Big Eyes Coin sees change for the environmental crisis, while Bitcoin and Litecoin add to it.
The current state of our world and environment is dire. Earth has never been in such terrible shape. All this is due to climate change caused by pollution and the production of greenhouse gases. One million species are at risk of extinction, and natural ecosystems have lost around half of their area. The biomass of wild mammals has decreased by 82%, mainly due to human activity. One of these human activities is mining for crypto, which consumes large amounts of energy annually. Big Eyes Coin (BIG) wants to change this and be a more environmentally friendly cryptocurrency.
How Bitcoin (BTC) Affects the Environment.
Bitcoin (BTC) was the first cryptocurrency to hit the modern market in 2009. It is now the most popular cryptocurrency and has a market cap of $366,387,315,046 as of October 12, 2022. One of the main methods of acquiring this cryptocurrency is via mining. There are many ways to mine cryptocurrency. However, the method created by Bitcoin, which is most widely used today, is the proof-of-work mining method. This method validates Bitcoin transactions and adds blocks to the blockchain.
The way this process works is by having users solve complicated mathematical equations to create a hash that matches the target hash of the current block, the work in this situation. This gives the cryptocurrency miner the ability to add that block to the blockchain and earn rewards in the form of a Bitcoin. Intelligent computers often perform this process and therefore use a lot of energy to run. This causes Bitcoin to consume approximately 123 terawatt hours annually, significantly increasing damage to the earth.
Litecoin (LTC) is not immune to criticism.
Litecoin was released in 2011, shortly after Bitcoin (BTC). Litecoin also uses blockchain technology; however, it is different from the Bitcoin blockchain. Although it is a different form of blockchain, Litecoin’s blockchain still uses the mining system for proof of work.
This is just as harmful as Bitcoin’s use of a proof-of-work mining system. Bitcoin may assume that since they are not as popular as Bitcoin, it will not have as much backlash, but in a world so focused on securing the environment, there will always be backlash. This is especially likely as many other systems are being invented that make the proof-of-work system redundant, but it is still being used and negatively affecting the environment.
How Big Eyes Coin (BIG) is trying to change this.
Big Eyes Coin (BIG) is a meme coin that is in the pre-sale stage and has earned over $7 million dollars so far. The coin features an adorable cat mascot which is a nice change of pace from the classic meme coin structure.
Big Eyes Coin (BIG) uses the Ethereum blockchain, unlike the previous two coins. This blockchain uses a different mining method instead. Cryptocurrency transactions are verified via a form of consensus process called proof of stake. With this approach, cryptocurrency owners can stake their coins, giving them the authority to review and add new blocks of transactions to the blockchain. This results in much lower carbon emissions, around 99% lower. Alongside this, Big Eyes Coin (BIG) will set aside 5% of its total tokens for ocean saving charities.
In summary
Most major cryptocurrencies, such as Bitcoin and Litecoin, produce huge amounts of carbon emissions without taking care of the environment. Big Eyes Coin (BIG) wants to change this and therefore uses a different blockchain that produces fewer emissions.
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Big Eyes Coin (BIG)
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