Renewable Energy News

Renewable energy is derived from resources that can be regenerated naturally over time. The supply cycle is maintained because the sources are replenished faster than consumed. Sources of renewable energy include the sun, wind, water, biomass and the Earth's heat (geothermal energy). These energy sources power blockchains, cryptocurrency exchanges and mining, helping the cryptocurrency industry become more eco-friendly.

Various cryptocurrencies are known for their environmental impact. For instance, most well-known cryptocurrencies, including Bitcoin — the first cryptocurrency, founded in 2009 — are created through mining. However, to reduce their disproportionate energy use, there has been an explosion in the development of sustainable ways to mine cryptocurrencies and environmentally friendly crypto initiatives. 

Additionally, green cryptocurrencies seek to reinvent this procedure to provide a more open, equitable, sustainable system than traditional government-controlled currencies. For instance, green coins are alternative cryptocurrencies that cause less environmental harm because they are developed based on the proof-of-stake (PoS) or delegated proof-of-stake (DPoS) consensus mechanism. By boosting the use of renewable energy, the top miners in the world hope to attain a goal of net zero direct and indirect carbon emissions by 2050 or earlier. Additionally, some cryptocurrency funds and investment products such as exchange-traded funds (ETFs) only deal with coins that are mined in a carbon-neutral manner.