HomeCoinsBitcoin (BTC)Cryptocurrency Likely to Be More Environmentally Friendly Than Traditional Banks – Press...

Cryptocurrency Likely to Be More Environmentally Friendly Than Traditional Banks – Press release Bitcoin News

- Advertisement -


PRESS RELEASE. Leading Crypto service comparison site – Cryptowisser deep dives into the environmental future of cryptocurrency. Despite major scrutiny from traditional media and press, cryptocurrency possibly remains more environmentally friendly than traditional banks, just no one is reporting it.

Crypto community anticipates a green future.

With the crypto world under constant scrutiny from a variety of sources, the last thing they need are accusations for ruining the earth. While mining bitcoin is very energy intensive, the crypto community are constantly working to improve their carbon footprint.

As far as environmental revelations are concerned, the future seems to lie in the use of Proof of Stakes systems Vs Proof of Work. Although several coins have already migrated over from Proof of Work systems, many still exist.

The Cryptowisser report details how Proof of Work systems and specifically their security measures require an astronomical amount of energy. The principles of a PoW system require individuals to manage the process of recording transactions and verifying data stored in the block chain, which in turn requires crypto mining and requires a lot of computing hardware.

Proof of Systems on the other hand maintain their transactions with multiple holders, which are called validators, and with this Proof of systems protocol, each user creates a node, and each node does not require additional energy to prove the credibility of the node, as opposed to Proof of Work systems.

The report also explains the lack of scrutiny in many “traditional” industries, including banks. While it is indeed true that the crypto industry needs to reassess their environmental impact, it could be argued that they are the only financial vertical to receive such speculation, while traditional banks, who consume an incredible amount of energy go unscathed.

Cryptowisser is a cryptocurrency services comparison site with the world’s largest, most frequently updated and most trusted lists of cryptocurrency exchanges, news, wallets, debit cards and merchants. With more than 1,000 reviews of the various exchanges, debit cards, wallets and merchants, they help you make all of your purchasing decisions and service choices in the crypto world.

For more information please contact [email protected]

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons





Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,546FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 55,071.00
ethereum
Ethereum (ETH) $ 4,361.88
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 549.64
litecoin
Litecoin (LTC) $ 194.52
eos
EOS (EOS) $ 3.90
okb
OKB (OKB) $ 25.97
tezos
Tezos (XTZ) $ 5.05
leo-token
LEO Token (LEO) $ 3.52
cardano
Cardano (ADA) $ 1.60
monero
Monero (XMR) $ 229.91
stellar
Stellar (XLM) $ 0.343411
chainlink
Chainlink (LINK) $ 24.17
huobi-token
Huobi Token (HT) $ 9.57
tron
TRON (TRX) $ 0.098466
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 173.43
neo
NEO (NEO) $ 36.11
iota
IOTA (MIOTA) $ 1.44
nem
NEM (XEM) $ 0.16597
zcash
Zcash (ZEC) $ 220.77
maker
Maker (MKR) $ 2,818.39
paxos-standard
Pax Dollar (USDP) $ 0.994877
ethereum-classic
Ethereum Classic (ETC) $ 45.85
vechain
VeChain (VET) $ 0.112581
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 47.83
kucoin-shares
KuCoin Token (KCS) $ 24.34
waves
Waves (WAVES) $ 21.01