The Bitcoin Mining Council is on a movement towards clean energy. The data shows that the global bitcoin mining industry’s sustainable electricity mix crossed 56% in Q2 2021, up from 36.8% in the previous quarter. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production, or roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. This certainly sounds like a lot of energy. On the other hand, cryptocurrencies like Ethereum (ETH), Solana (SOL) and Big Eyes Infinity (BIGINF) are aspiring to be the most energy-efficient cryptos.
Proof-Of-Stake Vs. Proof Of Work
Proof of work serves as the communication and agreement method among computers within a blockchain network to process transactions. This algorithm is utilised by cryptocurrencies to achieve consensus between computers. However, Proof-of-Stake is a blockchain consensus algorithm where the next block’s creator is chosen based on the user’s token holdings, known as their stake. Proof-of-Stake alters block verification using coin owners’ machines. For example, Ethereum mandates staking 32 ETH for validation eligibility. Thus, in one way or another, Proof-of-Stake is a consensus mechanism for cryptocurrency transactions and block creation.
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Ethereum’s move to Proof-of-Stake enhances user engagement, trust, and long-term stability. Ethereum’s blockchain coins like Big Eyes Coin, also use the same method and consume less energy. This green crypto emerged as a promising coin, now having a successful presale called Big Eyes Infinity (BIGINF) that is getting the endorsers of the coin very excited about the new gaming currency.
How Much Energy Does Bitcoin Use?
Bitcoin is a cryptocurrency that uses a lot of energy to process transactions and generate new coins. Bitcoin currently consumes around 0.55% of global electricity production. Bitcoin’s annual energy consumption is comparable to that of small countries like Malaysia or Sweden.
Solana on the other hand, with 1,196 validator nodes and an estimated 20,000,000 transactions, uses an estimated 3,186,000 kWh per year. This is the equivalent of the average electricity usage of 986 American households.
While Ethereum’s energy consumption is very low, there is also a substantial, growing, and highly active regenerative finance (ReFi) community building on Ethereum. Ethereum and all of the coins that are built on its blockchain use very low energy, like Big Eyes coin and its new Big Eyes Infinity (BIGINF) which is issued as an ERC-20 token on the Ethereum blockchain follows the same pattern.
Green Crypto & Better Investments
While efforts are made to minimise the carbon footprints of cryptocurrency, some investors are jumping ship in favour of greener options. Truth be told, it’s difficult to point to any currency as being ‘greener’ than others. However, many much smaller cryptocurrencies like Big Eyes Coin and its new and improved token Big Eyes Infinity (BIGINF) naturally have a far lower energy footprint because they involve far fewer daily transactions in comparison to Bitcoin. Furthermore, all BIGINF will be airdropped to buyers when the token launches which contributes to saving energy.
How Green Crypto Is Changing the Game?
With the world looking for ways to be more environmentally friendly and build a sustainable future, it makes sense that cryptocurrencies should fall in line.
As a result, the trend towards environmentally-friendly cryptocurrencies has increased in recent investment cycles. The most prolific consumer of energy is Bitcoin, so much so that Elon Musk has even removed Bitcoin crypto as a payment method for his electric cars.
The Efforts In Implementing Proof-of-Stake
Cryptocurrencies such as Ethereum, with energy consumption lower than that of a small American town, Solana reducing power costs, and the Big Eyes Coin with its innovative Big Eyes Infinity presale, showcase energy-efficient advancements. Since it is an Ethereum blockchain-based coin, it basically consumes the power of one house. When a customer buys BIGINF tokens during the presale, the number of tokens you have bought will be matched by Big Eyes as a bonus and added to your Big Eyes account after the presale has ended.
Big Eyes Infinity (BIGINF)
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