Nowadays, the threat of climate change is being taken seriously by citizens globally. This concern influences consumers, and as a result, many people are choosing eco-friendlier alternatives to conventional items.
According to a recent survey, most people worldwide are concerned about climate change (68%), and the vast majority (76%) think it’s the responsibility of major enterprises to take action on this issue.
Recent research found that just 100 corporations were accountable for nearly 70% of the world’s greenhouse gas emissions. Cryptocurrencies share this obligation because their mining and use can produce substantial pollution.
Will newer, greener currencies like Big Eyes Coin (BIG) rival Bitcoin (BTC) and Litecoin (LTC), two of the most prominent cryptocurrencies in the future? Only time will tell.
Bitcoin (BTC) – The Father of Crypto
Many modern cryptocurrencies have been introduced, but Bitcoin (BTC) was one of the earliest. It has the largest market capitalization and is currently the most widely used cryptocurrency. It has been projected that Bitcoin uses 150 TWh of electricity every year. How Bitcoin is mined contributes significantly to this number.
The proof-of-work mining algorithm is used to generate Bitcoin. A unique hash value is associated with each node on the blockchain. The blockchain can be expanded to include more Bitcoins. Solving complex mathematical equations that provide the block’s complement number is required.
This way, users who successfully solve the equation can contribute their solution to the blockchain and earn a Bitcoin reward. Since more people are mining Bitcoin, the equations involved have become more complex. This is why intelligent computers are preferred for mining, as they can quickly do the task. However, Bitcoin’s high energy usage is a direct result of the use of these powerful processors.
Litecoin (LTC) – The Lighter version of Bitcoin
In 2011, a new cryptocurrency, Litecoin, was introduced to compete with Bitcoin. The coin’s release was intended to increase the speed of cryptocurrency transactions, and it has succeeded by making it four times as quick as Bitcoin’s platform. The Litecoin blockchain is a fork of Bitcoin’s blockchain. In other words, Litecoin follows Bitcoin’s lead and employs the same proof-of-work system.
It’s possible that Litecoin mining doesn’t require as much power as Bitcoin mining, and that’s why it is trendy right now. Though the mining process harms the environment, it nonetheless generates energy.
Introducing Big Eyes Coin (BIG)
A new meme coin called Big Eyes Coin (BIG) is a type of cryptocurrency that aspires to create a positive impact on the world. Unlike the currencies mentioned above, Big Eyes Coin employs the proof-of-stake mining mechanism. In the proof-of-stake model, cryptocurrency holders “stake” their coins to “vote” for validator nodes.
Staking entails putting up cryptocurrency as collateral for verification purposes. Coins are locked when staked but can be unlocked and traded if necessary. As a result, the blockchain may continue to grow without the massive amounts of energy used by the proof-of-work protocol.
There’s more to Big Eyes Coin’s eco-friendliness than that, though. This new platform has the potential to save ecosystems, clean up the oceans, and improve the Earth in general, which is what a lot of new users are looking for when joining crypto communities. In addition, the coin will set aside 5% of its BIG tokens specifically for distribution to organizations working to protect the world’s oceans.
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Website: https://bigeyes.space/