One of the biggest criticisms of cryptocurrencies is their high energy expenditure. This also played a role in the transition of leading altcoin Ethereum from the energy-intensive PoW consensus mechanism to PoS. Now there are green altcoin projects that shine on the agenda.
Shining green altcoin projects
While initially unthinkable due to its high energy expenditure, cryptocurrencies are now trying to bridge the gap between climate and crypto. Climate optimists have come together to adapt new technologies to transform energy-sucking crypto into something more sustainable and green.
On the other hand, some projects are migrating from Proof-of-Work (PoW) to Proof-of-Stake (PoS). This makes them more sustainable crypto tags. It is possible for us to consider the following three altcoin projects as the top 3 green cryptos in this field. Bridging the gap between green investments and crypto will likely be one of the paths crypto investors take. These three projects provide the least CO2 output. As such, it represents projects that ensure a better future for crypto enthusiasts and the planet in general.
1. Ethereum (ETH)
Ethereum is the second largest cryptocurrency in the market. The smart contract giant is known for its decentralized application (dApp) development environment on which numerous other projects are built. As you follow on Kriptokoin.com, with ‘Ethereum Merge’ the project has switched from PoW to a PoS protocol. Thus, he started verifying transactions by staking. Merge has reduced the power draw of the entire network by an astonishing 99.95%. This made the entire network low-carbon.
ETH daily price chart / Source: CoinMarketCapAt press time, Ethereum was trading at $1,300.37, up 1.32% on the day, according to data from CoinMarketCap. However, it was down 3.32% compared to the previous week.
2. Chia (XCH)
Chia’s branding and marketing focuses on positively impacting the environment using a Proof-of-Space protocol. Basically the protocol is using unused hard disk space to authenticate the network. The project highlights that the network uses only 0.16% of the annual energy consumption of Bitcoin (BTC). Thus, it creates a ‘green paper’ detailing the consensus protocols.
XCH daily price chart / Source: CoinMarketCapAt press time, XCH was trading at $31.80, up 0.94% on the day, according to CoinMarketCap data. However, the altcoin has lost 6.71% in the last seven days.
3. VeChain (VET)
Among other things, VeChain is working on green initiatives to drive greater stakeholder engagement. In this context, it signed an agreement with the government of San Marino for projects that present the future of safe and traceable food. Current forecast models of the project show that VeChain produced 4.58 metric tons of carbon emissions. This means that it equals the emissions generated for mining a single BTC.
VET daily price chart / Source: CoinMarketCapAt press time, VET was trading at $0.002289, up 1.49% on the day, according to data from CoinMarketCap. However, the altcoin has dropped 2.95% in the last seven days.
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