The advent of Blockchain technology has changed the face of most of the industries, and it has also produced a direct impact on the carbon footprint and energy consumption. Bitcoin and Ethereum Blockchains are guzzling energy with the very high speed. It is an undeniable fact that total energy consumed by Blockchain is equivalent to the total energy consumed by Ireland. The usage of cryptocurrencies are increasing exponentially and there is no sign of going down, however, to support such a huge number of transactions on the blockchain, it hard to imagine that more power grids are required.
Credit: https://www.dentons.com/en/insights/newsletters/climate-change-newsletter
One side we tout about blockchain and on the other side, we have energy issues to make it alive. Companies are establishing the green energy resources to support this cause, however, none is working on the root cause. Moreover, to bring green energy to power mining rigs require multiple contractual agreements with producer, consumers and government entities, which itself is a mammoth task.
Blockchain companies such as Ethereum, EOS, and ADA are working on introducing a new protocol such as DPOS and POS, which can reduce energy consumption, but it can also pose a danger to security.
There is no doubt that blockchain technology is at the very initial stage, hundreds of scientists are working on improving the current situation, Bither is one such blockchain based company who has already found the solution without compromising the security issues. Bither Platform was designed to reduce the number of computational resources required to secure the network. The three-layer solution, multi-mining capabilities, and optimizing the energy consumptions are the breathtaking features of Bither.
Bither had understood the real world problem and provided with a solution by using existing POW algorithm. One of the main issue with existing POW is hashing power, if the miner has more resources, they can mine more coins, on another side, and the hash power used by other miners whose block did not move to blockchain is getting wasted. Bither platform has realized this mining centralization issue and provided an innovative solution to distribute the hashing power to solve the problem of ASCIs.
Bither Platform presented various for executing smart contracts, computing power required by scientific projects and creation of second and third layer to categorize activities of the token. Underneath are few advantages of Bither Platform:
- Multi-mining facilities to reduce electricity consumptions.
- A functionality to create side chain for the new projects on Bither platform.
- Transactions details will be recorded on the side chain instead of the main chain to reduce the load on the main net.
- Computing power can be rented to scientific projects which are not possible to run on the home and test network.
- Availability to set up a decentralized exchange on bither platform.
- Customized standards can be created on Bither platform to prevent the fraud.
To recapitulate, Bither platform is providing all innovative solutions for the existing issues in the Blockchain space. Nevertheless, Bither is also going one step ahead to produce the place which will be eco-friendly and give importance the sustainability.