Cryptocurrency has a bad name for itself regarding its environmental impact. The huge amounts of energy required to power large computers that run ‘crypto mining’ are often supplied by fossil fuels. This mining technique is used by the two top cryptocurrencies Bitcoin and Ethereum. To put this energy use into scale, more energy is used to fuel Bitcoin than to power some entire countries. On top of this, about 36 kilotons of electronic waste are produced every year as a by-product of Bitcoin.
Some coins are actively tackling this energy consumption, pledging to go carbon neutral or give back to the planet in other ways. Two of these coins are Solana (SOL) and the new coin Big Eyes Coin (BIG). So, what can these currencies do to tackle their energy consumption?
If you’re interested in finding out more about Solana (SOL) and Big Eyes Coin (BIG) take a look here.
Solana’s Carbon Neutrality
This ‘Ethereum killer’ achieved carbon neutrality in 2021 and the Solana (SOL) foundation pledged to remain this way throughout 2022. Solana (SOL) uses 99.9% less energy per year than Bitcoin. By using a ‘Proof of Stake’ mining model, Solana (SOL) does not depend on energy to validate transactions. This system keeps Solana (SOL) both secure and energy efficient at the same time. To put this information into perspective, it uses more energy to Google two questions than make a Solana (SOL) translation.
The Solana Foundation also funds a process called refrigerant destruction. This is listed by Green America as one of the most effective ways to reduce carbon emissions and is the process that Solana (SOL) is supporting for the entirety of 2022.
Solana (SOL) isn’t just stopping here! They’re using features like proof-of-history and parallel processing to make it even more energy-efficient going forward. The Solana (SOL) Foundation is making active participation in environmental conversation as a whole, beyond their own system. Solana (SOL) funds the permanent destruction of HFC and CFC refrigerants over 10,000 times more damaging to our environment than CO2.
Similarly, Solana (SOL) partners with Watershed, a company that helps measure, reduce, remove, and report the carbon status of other organizations, helping to minimize the effect that they have on the environment.
Big Eyes Coin is Making a Big Impact on the Ocean
Our ocean wildlife is struggling with the impact of plastic pollution, overfishing, oil spills, and global warming. As the sea levels rise, they absorb a higher rate of CO2, moving the equilibrium of the ocean out of balance.
One effective way to tackle some ocean damage is through ocean sanctuaries. These are best described as underwater national parks. The marine life within the sanctuaries is protected from oil drills, overfishing, mining, and any direct impact of human activities. The idea is to relieve the pressures of pollution from the waters so that marine life has a chance to flourish and regain strength.
The mascot for the new coin Big Eyes Coin (BIG) is a cute cat with a love of sushi. To protect the fish that he loves so much, Big Eyes Coin is donating 5% of his coins to an ocean sanctuary charity. Ocean sanctuaries allow fish sticks to recover with bigger, healthier fish, which is good news for the sushi-loving Big Eyes cat! With the support of charity donations, like the ones from Big Eyes Coin (BIG), the biodiversity of waters should improve.