Top 5 Energy-Efficient Cryptocurrencies to Invest In
30 August 2021 - 08:39PM
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Bitcoin has been scrutinized for its heavy energy consumption all
around the world, with China and few companies taking drastic
measures. As most of the Bitcoin mining takes place with the help
of coal power plants, the carbon footprint it leaves behind is
massive. Luckily there are several energy-efficient
cryptocurrencies that can be invested in as an alternative for
Bitcoin. Also, these cryptocurrencies are on the rise and make up
for a great early investment opportunity. Here is a list of the top
five energy-efficient cryptocurrencies. Bitcoin Latinum Bitcoin
Latinum is one of the most energy-efficient cryptocurrencies that
is built on the same ideology as Bitcoin. However, instead of the
power-consuming Proof of Work consensus algorithm, Bitcoin Latinum
utilized Proof of Stake, which requires the nodes to validate the
transaction for mining new currencies. Bitcoin Latinum (LTNM) is a
next-gen Bitcoin fork that is greener, faster, and safer than
Bitcoin. LTNM aims to bring faster transaction speed, lower costs,
and better security to several high-growth markets, including
Media, Telecommunications, Gaming, and Cloud Computing. Nano Nano
has one of the smallest energy footprints in the crypto ecosystem,
of 0.000112 kWh per transaction. Nano does not rely on mining and
uses a process that requires low energy that helps it to make quick
transactions with no fees. Nano is a relatively new challenger in
the crypto ecosystem, which adds to its attractiveness. It is one
of the ideal choices for investors looking to make quick bucks by
trading and selling the coin across different markets because of
its fast and no-cost transactions. Cardano Cardano relies on mining
new tokens, but it does not utilize the PoW consensus algorithm.
Instead, Cardano uses an environmentally-friendly PoS model that
requires only one random miner for every transaction. Cardano (ADA)
is the sibling of Ethereum Network and is currently valued at $55
Billion. While currently at a low market value, Cardano has amassed
a lot of popularity and can compete with ETH itself. Ripple Ripple
is one of the greenest cryptocurrencies in the present time. Being
an Altcoin, it only consumes 0.0079 kWh per transaction, one of the
lowest in the entire industry. Ripple does not mine tokens but
relies on a protocol that pools its network for validating
transactions. If the majority agrees on the transaction’s validity,
it is approved and recorded. Hedera Hashgraph HBAR is a new player
and utilizes the same no-mining approach as Nano to offer quick
transactions at low costs. While being new, the cryptocurrency has
amassed support from various corporations such as Google, IBM,
Boeing, and other Fortune 500 companies. Hedera also surpassed the
total daily network transactions of Ethereum by conducting 6.5
Million transactions. These are some of the most energy-efficient
cryptocurrencies available in the market today. All of these
currencies have several unique advantages that investors can decide
upon according to their preferences. Costly and slow transactions
are slowly becoming a thing of the past, and it’s time that
everyone jumps on the green wagon. Image
by seagul from Pixabay
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