Green cryptocurrencies: Difference between revisions
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Green cryptocurrencies use significantly less energy than traditional cryptocurrencies or those that derive their power from renewable sources. Green cryptocurrencies can also operate on energy-efficient systems, such as those that abandon the Proof-of-Work mechanism in favour of Proof-of-Stake. | Green cryptocurrencies use significantly less energy than traditional [[Cryptocurrency|cryptocurrencies]] or those that derive their power from [[Renewable Energy / Green Energy|renewable sources]]. Green cryptocurrencies can also operate on energy-efficient systems, such as those that abandon the [[Proof-of-Work]] mechanism in favour of [[Proof-of-Stake]]. | ||
Due to the enormous carbon footprint of traditional cryptocurrencies, these decentralized finance systems have been criticized. Green cryptocurrencies are a response to this criticism. | Due to the enormous [[carbon footprint]] of traditional cryptocurrencies, these decentralized finance systems have been criticized. Green cryptocurrencies are a response to this criticism. | ||
Examples of green cryptocurrencies include: | Examples of green cryptocurrencies include: | ||
* SolarCoin (SLR) - a cryptocurrency directly linked to verifiable investment in solar energy | * SolarCoin (SLR) - a cryptocurrency directly linked to verifiable investment in solar energy | ||
* Cardano (ADA) - a cryptocurrency created by Ethereum co-founder Charles Choskinson. It is the first cryptocurrency in the world to be evaluated by academia. Compared to Bitcoin (7 transactions per second), Cardano allows 1000 transactions per second. | * Cardano (ADA) - a cryptocurrency created by [[Ethereum]] co-founder Charles Choskinson. It is the first cryptocurrency in the world to be evaluated by academia. Compared to [[Bitcoin]] (7 transactions per second), Cardano allows 1000 transactions per second. | ||
* Stellar (XLM) - a cryptocurrency created in 2014. The Stellar network does not charge a fee to users and institutions using it, so it is seen as a growing competitor to PayPal. | * Stellar (XLM) - a cryptocurrency created in 2014. The Stellar network does not charge a fee to users and institutions using it, so it is seen as a growing competitor to PayPal. | ||
Latest revision as of 16:09, 4 July 2022
Green cryptocurrencies use significantly less energy than traditional cryptocurrencies or those that derive their power from renewable sources. Green cryptocurrencies can also operate on energy-efficient systems, such as those that abandon the Proof-of-Work mechanism in favour of Proof-of-Stake.
Due to the enormous carbon footprint of traditional cryptocurrencies, these decentralized finance systems have been criticized. Green cryptocurrencies are a response to this criticism.
Examples of green cryptocurrencies include:
- SolarCoin (SLR) - a cryptocurrency directly linked to verifiable investment in solar energy
- Cardano (ADA) - a cryptocurrency created by Ethereum co-founder Charles Choskinson. It is the first cryptocurrency in the world to be evaluated by academia. Compared to Bitcoin (7 transactions per second), Cardano allows 1000 transactions per second.
- Stellar (XLM) - a cryptocurrency created in 2014. The Stellar network does not charge a fee to users and institutions using it, so it is seen as a growing competitor to PayPal.
