Many experts say proof of stake can offer the crypto sector a dramatically greener future.
Chia coin is marketed as a cryptocurrency with an ecological “farming” method, though environmentalists say the e-waste issue is a problem.
With a market cap just shy of $1 trillion, Bitcoin’s carbon footprint of 54 million metric tonnes of carbon dioxide is comparable to that of Singapore.
Ethereum has been giving Bitcoin a run for its money, and its energy addiction has risen just as fast.
The Ethereum network plans to switch over from PoW to a more efficient proof-of-stake system later in 2021.
Elon Musk’s favourite meme crypto has surged in value since the beginning of the year.
This cryptocurrency uses the same Scrypt-based algorithm as Dogecoin, though it too is a spinoff of Bitcoin.
XMR, a privacy-focused cryptocurrency, uses proof of work with a RandomX algorithm and generally runs on graphics processing units.