Saving the Planet, One EcoBitcoin at a Time

Environmentally Friendly Bitcoin Eco [BTCE] and Other Green Crypto

Environmentally Friendly Bitcoin Eco [BTCE] and Other Green Crypto

When we talk about crypto currency like Bitcoin, Ethereum or Litecoin, the conversation always tends to gear towards the obvious positives. They’re valuable, indeed, and transfers are supremely faster and cheaper than fiat currency. Even the negatives follow a narrow path of communicable information. You cannot physically hold them, and historical security breaches have been problematic. It’s all public knowledge.

There’s one thing that people don’t talk about very often, and it’s perhaps the number one issue facing crypto coins today. It takes an incredible amount of energy to mine them. Mining is necessary to record transactions on a blockchain in which protocols like proof-of-work are required. Unless the individuals mining crypto are powering their systems with a sustainable energy source, such as solar panels or wind turbines, it’s not exactly what you would call an environmentally friendly process.

That’s where eco-friendly crypto currencies, like the new ECO Bitcoin [BTCE], come in.

Is Bitcoin Destroying the Planet?

No one thought much about the impact of crypto currency on the environment until Tesla CEO Elon Musk brought the world’s attention into keen focus. It happened in May of 2021, when Musk Tweeted that his company would no longer accept Bitcoin payments due to concerns about its impact on the environment.

“…We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the environment…”

Elon Musk @elonmusk

He followed that tweet with an infographic detailing annualised Bitcoin electricity consumption, in which the estimated consumption of 148.77 TWh was crushed by an actual consumption rate of 511.75 TWh.

How Does Mining Consume So Much Energy?

Bitcoin and analogous crypto tokens are created by a process known as mining. Mining takes place when high-power computers compete to solve complex puzzles. The systems that solve the puzzle first get a reward. With a lofty investment, miners can set up multiple computer systems to do the work in the background, with little or no attention from the individual.

As ingenious as that sounds, it comes at the great cost of an incredibly energy-intensive process. At the moment, the vast majority of electricity used to mine BTC comes from the use of fossil fuels. According to data from University of Cambridge and the International Energy Agency, Bitcoin mining consumes just as much energy per year as the entire country of The Netherlands consumed in 2019.

To make matters worse, China is home to the majority of crypto mining hubs. It accounts for approximately 70% of all Bitcoin production. China has displayed little motivation to transition from cheap fossil fuels like coal, to renewable energy sources. It’s true that fiat financial institutions also use a great deal of energy. However, environmentally conscious forward-thinkers like Elon Musk believe it’s time to focus on sustainable energy, for a sustainable future.

Eco-Friendly ‘Green’ Crypto Currencies

There are a number of crypto tokens that require a bare minimum amount of energy consumption. It’s not because their value or transaction rate is so low, either. At a fraction of the value, Dogecoin is more environmentally friendly than Bitcoin. However, it is still involves energy-intensive computation to mine.

The good news is that there are some digital assets that really are more energy efficient. One of them is the popular crypto known as Ripple [XRP]. In terms of energy consumption, XRP consumes just 0.0079 kWh. In comparison, Dogecoin [DOGE] consumes 0.12 kWh, Litecoin [LTC] 18.522 kWh, Ethereum [ETH] 62.56 kWh, and Bitcoin [BTC] 707 kWh.

Of all the digital assets accepted by reputable crypto casinos, XRP is the most energy efficient to date. According to our extensive, hands-on research, iGamers can currently deposit in XRP at Canada’s Wild Tornado and TrueFlip Casino.

ECO Bitcoin [BTCE] – The New and Improved BTC

One of the most energy efficient cryptos of all is the new BitcoinEco [BTCE]. It’s a self-mining crypto minted on proof-of-stake and proof-of-time protocols. Hence, there’s no expensive mining hardware necessary to mint it. Workers stake ETH or BNB to secure minting contracts, then must hold the transacting coins for a specific period of time (generally 12 hours) to earn the reward. Once time lapse is complete, automatic reward generation (ARG) occurs.

The current BTCE minting reward rate is: 0.002 BTCE awarded every 12 hours per 1.0 BTCE held.

You can learn more about the famously green crypto, BitcoinEco, here:

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George Thomson is a Bitcoin enthusiast and all around crypto currency nerd... When he's not busy researching crypto, he likes hiking the national parks of British Columbia . He lives in an eco-friendly home with his wife Jana and their two daughters, Sandra and Rose. His favorite word is "sustainability".
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