{"id":298420,"date":"2021-07-13T16:37:54","date_gmt":"2021-07-13T13:37:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-alternatives-could-provide-a-green-solution-to-energy-guzzling-cryptocurrencies\/"},"modified":"2021-07-13T16:37:54","modified_gmt":"2021-07-13T13:37:54","slug":"bitcoin-alternatives-could-provide-a-green-solution-to-energy-guzzling-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-alternatives-could-provide-a-green-solution-to-energy-guzzling-cryptocurrencies\/","title":{"rendered":"#Bitcoin alternatives could provide a green solution to energy-guzzling cryptocurrencies"},"content":{"rendered":"

“#Bitcoin alternatives could provide a green solution to energy-guzzling cryptocurrencies<\/strong>”<\/p>\n

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The cryptocurrency bitcoin now uses up more electricity a year than the whole of Argentina<\/a>, according to recent estimates<\/a> from the University of Cambridge. That’s because the creation of a bitcoin, in a process called mining<\/a>, is achieved by powerful computers that work night and day to decode and solve complex mathematical problems.<\/p>\n

The energy these computers consume is unusually high. Police in the UK recently raided what they believed to be an extensive indoor marijuana-growing operation, only to discover that the huge electricity usage that had aroused their suspicions was actually coming from a bitcoin-mining setup<\/a>.<\/p>\n

Thousands of similar setups, around 70% of which are currently based in China, continue to demand more and more energy to mine bitcoins. This has understandably prompted environmental concerns, with Elon Musk tweeting<\/a> in May 2021 that Tesla would no longer accept bitcoin<\/a> as payment for its vehicles on account of its poor green credentials. <\/p>\n

But there are thousands of other forms of cryptocurrency, collectively termed “altcoins<\/a>“, which are far greener than bitcoin\u2014and to which investors are now turning<\/a>. Many of them are attempting to use less environmentally damaging technology<\/a> to produce each coin, which may ultimately herald a greener future for cryptocurrencies.<\/p>\n

Altcoins<\/b><\/p>\n

Of the thousands of “altcoins” in the market, ethereum, solarcoin<\/a>, cardano<\/a>, and litecoin<\/a> have shown promising potential as greener alternatives to bitcoin. Let us take the example of litecoin as an example of how they’re doing it. <\/p>\n


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