Meta Description: Energy consumption is now a big issue, so take a look at the best eco-friendly cryptos to invest in this year!
Global warming has a huge effect on our planet, and it is already showing in the form of increased levels of carbon dioxide, decreased agricultural yields, and rising ocean levels. It is now necessary to become conscious and proactive in every sphere of our lives, and it is slowly affecting the crypto market too. People have realized that cryptocurrencies use a vast amount of energy and that there are ways to reduce it. This is why we have made this guide, and we will make sure to provide information about the best eco-friendly cryptos to keep your eye on this year.
As we mentioned before, awareness of the importance of preserving nature and using less energy is the key to being proactive and doing everything we can to help our planet. We have seen the impact that Bitcoin mining had, and some experts even say that the electricity used for mining Bitcoin for one year could be used to boil water for all the tea prepared in the UK for the span of 30 years. This says volumes about energy consumption then must be reduced, and there are many positive steps taken toward changing the situation for the better. Here are six eco-friendly cryptos to pay attention to this year:
We'll make sure to include all the most important information regarding each one of these cryptos so you can get a better idea of how they work!
IMPT.io is the platform that will soon introduce its native token called IMPT. The presale will be launched on October 1st, and it is a chance for all the investors out there who wish to do something about environmental protection to connect the best from both worlds: invest in cryptocurrency and do something about energy efficiency at the same time. This platform is a way to connect socially responsible brands with individuals who strive to decrease their carbon footprint.
IMPT is based on the blockchain, and it will enable the investors to buy and sell but also retire carbon credits and avoid double counting and any type of fraud at the same time. Carbon credits are minted as NFTs, which will help with the prevention of any possibility of misuse. On the other hand, the fact that blockchain is used ensures a transparent ecosystem that deals with environmental challenges in an effective way.
TAMA is a token on the Ethereum blockchain that raised a lot of dust with its incredibly successful presale that is now done. Considering that Ethereum Merge occurred and is now finished, its effect is enormous on Tamadoge too. Tamadoge is an interesting ecosystem for other reasons, too – it combines the NFTs, which are pets on this platform, a play-to-earn system, and cryptocurrencies. It is an ideal blend of all the elements that the players and future investors want to see.
There is also the element of the metaverse, known as Tamaverse, on this platform that will give the players a chance to explore this world deeper and earn while doing it. There is currently a $100k giveaway of TAMA. In addition, it is expected that TAMA will be listed on OKX on Tuesday, September 27th, so there are lots of exciting things to look for, and we will surely find out lots of novelties in the days to come!
Battle Infinity is a very interesting platform because it is very attractive for players who enjoy fantasy sports but also want to feel the flavor of the crypto market. IBAT is a token that runs on the Binance Smart chain (proof of staked authority – PoSA). PoSA consensus agreement protocol is eco-friendly, and it consumes less than 1% of Terawatts per hour per year of Bitcoin. Battle Infinity is also interesting because of the fact that it combines metaverse, NFTs, and many other elements.
There are Battle Infinity products that make this platform quite complex and interesting, and those are Battle Swap, Battle Market, Battle Games, Battle Arena, Battle Staking, and IBAT Premier League, which means that there are plenty of things to look forward to when you decide to invest. By having the option of staking now, it is again in the focus of all the investors out there who want to immerse in a very exciting experience.
Tezos was launched back in 2018, and it was among the first proof-of-stake blockchains that appeared on the market. Its energy efficiency revolves around the fact that there is no need for upgrades since it is self-upgradable. It has been considered energy friendly for years, and it is just proving this fact again and again.
During the last year, the transactions required 30% more electricity than the year before, which only shows how determined the team behind Tezos is to reduce energy consumption to the greatest possible extent. In addition, Tezos aims to make it easier for the developers the creation of products and tools, but there are also many things that new users can look forward to, such as gaming, DeFi, NFTs, and much more.
Solana is also one of the eco-friendly cryptocurrencies that strive to improve its services in every way possible. It is a smart contract-enabled blockchain that is often chosen by the developers when making dApps (decentralized applications), but also NFTs. One transaction requires 3,290 Joules which is less than the electricity used for a few Google searches.
Besides, its partner is Watershed Climate which is important because Solana funds refrigerant destruction, and that way, it offsets its emissions. These efforts are making Solana carbon neutral, and the team behind it wants to keep it that way for the foreseeable future.
Ethereum is now in the middle of all the conversations regarding cryptocurrency since its long-awaited Merge happened. Before it, Ethereum used a PoW (proof of work) consensus mechanism, which used lots of energy. Now, with the Merge, Ethereum uses a PoS (proof of stake) consensus mechanism, which uses more than 99% less energy.
It is evident that Ethereum is now fully focused on being sustainable, and some even call it a green blockchain now. The investors can count on the possibility of generating a yield by staking. In addition, at some point next year, the team behind Ethereum plans to initiate sharding, which will improve the network by increasing its accessibility and efficiency.
There is no doubt that this is quite an interesting period for the crypto market, and there are lots of things to look forward to. We can also say that we are witnessing historical changes in the market that will do a lot to preserve our planet to the greatest extent. We hope that our guide will help you decide where your attention should go and that it wouldn't be too difficult for you to choose the cryptocurrency to invest in and be a part of the change!
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.