Bitcoin, Ethereum, and Bitcoin Cash according to Forexsuggest are the worst cryptocurrencies polluting the planet as bitcoin has emitted about 56.8 million tons of CO2, over two and a half times as much as Etherum in 2021
Cryptocurrency mining and environmentalists don’t generally go together in discussions about the blockchain industry’s progress, but one tweet from Tesla CEO Elon Musk was enough to get the crypto community worried about what Bitcoin and Proof-of-Work miners are doing to the earth.
Forexsuggest looked into a number of cryptocurrencies and calculated how dirty they are, as well as the anticipated carbon emissions and resources required to mitigate their effects.
As stated in the paper, Statista, Business Insider India, Laptop Mag, and other sources were used to compile the statistics. They calculated carbon emissions and the rate of increase of those emissions after compiling the information.
The Worst Cryptocurrencies for the Environment: Bitcoin, Ethereum, and Bitcoin Cash
Bitcoin and Ethereum, as expected, are the world’s two most polluting networks. They also have the highest concentration of hashing power.
Bitcoin emitted 56.8 million tons of CO2 in 2021 alone, more than two and a half times the amount emitted by Etherum. According to corporate calculations, it would take around 284.1 million trees to offset all of the harmful gas released by BTC miners.
Ethereum, on the other hand, emits significantly less pollution, yet its performance is far from ideal: So far this year, Ethereum miners have produced 22 million tons of CO2, necessitating the planting of around 110 million new trees to offset the effects.
With only 1.5 million tons of CO2, Bitcoin Cash, a Bitcoin split created in 2017 with the purpose of mining for larger blocks (leading to an even more polluting network), comes third on the list. However, it is the network with the biggest year-over-year increase in emissions, with a 748 percent increase in toxic gases.
According to the report, Bitcoin mining has reduced pollution levels by 5%, owing to miners’ relocation from China and its thermoelectric power to countries with greener energy sources, such as the United States.
The Most Environmentally Friendly Cryptocurrencies in 2021
However, there are some green options in the bitcoin market. Unfortunately, as compared to the more energy-intensive cryptocurrencies, they are less popular tokens.
Nano is currently ranked third on this coveted list. This cryptocurrency does not require mining and is based on block-lattice technology rather than a blockchain. Nano can process 125 TPS while using only 0.000112 kWh each transaction, resulting in very low CO2 emissions.
The second most efficient coin is IOTA, which uses a directed acyclic graph technology with a probabilistic consensus method rather than blockchain. Per transaction, it takes roughly 0.00011 kWh.
According to the study, Stellar, a competitor to Ripple, is the most ecologically friendly cryptocurrency, requiring only 0.00003KWh per transaction, which is less than a third of what IOTA requires.
Per transaction, Stellar requires 0.00072 oz of CO2. When compared to Bitcoin’s 1,060.5 pounds per transaction, this is practically nothing.
