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 has led to a call for a more energy-friendly approach from both crypto and non-crypto enthusiasts.
In this post, we compiled a list of top cryptos in 2021 trying to be as energy-efficient as possible.
Here are 6 crypto projects that are energy conscious:
Key takeaway: Carbon-negative and a partnership with ClimateTrade.
Algorand blockchain is secure, and this security is achieved via the Pure Proof-of-Stake protocol, its innovation
The Pure PoS not only allows for high transaction speeds, but it also secures (yet again with the security) sustainable energy consumption which limits the environmental impact
Algorand has partnered up with ClimateTrade, a company that provides emissions offsetting services. It also announced the blockchain is going carbon-negative
ALGO can be accepted as payment or donation by environmentally-conscious merchants, most of all
Key takeaway: 100% energy-efficient (block-lattice system) and fee-less.
Nano project aims to ‘make money efficient for a more equal world – simple to pay with, easy to accept, and open to all.’ Nano is fee-less and fast
The team behind Nano coin has created a 100% energy-efficient system based on the block-lattice they’ve developed.
The Nano tech has removed the staking, hence a lot less energy consumed. Also, there is no mining in Nano, so no energy is wasted
Nano tirelessly works on maximizing the efficiency and global reach of digital money worldwide
Key takeaway: an innovative alternative to PoW consensus, less electricity but higher throughput
The Hedera network is based on the innovative hashgraph consensus developed by Dr. Leemon Baird which constitutes a more efficient alternative to proof-of-work consensus found on the most ubiquitous public blockchains
Hedera Hashgraph demonstrates its absolute superiority to proof-of-work blockchain platforms in terms of sustainability
Hedera Hashgraph uses much less electricity per transaction than Bitcoin or Ethereum but manages to maintain a throughput which is exponentially higher
HBAR can be accepted as payment or donation
Key Takeaway: 6.24 million times more efficient than BTC
Elrond (EGLD) can process 15,000 transactions per second. At the same time, the network consumes less electricity than PoW currencies
Elrond implements a Secure Proof-of-Stake protocol that leverages both high throughput and sustainability
Elrond is 6.24 million times more efficient than Bitcoin
You can always accept EGLD payments or EGLD donations.
Key takeaway: ADA cannot be mined and it is reportedly 37, 500 times more energy-efficient than BTC
Cardano is also considered to be one of the most environmentally sustainable blockchains
The founder of Cardano once said, the network uses only 6 GWh of power, hence it is a ‘balanced and sustainable ecosystem.’