STOCKHOLM, March 8, 2022 /PRNewswire/ — Cryptowisser releases their Crypto Carbon Footprint list ranking the top 100 Crypto coins by their Carbon Footprint. The list details how each coin affects the environment based on their energy consumption per transaction. Using a color scheme you can see where each coin falls on the list.
According to the list over 10% of the top 100 cryptocurrencies are deemed as Carbon neutral or even carbon negative.
Around 40% of Cryptocurrencies are deemed having a very low carbon footprint, with the report likening their transactional energy consumption to a single VISA transaction.
A very small amount of Cryptocurrencies are deemed to have a high carbon footprint, however the two biggest cryptocurrencies, Bitcoin and Ethereum were reported to be the least sustainable.
The report measures each Cryptocurrency by the grams of carbon consumed per transaction. While some of the top contenders such as Celo Coin and Avalanche have virtually no consumption, Coins Like Bitcoin consume 47.5kg of C02 per transaction, which is similar to 1-2 hours flying on a commercial airplane flight.
Overall, the energy consumed by each coin is highly dependent on the mechanism/consensus algorithm used for its blockchain, the most common two being either Proof of Work (PoW) or Proof of Stake (PoS) and while they have similarities, they differ in how they execute a transaction, and generally Proof of Work consumes a considerable amount more.
The list gives a hopeful insight into the sustainable future of cryptocurrencies and inclinations of a progressive move to a completely sustainable crypto future.
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