Due to the soaring temperatures in Texas, cryptocurrency mining was forced to temporarily stop last month. Due to the cheap energy bills in Texas, crypto-miners are drawn to the state, however, this increased usage places a strain on the power grid. Cryptocurrency mining requires about 6GW of electricity by 2023, which is around the same amount as its largest city Houston. A majority of these operations were asked to temporarily shut down due to the rising temperatures across the city as authorities were concerned about the power grid's ability to cope with the pressure.
The pause in crypto mining has led people to revisit the topic of crypto's environmental impact. Due to their huge energy use, they are often powered by fossil fuels and have carbon footprints bigger than some countries! Solana (SOL) is one coin making an active effort to reduce its environmental impact. Built on the Solana blockchain, Mehracki (MKI) is affected by the work of Solana. So, what are these two coins doing to tackle climate change?
Cryptocurrency mining is the method that 'mints' a new coin. A large computer is set to solve a complex mathematical puzzle to generate a new coin. As the blockchain grows these puzzles become increasingly more complicated so that more computer power and energy is needed. Bitcoin and Ethereum are the top two coins requiring the most energy to run. Putting this into perspective, Bitcoin uses more energy than 159 countries, creating a huge carbon footprint.
Unlike other cryptocurrencies, Solana (SOL) has made an active effort to tackle the the detrimental impact that crypto mining has on the environment. In 2021, Solana (SOL) announced that it was carbon neutral and was aiming to remain that way throughout 2022, a feat that (so far) it has achieved through a variety of different methods.
'Proof of Stake' mining removes the need of energy to validate transactions. As well as being more efficient and secure, this greatly reduces its energy consumption and consequently, its environmental impact. Solana implemented this technique and became so energy efficient, it takes more energy to make two Google searches than one transaction on Solana.
Furthermore, Solana (SOL) financially assists with the destruction of HFP and CFC refrigerants. These pollutants are over 10,000 more damaging than CO2, making their destruction essential for climate consciousness. Green America listed this process as one of the most effective ways to reduce emissions.
New coin Mehracki is built on the Solana blockchain. As a result, Mehracki will feel the direct impact of Solana's environmentalism. Mehracki (MKI) has real world applications in the hospitality industry, a huge area needing climate conscious change. If carbon neutral transactions can be made as payments in this industry, a huge quantity of energy consumption will be reduced. With more coins adopting a climate conscious mindset, crypto can move towards an environmental future.
Mehracki Token (MKI)
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