As the adoption of cryptocurrencies is increasing, there are many developments in the market to support this situation. According to the announcement, the advertisement of the popular altcoin project Algorand will be published in the famous New York Times Square. Here are the details of the news in question…
The advertisement to be published by ALGO is expected to have a great impact
It is thought that advertisements in the crypto market direct people to the sector more. A similar advertising project will be carried out by the popular altcoin Algorand team. Altcoin’s team said in a statement on last Monday that a blackout will be implemented in the world-famous Times Square in New York on April 21 in order to spread environmental awareness.
About 1 hour before this planned blackout application, an advertisement of the altcoin project will be published, encouraging people to be sensitive to the environment. On the other hand, Algorand’s effort to encourage people to be more environmentally conscious comes at a time when the crypto industry is the focus of criticism on energy and carbon emissions. The reason for this is that the Proof of Work mechanism used by leading Blockchains such as Bitcoin and Ethereum is less sensitive to the environment in terms of energy use compared to the new systems used by Blockchains such as Algorand.
Altcoin advertisement aims to break prejudices
According to the statements made by the Altcoin team, the advertisement in question aims to break the prejudices of Blockchain technology regarding energy use. Staci Warden, CEO of the Algorand Foundation, states that this ad plans to remove many people’s preconceptions about the carbon emissions of Blockchain technology. Making a statement on the subject, ALGO CEO states the following:
We want to raise public awareness that chains like Algorand are much more environmentally friendly and sustainable than the first generation Proof of Work Blockchains, thanks to the developments in blockchain technology. In addition, we aim to convince the public that the next generation Blockchains are much more environmentally friendly than the traditional banking and financial sector. Staci Warden, CEO of the Altcoin foundation
, also states that 6,500 kilowatt-hours of electrical energy will be saved thanks to Times Square being dark for 1 hour. Warden, who we follow closely as Kriptokoin.com, states that 350 million transactions can be made on the Algorand Blockchain with this amount of energy:
We determine the level in order for other altcoins to follow. We want them to see that a Blockchain is both energy efficient and capable of performing complex transactions with precision and scale with security.
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