So much has been said, but very little has been done to help save the environment. Everyone knows that our planet is deteriorating, so much for man-made impact. The bushfires in Amazon and Australia, the volcanic eruptions everywhere, flash floods, and all other catastrophes happening around the world are all indications of how bad the situation of our planet is. Unfortunately, most of these disasters were caused by man. We might not realize it, but the choices we make in our daily lives leave a carbon footprint. Filling up your car with gas, taking a long-haul flight, or even acts as simple as buying coffee or switching all your lights on, all contribute impacts to our already damaged mother earth. But we all know this already, don’t we? We all know the great risks that carbon emissions pose to the environment, but we should all start knowing how to help save it, in whatever way we can, big or small.
On the other hand, digital currencies, most commonly known as cryptocurrencies, have come a long way since Bitcoin was created. Many other cryptos followed suit thereafter, and among the more popular ones include Ethereum, Altcoins, Litecoin, Ripples, and many others. On the environmental perspective, cryptocurrencies may look like its environment-friendly as it does not require any carbon emissions when cutting trees to extract linen and cotton, or mine copper, zinc, or nickel the way they do to paper money and coins. Obviously, this process is not required for digital currencies as they are not printed, but the bigger picture tells more than that. In fact, cryptocurrencies are often the subject of environmental critics due to the massive energy and power that are required for mining them.
As cryptos are decentralized and are, therefore, not linked to any central bank, they are generated by a process called mining. Miners around the world solve complex mathematical problems in their computers, which earns them a share of the mined cryptos. Using blockchain technology, all transactions are saved in a distributed digital ledger, and information is shared among the individual computers and mining rigs around the world. However, mining cryptocurrencies requires an overwhelming amount of energy, which is harmful to the environment. According to data by Bitcoin Energy Consumption Index, the amount of energy required and used in mining cryptos could power 3 million households in the US alone by 2017. A much more energy requirement than the traditional way of a transaction of Visa Inc., which used energy that could power only 50,000 households in the US. Merely 1.67% of the energy consumption used for mining cryptocurrencies in 2017 alone.
As we all know, burning coal and other fossil fuels is the major source of electricity around the world. We also know that this process is extremely harmful to the environment due to its tremendous carbon emissions. That said, the more energy is used, the more harm that it gives to the environment, the way mining does. But did you know that there is a new digital currency that does not require such amount of energy for mining? Yes, you read it right. The Virie Market has its native coins called Virie (VRE), which is universally used within the market to exchange for anything, including currencies, both fiat and cryptos, goods, and services. And yes, it mines too, on its own. The most user-friendly platform of Virie Market has an automated mining process. This means that you don’t need that much energy to create more VRE coins. In fact, you don’t even have to hire a miner. All you need is to download it just like any other application on your computer so, the energy consumption remains the same when you use your computer. That is how Virie can help save the environment in such a great way! Download it now to see for yourself how it works.
