WHY CARDANO ADA WILL 10X | The Ethereum Killer Cryptocurrency Crypto (NEW INFORMATION)
Bitcoin is currently in the news, not for its financial volatility but because of the perceived environmental damage of the cryptocurrency. The idea was to create ecologically sustainable Bitcoin mining as well as blockchain validation processes. This led to an enormous demand wave of “green cryptos,” with investors attempting to pick up the next great altcoin, which could usurp Bitcoin’s throne and be the crypto next king.
Some ESG-focused investors (environmental, social and governance) believe Bitcoin contributes to global warming”.There is still a lot of electricity used by computers in Bitcoin mining and is produced from combustible sources like coal and natural gas. ESG investors seem to have influenced Musk to cease accepting Bitcoin as a Tesla vehicle payment. Note that Bitcoin mining is not green by itself. Crypto miners of Bitcoin or Ethereum using coal-based energy or gas might be non-green. But renewable green crypts are those when Bitcoin or Ethereum is mined from solar, geothermal, wind, hydropower, or battery sources.
However, the reality that cryptocurrencies using mining are highly energy-intensive “proof-of-work,” no matter where this energy comes from, is not avoided. As professor James Angel of Georgetown University’s associate, says InvestorPlace: “Bitcoin has a highly wasteful ‘proof of work’ algorithm which now consumes the equivalent of 15 nuclear power stations in Chernobyl running around the clock. An increased price of bitcoin leads to more mining and hence more use of electricity. And the capability of bitcoin is limited to seven transactions per second by design.
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