With thousands of cryptocurrency tokens being released each year, we take a look at energy consumption of Bitcoin, it´s child chains and Bitcoin mining. Bitcoin’s energy usage is huge.
‘The cryptocurrency uses as much CO2 a month as 1m transatlantic flights. We need to take it seriously as a climate threat.’
‘In 2020 Bitcoin will consume more power than the world does today.’
NXT Studios launched a small media campaign with a massive impact:
Join The Conservation
Energy efficiency is one of the world´s most important challenges and Carboncoin is focusing on a 99.9% less energy usage than the current Bitcoin technology. Analysts claim that Bitcoin consumes more power than all these countries. One solution that is gaining notoriety and support is Carboncoin.
What is CarbonCoin?
The idea is very simple: All of the benefits of a financial system that is independent of any political governance, but without the energy consumption of Bitcoin and with a direct and increasing flow of funds to environmental conservation — supporting Mother Nature and helping to reduce the damaging impact we continue to have on the planet, by doing things that are absolutely good for it.
Main Objectives of Carbon Coin
To be the energy efficient alternative to Bitcoin, securing the technology at low hashrates having removed the built-in incentive for competitive energy consumption.
Grow the user base and encourage use of the coin for payments.
To keep an amount of coins we call our environmental wallet to one side to be released when they can have as beneficial an impact as possible, to be used for environmental projects, our core environmental project is biodiverse forestry.
To our best efforts to only make software developments that lead to network functionality that has positive environmental impact.
Benefits of the current CarbonCoin network
The current system has a distributed and expanding ledger, which runs on a very small amount of energy for transaction processing. Based on the Bitcoin protocol, Carboncoin has eliminated mining for profit — the aspect of cryptocurrencies responsible for harming the environment, through wastage of electricity.
High transaction volume: The current Carboncoin network can accommodate 4x the transaction volume of legacy Bitcoin.
Energy: Low on energy Carboncoin uses the electricity of only few lightbulbs, instead of whole countries.
Trees: Carboncoin will fund the planting of millions of trees worldwide just by people using it.
Term: Long term, our environmental initiative looks out over a 150+ year timeframe. CarbonCoin intends to secure our environment for many future generations.
For more information visit the CarbonCoin Website
article: New York Times - There Is Nothing Virtual About Bitcoin’s Energy Appetite
Join the Conservation https://carboncoin.cc @TrueCarbonCoin / by #nxtstudios
#CARBON $CARBON #conservation #future #environment #blockchain #bitcoin #cryptocurrency