Most sustainable coins: Cryptocurrency services comparison site Cryptowisser have released a report of the top 100 most sustainable crypto coins. Algorand leads the way, and Bitcoin brings up the rear.
The Crypto Carbon Footprint list ranks the top 100 Crypto coins by their carbon footprint. The list details how each coin affects the environment. This is calculated based on their energy consumption per transaction. The table displays the results using a color scheme.
Over 10% of the top 100 cryptocurrencies are deemed as carbon neutral or even carbon negative, according to the table.
Around 40% of cryptocurrencies have a very low carbon footprint. The report calculates their transactional energy consumption to be equal to a single VISA transaction.
A fraction of cryptocurrencies are deemed to have a high carbon footprint. Unfortunately, Bitcoin and Ethereum, the two biggest cryptocurrencies, were reported to be the least sustainable.
Most sustainable coins: The leaders and the losers
Top contenders like Celo Coin and Avalanche have virtually no consumption. Bitcoin, on the other hand, consumes 47.5kg of CO2 per transaction. This is similar to 1-2 hours flying on a commercial flight.
The energy used by each coin is dependent on the mechanism/consensus algorithm used for its blockchain. The most common are Proof-of-Work (PoW) or Proof-of-Stake (PoS). While they have similarities, they can differ in how they execute a transaction. Generally, Proof-of-Work consumes more.
Cryptowisser is a cryptocurrency services comparison site. They say they have the world’s largest, most frequently updated and most trusted lists of cryptocurrency exchanges, debit cards, wallets, and merchants. A spokesperson for Cryptowisser said, “The list gives a hopeful insight into the sustainable future of cryptocurrencies and inclinations of a progressive move to a com sustainable crypto future.”
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