By EWN • 08 October 2022 • 10:50
Sustainability is becoming an increasingly important element in the world that we live in due to the current state of the climate. Many industries such as fashion, hospitality and automotive are all gradually making efforts to manufacture their new products more sustainably. The factor of sustainability has also entered the world of crypto, where many networks are now opting to incorporate more environmentally friendly mechanisms in blockchain technology.
One of the most recent examples of this is Ethereum’s merge that occurred on 15 September 2022, which saw the network opt for a more energy efficient consensus. Polkadot (DOT) is another well established project known for conserving energy, helping sustainability thrive further in crypto. A newcomer that is looking to follow the environmentally friendly movement is Big Eyes Coin (BIG). Can BIG help increase sustainability in crypto? Let’s find out.
One of Big Eyes Coin’s primary goals is to safeguard the ocean, a vital component of the global environment. They want to follow suit by contributing 5% of their available tokens to sea-based conservation activities. BIG’s long-term viability is ensured by its use of the veteran network Ethereum, which has now converted to a proof-of-stake consensus.
The meme coin has already established a strong online presence because of its striking mascot, a feline with big pupils. The animation for their figurehead is made in a manga/anime style, drawing inspiration from Japanese culture. Big Eyes Coin was developed to transfer capital into the decentralised financial ecosystem, independent of the blockchain network.
This is encouraging given that the globe is now experiencing an energy crisis. As a result, a low-energy PoS mechanism will almost certainly attract more users to the Big Eyes Coin network. Big Eyes Coin, which is built on Ethereum, expresses its desire to offer use to meme currencies through its long-term viability. BIG has reached over $ 5 million and is on the fourth stage of its eleven stages until launch. Big Eyes Coin is still in its early stages, with each stage increasing by 25%. Join the cat community whilst it is still affordable.
Ethereum (ETH) is a blockchain network and, after Bitcoin, the second most popular cryptocurrency. It boasts the most comprehensive crypto ecosystem, with multiple large Ethereum-based blockchain networks. As mentioned previously, Ethereum completed its long-awaited Merge with The Beacon Chain on September 15, 2022. The primary goal of this Merge was to transition the blockchain from a proof-of-work (PoW) consensus method to a proof-of-stake (PoS) consensus mechanism (PoW). The adjustment appears to have had a positive impact on the creation of new Ethereum blocks.
The upgrade was recognised as one of Ethereum’s most significant improvements. Following this modification, Ethereum’s average block time — the time it takes miners or validators on a network to validate transactions — fell by more than 13%. Essentially, the modification was done to encourage sustainability by minimising the carbon footprint, which resulted in cheaper prices and faster processes. We are currently in the grip of a global energy catastrophe. As a result, an energy-efficient PoS system will surely attract more users to its network.
Polkadot (DOT) is an open-source sharded multichain protocol that links and protects a network of specialised blockchains. Essentially, Polkadot allows cross-chain transfer of any data or asset type, not only tokens, allowing blockchains to be compatible with one another. Polkadot was created to serve as the foundation for a decentralised internet of blockchains, often known as Web3.
One of DOT’s main features is its economic and transactional scalability. Polkadot enables unparalleled economic scalability by allowing a single group of validators to secure many blockchains. The blockchain network enables transactional scalability by distributing transactions over numerous parallel blockchains.
It is a project that provides a basis for a user-controlled decentralised web, as well as for the construction of new apps, institutions, and services. According to a research conducted by engineer Ulrich Gallersdörfer, Polkadot has the lowest overall power usage and total carbon emissions per year among the six so-called proof-of-stake blockchains analysed.
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