Place/Date: - May 25th, 2023 at 9:41 am UTC · 4 min read
In recent years, the meteoric rise of cryptocurrencies has captivated investors and individuals seeking financial independence. Yet, amidst the frenzy, a disconcerting reality looms large: the significant environmental impact of these digital assets. The immense energy consumption and carbon footprint associated with cryptocurrency mining and transactions have sparked concerns among environmentalists and policymakers alike.
Fortunately, there is some attempt within cryptocurrency to shift towards a greener production. New presale crypto coins such as DogeMiyagi (MIYAGI), Chimpanzee (CHIMPZ) and Ecoterra (ECOTERRA) are part of what some might consider one of the greenest presales in recent crypto history.
At the heart of the environmental issue lies the energy-intensive process of cryptocurrency mining. This process demands substantial computational power, leading to a race among miners to solve these puzzles, resulting in an ever-increasing consumption of electricity.
The energy requirements for cryptocurrency mining are staggering. According to some estimates, Bitcoin’s annual energy consumption rivals that of entire countries, with carbon emissions to match. The majority of mining operations rely on fossil fuel-powered electricity, contributing to greenhouse gas emissions and exacerbating climate change. Furthermore, the demand for energy-intensive mining hardware has led to a surge in electronic waste, as outdated equipment is quickly discarded.
Cryptocurrency transactions also incur their own environmental costs.
Each transaction involves a network of computers validating and recording the transaction on a blockchain. This process consumes significant energy, especially in the case of high-volume networks like Bitcoin. As the popularity of cryptocurrencies grows and transaction volumes surge, so does the strain on the environment.
The environmental concerns surrounding cryptocurrencies have not gone unnoticed. In response, alternative consensus mechanisms such as Proof of Stake (PoS) are gaining traction. PoS requires users to hold a certain amount of coins in a wallet, allowing them to validate transactions and create new blocks without the energy-intensive mining process. Ethereum, the second-largest cryptocurrency by market capitalisation, has already begun transitioning to a PoS model, aiming to reduce its energy consumption by over 99%.
The Chimpanzee ecosystem is built from different features such as the Chimpzee shop, the NFT Marketplace and the Zero Tolerance Game. These components are integrated with each other. The shop works as the ecosystem’s central commerce centre, where CHIMPZ tokens can be used to purchase goods and commodities. The NFT marketplace allows passive income to be created through sharing a part of the trading fee profits with active trading users on the network.
The strong selling point of Chimpzee is that the profits it generates are directed towards efforts to tackle deforestation and climate change. It draws its story from chimpanzees finding their homes in forests and believes that the natural capital of the world must be protected. Chimpzee presents itself as the crypto to buy for investors with a greener conscience than your average person.
Another crypto that stakes its central mission on its commitment to being eco-friendly is Ecoterra. This is an eco-friendly crypto presale from which users can earn tokens as rewards for recycling household waste, such as plastic bottles. Tokens can then be sold on crypto exchanges or redirected towards the funding of other green projects.
DogeMiyagi is a new meme coin that has already established some credentials for being a green cryptocurrency by operating on the Ethereum blockchain.
Ethereum’s groundbreaking proof-of-stake consensus mechanism, which utilises ETH instead of energy, has propelled the platform to the forefront of the green blockchain movement. The minimal energy consumption makes Ethereum one of the greener pioneers in blockchain technology.
DogeMiyagi, a cryptocurrency debutant, draws inspiration from the widely acclaimed Karate Kid franchise as it sets its sights on dominating the market for meme coins. A key element of its expansion plan revolves around an impressive assortment of non-fungible tokens (NFTs). With an emphasis on exclusivity, the NFT platform aims to offer users an unparalleled experience, granting them access to a continually expanding array of advantages and features on DogeMiyagi’s platform.
Find out more about DogeMiyagi: Website, Twitter, Telegram.
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