Energy consumption has always been a cause of concern amongst Cryptocurrency.
Current environmental impacts amongst some of the lead cryptocurrencies is the boogeyman haunting the massive portion of our general public from ditching the true Funny Money and joining us in the promised land. These impacts don't rest solely on the power required for Mining; the transactions conducted on NFT platforms, Blockchain Gaming, anything built off the Blockchain corresponding to the currency. As our community expands in size, it not only threatens our transaction times and "convenience", it taxes our environment as a whole.
Regardless of ones' views on the matter, What can be agreed upon is that energy efficiency not only benefits the Economy, but the Environment.
Okay, but what even is the difference between Currencies that are Carbon-Neutral and aren't?
From the beginning, Crypto mining and NFTs were so niche that it seemed miniscule. A majority of the long standing, Titans of the Crypto Industry at this current point do not run on 100% Carbon-Neutral or Green energy means.
Granted, This says nothing as to: the overall energy efficiency in comparison to Big Banks, the investment success, or overall growth of these Coins. To the contrary, these problems have only arisen as they are now at peaks that was not previously foreseen.
ETH as I have discussed in previous articles has acknowledged this need to move more into a Carbon Neutral method of running their Blockchain. ETH2 is on the way, and should roll out by the mid point of next year.
In ways, I believe BTC has done their efforts to move to a more energy efficient route, with an article headlined "Bitcoin energy consumption is far more efficient and greener than today's banking system." (Sourced Below) from Jan 19th of this year to help support my theories.
Then there's the topic of DOGE, who to my knowledge at this time has not shown any signs of interest towards going Carbon Neutral.
A big portion of why I bring this topic to light is to pose this question: "What example do we want to set for currencies to follow?"
Yes, Maybe BTC and ETH aren't giant problems right now in the terms of global energy consumption and our environment, but it's a slippery slope. Big rising titans like SOL are not officially on a Zero Energy consumption. At this stage, may not pose any issues, but give this a solid 6 months to a year once the hype really builds, as we all know it will.
If It's greener than Banks, What's the problem?
We aren't here in my opinion to compare Apples to Rotten Vegetables am I right? Of course, our lord and saviors that are holding down the cause for decentralized currency are leaps and bounds above what we have been force fed our whole lives. What about, the competitors in our back door? The up and comings? The currencies trying to be Better than the Best that we have. Being better than energy guzzling computers is to be Carbon Neutral, if not completely "Green".
This, Ladies and gentlemen, is what Crypto is all about.
We have Big Up and Comers, and veterans alike within: WAXP, XTZ, ADA, ETH forked MATIC, XinFin, even Bitcoin has BCH in the running.
The future is Green, Crypto family.
With more renewable resources in the Cryptoverse brings faster transactions, ease of growth, and easier integration amongst society. This sort of innovation doesn't normally happen in an industry at this pace. The level of evolution that the Crypto community has seen in these past months, let alone last few years is massive. Looking forward to what's next!
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