The world is in danger, with plastic pollution and climate change plaguing our ecosystem, and companies are not being held accountable for their contribution to carbon emissions. The ocean is getting warmer, sea levels are rising, extreme weather events are becoming more common, and glaciers are melting. So, what are cryptocurrencies doing to help?
Solana (SOL) and Big Eyes Coin (BIG) are on a crusade toward sustainability, adopting energy-efficient consensuses to reduce their carbon footprint. However, Litecoin (LTC), created in 2011 as an alternative to Bitcoin (BTC), still utilises an energy-consuming consensus, contributing to a high carbon footprint.
Big Eyes Coin Is Committed To Ocean Conservation
Big Eyes Coin has introduced itself to the crypto market in spectacular fashion. The new meme coin is currently in the fifth stage of its presale, raising $7.92 million at the time of writing. So, what is Big Eyes Coin implementing in its ecosystem to improve sustainability in crypto?
A lot of problems our ecosystem faces revolve around the oceans. Overfishing and climate change are putting marine life in danger, and Big Eyes Coin has made it its mission to change that. Big Eyes Coin will hold a charity wallet containing 5% of its tokens inside. The wallet will make regular contributions to ocean conservation charities, taking a huge leap forward in sustainability.
1% of tax fees from NFT purchases will go directly to the charity wallet, ensuring regular donations to ocean conservation charities. Additionally, Big Eyes Coin builds on the Ethereum blockchain, which recently switched to the energy-efficient Proof-of-Stake (PoS) consensus, reducing its carbon footprint by an eye-watering 99.95%!
Solana’s Solution Improves Sustainability and Scalability
Solana was introduced as a scalability solution to the cryptocurrency market against cryptocurrencies like Bitcoin (BTC). However, by improving scalability in crypto, Solana also became one of the most sustainable blockchains, utilising a combined consensus.
Solana combined PoS with Proof-of-History (PoH) to achieve consensus. An annual energy usage report stated that Solana could run for one hour and still use less electricity than Bitcoin does in a single transaction. Due to its combined consensus, Solana can reach up to 50,000 transactions per second at its peak performance.
Historically, Autumn is considered the best time for cryptocurrencies, with Bitcoin reaching its all-time high in November 2021. The same could happen for Solana as it records a 3.72% increase in twenty-four hours at the time of writing, bringing its market capitalisation to $10.9 billion!
Why Litecoin’s Proof-of-Work Consensus Drives Its Energy-Usage Up
Some describe Litecoin as the silver to Bitcoin’s gold. The Litecoin network became a streamlined alternative to Bitcoin, using less energy with faster transactions. Although Litecoin uses around half of the energy that Bitcoin uses per transaction, its energy usage is still of concern.
Litecoin, like Bitcoin, adopted the Proof-of-Work (PoW) consensus mechanism when it launched in 2011. As additional mining capacity joins the blockchain network, the PoW puzzles become increasingly complex. It takes the same amount of time to solve these puzzles. However, the energy needed to solve them increases.
If Litecoin became as popular as Bitcoin, its energy consumption would increase exponentially. Could this become a future worry for the blockchain industry? Litecoin has increased its market capitalisation by 2.04% in twenty-four hours at the time of writing.
Although Solana was introduced as a scalability solution, it became a blockchain network taking steps toward sustainability within the crypto market. While Litecoin is dedicated to its PoW consensus, Big Eyes Coin aims to follow in the footsteps of Solana. The new meme token exudes sustainability, utilising Ethereum’s PoS consensus and regularly contributing to ocean conservation efforts.
Big Eyes Coin is rampaging through the fifth stage of its presale, with ten stages left. If you want to receive bonus tokens with your purchase, all you have to do is type the code ‘BEYES055’ at the checkout!
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