How is Crypto coping with the climate crisis? New Big Eyes Coin and Solana

Cryptocurrency has a bad name for itself when it comes to environmental impact. The vast amounts of energy required to power large computers running ‘crypto mining’ are often supplied by fossil fuels. This mining technique is used by the top two cryptocurrencies Bitcoin and Ethereum. To put this energy use to scale, more energy is used to power Bitcoin than to power any entire country. On top of this, approximately 36 kilotonnes of electronic waste are produced each year as a by-product of Bitcoin.

Some coins are actively tackling this energy consumption, promising to become carbon neutral or give back to the planet in other ways. Two of these coins are Solana (SOL) and the new coin Big Eyes Coin (BIG). So, what can these currencies do to tackle energy consumption?

If you are interested in finding out more about Solana (SOL) and Big Eyes Coin (BIG), take a look here.

Solana’s carbon neutrality

This ‘Ethereum killer’ achieved carbon neutrality in 2021 and the Solana (SOL) foundation pledged to remain so through 2022. Solana (SOL) uses 99.9% less energy per year than Bitcoin. Using a “Proof of Stake” mining model, Solana (SOL) does not rely on energy to validate transactions. This system keeps Solana (SOL) both safe and energy efficient at the same time. To put this information into perspective, it takes more energy to Google two questions than to create a Solana (SOL) translation.

The Solana Foundation also funds a process called refrigerant destruction. This is listed by Green America as one of the most effective ways to reduce carbon emissions and is the process that Solana (SOL) supports for all of 2022.

Solana (SOL) doesn’t just stop here! They use features like proof-of-history and parallel processing to make it even more energy efficient going forward. The Solana Foundation (SOL) actively participates in the environmental conversation as a whole, beyond their own system. Solana (SOL) finances the permanent destruction of HFC and CFC refrigerants which are over 10,000 times more harmful to the environment than CO2.

Similarly, Solana (SOL) partners with Watershed, a company that helps measure, reduce, remove and report the carbon status of other organizations, helping to minimize their impact on the environment.

Big Eyes Coin has a big impact on the ocean

Marine wildlife is struggling with the impact of plastic pollution, overfishing, oil spills and global warming. As sea levels rise, they absorb a higher degree of CO2, shifting the equilibrium in the ocean out of balance.

An effective way to tackle some marine damage is through marine reserves. These are best described as underwater national parks. The marine life in the sanctuaries is protected from oil drilling, overfishing, mining and any direct impact of human activities. The idea is to relieve the pollution pressure from the water so that marine life has a chance to flourish and regain strength.

The mascot of the new coin Big Eyes Coin (BIG) is a cute cat with a penchant for sushi. To protect the fish he loves so much, Big Eyes Coin donates 5% of his coins to a marine sanctuary charity. Marine sanctuaries allow fishing rods to get away with bigger, healthier fish, which is great news for the sushi-loving Big Eyes cat! With the support of charitable donations, such as those from Big Eyes Coin (BIG), the biodiversity of water should be improved.

Disclaimer: This article is a paid publication and has no journalistic/editorial involvement from Hindustan Times. Hindustan Times does not endorse/subscribe to the content of the article/advertisement and/or the views expressed herein.

The reader is further informed that crypto products and NFTs are unregulated and can be very risky. There can be no regulatory recourse for losses from such transactions.

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