{"id":248400,"date":"2021-05-13T07:02:47","date_gmt":"2021-05-13T04:02:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/"},"modified":"2021-05-13T07:02:47","modified_gmt":"2021-05-13T04:02:47","slug":"which-green-cryptocurrency-is-tesla-likely-to-add-for-payments","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/","title":{"rendered":"#Which &#039;green&#039; cryptocurrency is Tesla likely to add for payments?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a42d9b933e4a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a42d9b933e4a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/#Ethereum\" >Ethereum<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/#Ripple\" >Ripple<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/#Stellar\" >Stellar<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/#Algorand\" >Algorand<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\/#Dogecoin\" >Dogecoin<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Which &#039;green&#039; cryptocurrency is Tesla likely to add for payments?<\/strong>&#8221;<\/p>\n<p style=\"float:right;margin:0 0 10px 15px;width:240px\"><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNzc4ZGM2YTQtYzQ1MC00YmRmLTg3ZmQtNWYyYjUyNjk1NWM4LmpwZw==.jpg\" class=\"type:primaryImage\"><\/p>\n<pre><code>                Elon Musk revealed that Tesla will halt all BTC transactions due to environmental concerns, with the firm set to look at more energy-efficient cryptocurrencies.  \n                &lt;p&gt;On May 13, Elon Musk sent shockwaves across the crypto markets by revealing that Tesla will no longer accept any BTC payments for cars until Bitcoin mining becomes more environmentally sustainable. \n<\/code><\/pre>\n<p>Musk notes that while Tesla waits for Bitcoin to move to renewable energy, the firm will be looking at \u201cother cryptocurrencies\u201d that use less than 1% of Bitcoin\u2019s energy per transaction.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Tesla &amp; Bitcoin <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/YSswJmVZhP\">pic.twitter.com\/YSswJmVZhP<\/a><\/p>\n<p>&mdash; Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392602041025843203?ref_src=twsrc%5Etfw\">May 12, 2021<\/a><\/p><\/blockquote>\n<p>The tweet sent much of the crypto community into a frenzy of speculation as to what other crypto assets Tesla may be exploring.<\/p>\n<p>Social influencer \u201cThe Cryptic Poet,\u201d told his 45,000 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers that he predicts Tesla will \u201ceither use ETH or XRP,\u201d however user \u201cMassimo\u201d pointed out that if Tesla uses ETH in its current state \u2014 which uses Proof-of-Work just like Bitcoin does \u2014 it might as well be \u201cstaying with BTC.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">My prediction: Tesla will select either use ETH or XRP.<\/p>\n<p>&mdash; The Cryptic Poet (@1CrypticPoet) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/1CrypticPoet\/status\/1392616301571547136?ref_src=twsrc%5Etfw\">May 12, 2021<\/a><\/p><\/blockquote>\n<p>According to an analysis by TRG data centers, Bitcoin is estimated to average around 700 kilowatt-hours, or KWh, per transaction. While it uses around as much power each year as the Netherlands, it&#8217;s annual carbon footprint is closer to Singapore&#8217;s according to Digiconomist, presumably due to the use of cheap renewable power for a considerable proportion of mining. (Note: estimates of power consumption per transaction are controversial, so they are simply used here as a very rough comparative tool). <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ethereum\"><\/span>Ethereum<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ethereum <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.trgdatacenters.com\/most-environment-friendly-cryptocurrencies\/\">consumes<\/a> an estimated 62.56 KWh, per transaction. The Ethereum network is currently secured using the same energy-inefficient consensus method as Bitcoin \u2014 Proof-of-Work, or PoW. Digiconomist estimates the Ethereum\u2019s network\u2019s annual carbon footprint is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/digiconomist.net\/ethereum-energy-consumption\">comparable<\/a> to that of the country Sudan. <\/p>\n<p>However, these issues are set to be\u00a0 resolved with the network\u2019s forthcoming transition to ETH 2.0, which will introduce Proof-of-Stake, or PoS. According to Nimbus, PoS consensus is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/our.status.im\/ethereum-is-green\/\">estimated<\/a> to be 99% more energy-efficient than PoW. <\/p>\n<p>Earlier this month Rocket Pool contributor Joe Clapis proved the point by running <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/our.status.im\/ethereum-is-green\/\">10 Eth2 validators for 10 hours<\/a> on his front lawn using a power bank and a hard drive connected to a Raspberry Pi.