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Cryptocurrency is trending worldwide. It seems like ages when only a select range of investors was keen on investing in Cryptocurrencies. Many businesses have created their currencies, which are referred to as tokens, which can be exchanged for the goods or services that the firm offers in exchange for the tokens. A major reason for cryptocurrency guzzling energy is the way their blockchain is secured. When secured with proof-of-work, a lot of computing power is expended in maintaining the integrity of the decentralized blockchain technology. The environmental impact of crypto activity will be one of the key factors to be tracked this year. This article features the top 10 energy efficient cryptocurrencies to buy and begin your 2022 effectively.
Solana's blockchain claims fast transaction speed and the ability to integrate with tokens from other networks. These attributes are seen to be well-suited for high-throughput decentralized finance (DeFi) solutions. It uses far less processing power than Ethereum at present, by using its eco-friendly combination of proof-of-stake (PoS) and proof-of-history (PoH) to secure its blockchain.
Terra, the promoter of the LUNA token, says this blockchain intends to create a better digital financial system. LUNA allows for smart contracts and DApps built on top of the Terra network, including Defi protocols such as Anchor and Mirror.
SolarCoin is global, decentralized, and independent of any government. You can spend and trade SolarCoin just like other cryptocurrencies, but the key difference is that the platform aims to incentivize real-world environmental activity: verifiably produced solar energy.
Stellar represents everything good about the development of financially focused blockchain technology. With the existing payment infrastructure, it can take up to a week for a cross-border payment to validate and settle. Something else that gave Stellar its vast popularity over its other payment network rivals is its low cost to complete these transactions and exceptional speed.
AVAX is the native token of the Avalanche blockchain, and is seen as a rival of Ethereum — often referred to as an 'Ethereum Killer' within the crypto community. Avalanche supports smart contracts for an ecosystem of DApps and DeFi.
Algorand unique blockchain consensus mechanism is an improvement over traditional proof of stake. This mechanism is known as pure proof-of-stake, can secretly and randomly select small groups of ALGO holders to vote on proposals and propose blocks. With this randomization in place, Algorand's developers have effectively eliminated the possibility of small groups of holders possibly disrupting the market.
Flow is both a PoS blockchain that is fast, decentralized, and highly usable and the cryptocurrency native to the Flow network. It is designed for building games, apps, NFTs, and other internet-scale protocols and applications that need low-latency (i.e., very fast processing times) and high-throughput (i.e., a lot of transactions happening very rapidly across millions of users).
Celo is a blockchain ecosystem focused on increasing cryptocurrency adoption among smartphone users. By using phone numbers as public keys, Celo hopes to introduce the world's billions of smartphone owners, including those without banking access, to transacting in cryptocurrency. The network also allows for the creation of smart contracts and decentralized applications (DApps) as part of decentralized finance (Defi). Its main net was launched in April 2020.
Introduced in 2017 by a team with experience in cloud computing, GoChain is a network that was scalable without being energy-intensive. It processes transactions in 3-5 seconds, can handle 1300 transactions per second, and has an average fee of $0.01 at the time of writing. GO is the native token on the network and is required for every transaction sent to the GoChain.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. The core component of this crypto is the Polygon SDK that is a modular, flexible framework that supports building multiple types of application on it. Polygon's MATIC essentially sits as a layer on top of Ethereum, to reduce transaction costs and congestion. It went on to enable decentralized applications (DApps) that communicate across blockchains and offer decentralized finance (DeFi) services.
