Digital currencies are generally known for their volatility and investment risks, but over the years, they have been under constant fire for their negative impact on the environment. Cryptocurrency mining requires an extensive amount of energy, and it leaves behind a large carbon footprint. Estimating the energy consumption required for crypto mining is a difficult task, but generally, the energy used to mine cryptos and the power usage by the hardware devices is taken into consideration to roughly draw out an estimation. However, the emergence of sustainable cryptocurrencies has made things easier. In this article, we talk about the top sustainable cryptocurrencies to invest in.
• Tron: Tron is a unique peer-to-peer platform and a public blockchain that allows users to share apps directly on the blockchain network. The whole process of transferring apps on this network requires very small amounts of energy compared to most other cryptocurrencies in the market. It is also one of the cheapest cryptos with high growth potentials in the market.
• SolarCoin: It is a global, decentralized cryptocurrency that aims to incentivize real-world environmental activity by producing solar energy. Crypto has a novel approach. The company creates 1 solar coin for every megawatt-hour generated from solar technology.
• Cardano: Cardano is one of the largest cryptocurrencies in the market and is more energy-efficient than Bitcoin. Its network uses the proof-of-stake consensus mechanism where those participating in the currency buy tokens to join the network. This, in turn, saves a significant amount of energy. The company claims that cardano only consumes 6 GWh of power.
• BitGreen: It is a community-driven initiative and a sustainable alternative to the proof-of-work consensus on which most of the cryptocurrencies are based. BitGreen mostly focuses on financial incentives that can drive policy change. It is also planning to launch its new mobile impact wallet, which has increased its market value.
• Devvio: Devvio is one of the first companies to focus on the development of large-scale enterprise blockchain applications that can be deployed globally. The company claims that the network can process eight million transactions per second. Its innovative blockchain solution also advances sustainable approaches.
• Stellar: Crypto traders investing in stellar can exchange US dollars, bitcoin, Pesos, Yen, and pretty much any traditional crypto or currency. Transactions are carried out on its distributed ledger at a fraction of a cent and with great efficiency, which enables a lower carbon footprint.
• Hedera Hashgraph: Recently, hashgraph is gaining rapid popularity among investors. In fact, it has also passed ethereum in the number of trades. Even though the technology behind this crypto is complex, but it uses the proof-of-stake token, which makes it more sustainable than many other big cryptocurrencies.
• IOTA: Even though IOTA might not be as profitable as an altcoin compared to others on the crypto exchanges, but it remains one of the best when it comes to sustainability. The network uses the probabilistic consensus technology with the proof-of-work concept that makes it efficient when it comes to energy consumption.
• Nano: Nano takes a unique approach to blockchain technology and creates an account chain for each of the users on the network where they can choose representatives to carry out their transactions successfully. Its energy consumption is also considered to be one of the lightest.
• Ripple: Ripple or XRP is another one of the largest cryptocurrencies globally. Using the RPCA algorithm, the crypto can carry out 1500 transactions per second, without consuming high amounts of energy.
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