Eco-friendly cryptos to watch out for this year

economictimes.indiatimes.com:

There are already many other cryptos that are eco-friendly, though, so environmentally aware investors can take heart. Popular Crypto exchange platforms such as CoinSwitch make buying such coins easy, so all you have to do now is to begin to look for them.Why many cryptos are not eco-friendlyAccording to the Digiconomist’s Bitcoin Energy Consumption Index, mining bitcoins consumes more energy per year than countries like Malaysia or Sweden, with a single Bitcoin transaction requiring 1,544 kWh. And Bitcoin has a total of 21 million coins, 90% of which are already in circulation. So, if a single digital currency can consume so much energy, just imagine how much the crypto sector consumes in a year!

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You can earn interest like bank savings account on your Bitcoin wallet

Needless to say, this mind-boggling consumption mostly comes from non-renewable sources. The reason why they take up such a huge quantity of resources is that the basic idea of a digital coin is that it has no physical form. The process that makes it possible for them to exist without a physical form is called mining, and that’s what requires the huge processing power which is worrying to environmentalists. The mining process is very expensive—environmentally and otherwise—because it involves the use of:

Five eco-friendly coins Cryptocurrency mining currently consumes an alarming amount of fossil fuels. But it doesn’t have to. There are alternative, environmentally friendly cryptocurrencies already. Here’s introducing you to some of them.Stellar The Stellar network was the result of