Join us on Twitter or Telegram
Though initially unthinkable due to high energy expenditure, cryptocurrencies are now trying to bridge the gap between climate and crypto. Climate optimists pulled together in an attempt to adapt new technologies to turn energy-sucking crypto into something more sustainable and green.
On the other hand, other projects are transitioning or have transitioned from a proof-of-work (PoW) into a proof-of-stake (PoS), which nets them the label of more sustainable crypto.
The following three could be deemed as the top 3 green crypto projects in the sea of various crypto projects.
The smart contract behemoth, the second largest crypto, is well known for its decentralized application (dApp) development environment, on top of which numerous other projects were built. With the recent ‘Ethereum Merge,’ the project moved away from PoW into a PoS protocol, validating transactions by staking.
The Merge reduced the entire network’s power draw by an amazing 99.95%, making the entire network low-carbon.
At press time, Ethereum was trading at $1,300.37, up by 1.32% on the day, but down by 3.32% across the previous week, as per CoinMarketCap data.
The branding and marketing for this crypto project focus on positively impacting the environment by utilizing a proof-of-space-and-time protocol. In essence, the protocol plots unused hard drive space used to validate the network.
The project created a ‘green paper’ detailing their consensus protocol, highlighting that the network uses only 0.16% of Bitcoin’s (BTC) annual energy consumption.
At press time, XCH was trading at $31.80, up by 0.94% on the day but down by 6.71% in the last seven days, as per CoinMarketCap data.
VeChain is working on green initiatives to drive, among other things, more stakeholder involvement through projects like the one signed with the government of San Marino or delivering the future of safe and traceable food.
The current estimation models by the project see VeChain generating 4.58 metric tons of carbon emissions, equaling emissions generated for mining a single BTC.
At press time, VET was trading at $0.002289, up by 1.49% on the day but down by 2.95% in the last seven days, as per CoinMarketCap data.
Bridging the gap between green investments and crypto could be one of the avenues crypto investors take. The above three projects represent the ones that either reduce or will produce the least CO2 output and could provide a better future for crypto enthusiasts and the planet in general.
Buy stocks now with Interactive Brokers – the most advanced investment platform
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Join us on Twitter or Telegram
Or follow us on Flipboard 
Like the article? Vote up or share on your social media
Weekly Finance Digest
Check your inbox or spam folder to confirm your subscription.
By subscribing you agree with Finbold T&C’s
Dino is an investor and technology enthusiast with years of experience in managing complex projects. At Finbold he covers stories on stocks, investing, micro and macroeconomic trends. Also, he’s also building a micro solar power plants in his hometown.
Copyright © 2019-2022
Finbold.com
Weekly Finance Digest
Check your inbox or spam folder to confirm your subscription.
By subscribing you agree with Finbold T&C’s
DISCLAIMER WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.
Or copy link