<\/p>\n<p>But all Proof-of-Stake chains are arguably 99% more efficient than Bitcoin, so Tesla could pretty much choose any of them, from Solana to Cardano, and everything in between.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ripple\"><\/span>Ripple<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Ripple (XRP) could be Tesla\u2019s choice in the immediate term (depending on the SEC lawsuit), as all XRP tokens were pre-mined and XRP\u2019s transactions incur a tiny amount of energy of just 0.0079 KWh according to TRG data centers. Ripple regularly puts out blog posts and releases touting how energy efficient it is in comparison to Proof-of-Work blockchains.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Stellar\"><\/span>Stellar<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Stellar Lumens (XLM) also follows the model of XRP as all of its tokens were minted at genesis. The network also uses the Stellar Consensus Protocol, or SCP, to rely on for authentication of transactions which reportedly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.leafscore.com\/blog\/the-9-most-sustainable-cryptocurrencies-for-2021\/\">requires<\/a> less energy than the PoW and PoS stake models. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Algorand\"><\/span>Algorand<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Algorand could be a contender. Not only does it run on Pure Proof-of-Stake but the team <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.algorand.com\/resources\/news\/carbon_negative_announcement\">announced <\/a>its blockchain had become fully carbon-neutral on April 22. Algorand has also partnered with Spanish fin tech firm, ClimateTrade who are building a CO2 marketplace that enables companies to track their emissions in pursuit of broad sustainable goals. The firms will work together to implement a sustainability oracle to make the network carbon-negative. <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Dogecoin\"><\/span>Dogecoin<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Elon Musk\u2019s long-standing favorite Dogecoin could be the dark horse (dark dog?) in this race. The meme coin actually piggybacks much of its mining on the Litecoin network, which uses Proof of Work. But while Bitcoin mining employs the ultra-complex SHA-256 algorithm, Dogecoin and Litecoin are mined using <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cell.com\/joule\/pdfExtended\/S2542-4351(20)30331-7?fbclid=IwAR1awFsxXCX7vxRVliY_4aGbgOZWlbLC53JgXp9kyd1PBnouCzBlE78UMr0\">Scrypt<\/a>, which is energy efficient and quicker. Interestingly enough, while TRG Data centers puts LTC\u2019s power usage at 18.522 KWh per transaction, Dogecoin is estimated to use just <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.trgdatacenters.com\/most-environment-friendly-cryptocurrencies\/\">0.12 KWh per transaction<\/a>. <\/p>\n<p>Musk may have been looking at such estimates when he put up a poll on Twitter this week, asking if Tesla should start accepting Dogecoin payments. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Do you want Tesla to accept Doge?<\/p>\n<p>&mdash; Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1392030108274159619?ref_src=twsrc%5Etfw\">May 11, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/which-green-cryptocurrency-is-tesla-likely-to-add-for-payments\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Which &#039;green&#039; cryptocurrency is Tesla likely to add for payments?&#8221; Elon Musk revealed that Tesla will halt all BTC transactions due to environmental concerns, with the firm set to look at more energy-efficient cryptocurrencies. &lt;p&gt;On May 13, Elon Musk sent shockwaves across the crypto markets by revealing that Tesla will no longer accept any BTC&#8230;<\/p>\n","protected":false},"author":1,"featured_media":248401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvNzc4ZGM2YTQtYzQ1MC00YmRmLTg3ZmQtNWYyYjUyNjk1NWM4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-248400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/248400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=248400"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/248400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/248401"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=248400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=248400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=248400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}