Here's How to Tell if a Cryptocurrency Is Environmentally Friendly or Not – LA Weekly

4 Min Read

In the ever-evolving world of crypto, it can be difficult to understand how your market moves impact the environment. Our exciting technological age can relegate environmental considerations in the background if we are not careful. To maintain our collective goals for environmental responsibility, we must match our technological aspirations with today’s ecological demands. One of the best ways is to determine whether the cryptocurrency you are considering is environmentally friendly. Let’s examine this topic more and explore the best technical ways to differentiate eco-crypto options from metaphorical gas guzzlers. As environmental concerns continue to rise steeply each year, so does the popularity of cryptocurrency. To balance these prerogatives and accommodate every achievable objective, you must consider which type of cryptocurrency coin you are investing in and its inherent environmental implications. Fortunately, there are various ways to determine whether or not a cryptocurrency’s carbon footprint aligns with your goals of environmental stewardship. One of the best ways to ascertain the eco-friendliness you are dealing with is to check the electricity consumption of each blockchain node per year. A cryptocurrency notorious for performing well in this aspect is Cardano. That factor contributed to its influx of popularity in the recent past, showing that environmental considerations are potentially impacting the market, leading to a direct increase in value. You can also look at the total annual electricity usage across all nodes, leading you to popular cryptocurrency coins like Polkadot. Looking at the big picture can help you identify the cryptocurrencies that are watching their carbon footprint and choose them over those making false claims about energy consumption. A watt-hour per transaction calculation nice and low is more beneficial to the planet. If you seek digital assets regarding this aspect, you will likely check the price of Solana. From a technical standpoint, observing whether the crypto token you are looking at runs on a PoS blockchain like IMPT, IBAT, TAMA, or XTZ may be helpful. Last but not least, noting which companies the cryptocurrency is affiliated with can shine a light on their environmental condition. Consider C+ Charge’s partnership with Flowcarbon. Collaborative efforts like this can only lead to more innovative developments in the sector—many crypto projects and foundations are specifically involved in environmental measures such as climate change and deforestation. If you find a cryptocurrency that aligns with your values and caters to your preferred environmental niche, you can stick with your favorite and navigate the market together, simultaneously making financial and environmental strides. Making a positive impact while investing in a cryptocurrency you find especially valuable can amplify your determination in the marketplace, pushing you to reach your financial goals. To learn more about the most environmentally conscious cryptocurrencies available today, check out this article on the 7 top environmentally responsible cryptocurrencies on Nebeus. Advertising disclosure: We may receive compensation for some of the links in our stories. Thank you for supporting LA Weekly and our advertisers.

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