environment is spreading like wildfire. You may ask, “How can cryptocurrencies cause harm to the environment?” Well, it is said that a lot of energy is used to mine crypto coins and carry out transactions. Not only that, but the hardware used to carry out these activities also consumes a lot of power that leads to the overutilization of energy. The only way out is using environment-friendly cryptocurrencies.
- If you are looking to invest in environment-friendly cryptocurrencies, we suggest you read this blog post till the end.
- In this blog post, we will be talking about the best environment-friendly cryptocurrencies that are availaBitcoin Price:
List of the Best Environment-friendly Cryptocurrencies
Let’s dive right into the much-awaited list then. Here we go:
1) Algorand (ALGO) –
- Algorand is the first name on our list of the best environment-friendly cryptocurrencies. Why? That’s because it has recently been announced by Algorand that the blockchain that it uses is free from carbon. Algorand has also joined hands with Climate Trade to improve its sustainability profile.
2) BitGreen (BITG) –
- Bitgreen is also one of the best environment-friendly cryptocurrencies that are available in 2021. Through its mobile impact wallet, it will distribute financial rewards to those users who will record their actions that are environment-friendly like discarding plastic items.
3) Chia (XCH) –
- Chia is also one of the best environment-friendly cryptocurrencies that are currently available. If you run this decentralized platform on your hard drive, you will earn Chia tokens. The Amazon web services cloud platform allows the mining of Chia. Chia claims to be environment-friendly by using farming in place of mining and farming does not cause pollution. It does so by using the user’s hard drive storage space thus eliminating the need for energy-consuming processors that are used to mine coins.
4) Devvio –
- This upcoming cryptocurrency is the next name on our list of the best environment-friendly cryptocurrencies. It claims to solve complex problems using its blockchain easily and efficiently. As per Devvio, the number of transactions that it can process per second is a whopping 8 million.
5) Hedera Hashgraph (HBAR) –
- This popular cryptocurrency is the next name on our list of the best environment-friendly cryptocurrencies that are available in 2021. It uses a technology that focuses on a note-comparing protocol that makes progression through the blockchain unnecessary. It is going to bring a lot of updates soon including sharding that will make the number of transactions rise by fragmenting the network and that will prevent the exploitation of energy.
6) Holo (Hot) –
- This “green” app will allow you to have your own blockchain and is also one of the best environment-friendly cryptocurrencies. What makes it “green”? It is the fact that it does not store and validate the blockchain that makes it use only a small bandwidth amount. Not only this, but the fact that it does not require mining leads to less consumption of electricity and thus makes it a “green” cryptocurrency. If you are hesitating to invest in cryptocurrency, we say jump on the bandwagon by using the Holo app as it is the best app for taking the plunge.
7) IOTA (MIOTA) –
- IOTA is a cryptocurrency that uses Directed Acyclic Graph (DAG), a verification method based on cryptography that allows transactions to go hand-in-hand with verifications on a real-time basis. The fact that makes it environment-friendly is that it uses the Fast Probabilistic Consensus (for arriving at a consensus) and Proof of Work. As a result, the energy consumption is less. But, what is Proof of Work? It is a system that requires minimal effort and prevents over-usage of computing power thus resulting in less energy consumption.
8) Metahash (MHC) –
- This open-source cryptocurrency is the last name on our list of the best environment-friendly cryptocurrencies. It is the last name but definitely not the least. It allows the usage of low-key hardware for mining and is therefore environment-friendly. The blockchain that it uses is Blockchain 4.0 and as per claims made by Metahash, its validation rate is fewer than three seconds for each transaction.
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- These are the best cryptocurrencies as far as energy efficiency is concerned. Go for the plunge and increase your fortunes using these environment-friendly alternatives. Say “Yes” to “Green” Cryptocurrencies.