Skip to main content

Cryptowisser: Top 100 Crypto Coins Ranked by Carbon Footprint – Algorand Leads the Way

https://motleybloggers.com/wp-content/uploads/2022/02/cryptowisser-top-100-crypto-coins-ranked-by-carbon-footprint-algorand-leads-the-way.jpg

PRESS RELEASE. February 2022: Leading Crypto service comparison site Cryptowisser, announces its Crypto Carbon Footprint list. The list ranks how sustainable the top 100 cryptocurrencies are and is based on the research of a Swedish team of sustainability experts.


The list ranks each coin of how a typical transaction affects the environment through its carbon footprint. The list uses a color scheme to display different levels of energy efficiency and carbon footprint, with dark green being the cleanest by carbon neutral or negative, and medium green being equivalent to a VISA transaction.


“We are excited to release the world’s first comprehensive ranking of carbon footprints of Cryptos and we hope to give more clarity in the market regarding how green different cryptos are. Based on our research, we can also give a positive outlook for the sustainability of Crypto”


Richard Ramberg, CEO of Dgtl Assets Group AB


How Does Crypto Have a Carbon Footprint?


The carbon footprint of cryptocurrency is based on the energy consumption from the daily operations, for example the process of mining or running of nodes in combination with how clean the energy is. Miners powered by renewables or based in a clean electricity grid will have a significantly lower carbon footprint than if powered by fossil fuels.


How many Cryptocurrencies are carbon neutral or negative?


According to the list, 12 of the cryptocurrencies are self-defined as carbon neutral or negative with Algorand taking the top spot as the greenest cryptocurrency on the market.


The vast majority of the coins have been ranked in the Light Green category, which means that most of the top 100 cryptocurrencies do have a relatively low carbon footprint.


From the data found, there are only a minority of coins that have a high carbon footprint, a positive outlook for the sustainable future of crypto, further reinforced by the current trend of even greener cryptos.


Proof of Stake or Proof of Work?


The energy consumption of the Cryptos depends primarily on the mechanism/consensus algorithm used for a block of transactions to be added to a Cryptocurrency’s digital ledger, so called blockchain, in combination with the energy efficiency of the equipment that is performing the algorithms.


The most common types are either Proof of Work (PoW) or Proof of Stake (PoS), while they have similarities, they differ in how they execute a transaction, where typically a Proof of Work transaction consumes about 1000 times the energy compared to a Proof of Stake transaction. As shown in the list, the coins associated with Proof of Stake occupy the top of the list being more carbon friendly, while most Proof of Work coins are less carbon friendly, but exceptions do exist.


Concluding Remarks


A carbon neutral or negative crypto world does not seem unachievable at all, even if the process of third party verification and “Proof of Green” need to accelerate. Most cryptocurrency transactions are similar to a VISA transaction in terms of carbon emissions; however, the two top cryptocurrencies (BTC and ETH) do have work to do to become more energy efficient and sustainable.


For more information, please contact press@cryptowisser.com


Cryptowisser is a cryptocurrency services comparison site with the world’s largest, most frequently updated and most trusted lists of cryptocurrency exchanges, wallets, debit cards and merchants with more than 1000 reviews. We help you make all your purchasing decisions and service choices in the crypto world.


 


 



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. MotleyBloggers.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.



Origina post from
https://motleybloggers.com/cryptowisser-top-100-crypto-coins-ranked-by-carbon-footprint-algorand-leads-the-way/

Comments

Post a Comment

Popular posts from this blog

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians

http://motleybloggers.com/wp-content/uploads/2022/12/research-shows-centralized-exchanges-saw-the-most-visits-this-year-from-americans-koreans-russians.jpg Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes after the spectacular crash of FTX, one of the largest such platforms, amid tightening regulations and fewer new users. U.S. Leads by Number of CEX Users, Turkey and Japan Are Also in the Top in Terms of Traffic The U.S., South Korea and Russia together account for 22% of all visits to centralized exchanges (CEX) for cryptocurrencies, according to the 2022-2023 “Global Crypto Industry Overview and Trends” annual report produced by Huobi Research. The estimate is based on data from the top 100 CEXs on active users, trading depth, trading volume, and reliability. With a share exceeding 9%, the United States is the pronounced leader in terms...
Post a Comment
Read more

Kevin O’Leary Tells US Lawmakers FTX Failed Because Binance Intentionally Killed It

http://motleybloggers.com/wp-content/uploads/2022/12/kevin-oleary-tells-us-lawmakers-ftx-failed-because-binance-intentionally-killed-it.jpg Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has told U.S. Congress that he believes the collapsed crypto exchange FTX failed because rival Binance intentionally put it out of business. He said former FTX CEO Sam Bankman-Fried (SBF) told him that Binance, which owned a 20% equity stake in FTX, refused to comply with regulators’ requests whenever FTX applied for a license in different jurisdictions. Kevin O’Leary Shares Why He Thinks FTX Failed With U.S. Senators Shark Tank star Kevin O’Leary shared why he thinks crypto exchange FTX collapsed in a congressional hearing, titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers,” before the Senate Committee on Banking, Housing, and Urban Affairs on Wednesday. Senator Pat Toomey (R-PA) asked O’Leary, “Why do you believe FTX failed?...
Post a Comment
Read more

Cardano MACRO REVERSAL Draws Near | XRP Prediction (Watch CLOSELY!)

http://img.youtube.com/vi/TWi-b9uRBdo/0.jpg https://www.youtube.com/watch?v=TWi-b9uRBdo Rumors swirl surrounding thr Ripple SEC case and xrp predictions also come into play. Cardano has been in a massive downtrend on the ADA charts, and momentum as it applies to physics might be the best picture we have into what is in store for ADA price. JOIN Crypto Capital Venture EXCLUSIVE Content ⚡⚡https://cryptocapitalventure.substack.com⚡⚡ 🟩 Bitcoin 4 Year Cycle Prediction - This May Change Your Mind On BTC https://youtu.be/IsKI359lAbQ Get Great Deal On TradingView subscription (the charts I use) USE MY LINK! - https://www.tradingview.com/?aff_id=114269 Follow me on my new Instagram ➡️ https://instagram.com/theofficialccv ⚡ Catch Me On Twitter ⚡ http://twitter.com/cryptorecruitr ⬇How To Stake Your Cardano In Minutes With Crypto Capital Venture!⬇ Stake Your ADA With Ticker: CCV1 ➡ https://youtu.be/cikJiJgRZFQ Crypto Cap...
Post a Comment
Read more