Although cryptocurrencies are becoming more common by the day, many people have doubts about this issue. Experts argue that these digital currencies could amplify already dangerous climate changes and wreak havoc on our planet. Even some studies global Bitcoin (BTC) mining from some countries in a year more energy It shows what you have spent.

Still, there are companies that want to create a more sustainable future by making blockchain technologies ‘green’. Here’s one of them, a US-based “carbon negative” blockchain company called Algorand, ahead of April 22 Earth Day, which is celebrated to draw attention to the effects of climate change, to ensure the technologies of the future are being developed . it’s not that bad He makes a move to show off.

Times Square is getting dark

According to the news, it is known as a carbon negative blockchain. algorithmpopular in New York City, USA, to save energy, to refer to similar companies that harm the environment and to raise awareness that these technologies can also be green. Will Times Square plunge into darkness† According to the statements, the famous billboards in the giant square will be darkened for 60 minutes tonight at 8:00 PM local time (03:00 TSI). 23.4 billion joules energy savings will be achieved. (Equivalent to a day’s energy consumption of about 25 houses)

Bitcoin; due to the excessive processing power required, the energy consumption and the environmental footprint created. proof of work The use of technology is a topic that has received a lot of criticism. As an alternative though proof of commitment one method mentioned, unlike the others, does not rely on computing and processing power; instead, it focuses on digital asset ownership. For this reason, it is thought that the proof-of-stake protocol can make cryptocurrencies more environmentally friendly. Algorand is one of the companies that benefit from this method. Let’s also add that Ethereum, the world’s second largest cryptocurrency, is preparing to switch to proof-of-stake by the end of this year.

In addition, it was stated that after the blackout, the message to protect the planet for a green future will be given to people through screens. Algorand CEO Staci Warden also drew attention to the technology they were using in his statements, using the following statements:We have secure, fast and carbon-free technology for everything from traditional payments, NFTs, decentralization to the metaverse. Algorand was built to achieve this. This is what sets us apart from other blockchains.†