Altcoin: Clean and Green Bitcoin Alternative

Cryptocurrency is the next digital advancement in the spanning investment field. Most of the companies are accepting payments in bitcoin to join the bandwagon. But the negative aspect of this digital currency cannot be ignored. Crypto mining is posing major problems for the environment. 

 

Bitcoin, the most popular cryptocurrency, consumes huge amounts of energy. Bitcoin mining is a process that involves the decoding of complex mathematical problems. This decoding process involves consumption of electricity. Elon Musk is concerned about the impact of bitcoin mining on the environment. China has proposed a ban on cryptocurrencies on account of huge electrical energy consumption. 

 

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Elon Musk has raised concern over the impact of bitcoin mining on the environment. Carbon emissions thus produced hamper the atmosphere. Now companies are focusing on altcoins, an alternative to bitcoin that is green and clean. Investors are showing immense interest in altcoins. Altcoins are presenting a new and better way for investments. 

 

Ethereum, solarcoin, cardano, litecoin are some popular altcoins. These alternatives are clean and green. Litecoins require only a quarter of time for production. Litecoins can be mined using standard computer hardware.  Altcoins may soon take over bitcoin. Altcoins are built using the “proof of stake” protocol. Altcoins may open new doors for investment enthusiasts. 

 

According to THE CONVERSATION Other alternatives, such as solarcoin, aim to encourage real-world green behaviours. One solarcoin is allocated for every megawatt hour that’s generated from solar technology, rewarding those who’ve invested in renewable energy.