Cryptocurrencies are often criticized for being bad for the climate. The reality is different and more complicated since there are for example cryptocurrencies that use less energy during transactions compared to Visa and Mastercards.
One such crypto is Algorand, a blockchain presenting itself as “the carbon-neutral blockchain”. Algorand was founded among others by Silvio Miceli in 2017, an MIT-affiliated computer scientist and promoter of decentralization in relation to climate change topics as sustainability
blockchain system is called “Pure Proof of Stake” which can do around 11 000 transactions per second.
Algorand is also cooperating and partnering up with companies and communities as a carbon offset marketplace Climate Trade driven by ambitions regarding climate transformation and a green market economy. Also, Algorand’s smart contract system results in an allocation of Algorand blockchain’s transaction fees used to purchase carbon credits at ClimateTrade.
Another example is Algorand supporting environmental actions such as contributing to planting trees around the world, thereby compensating for its energy usage. Last but not least Algorand is constantly improving its PPoS validator-driven system by analyzing its energy usage and finding new methods for internal operations. At the moment, Algorand is also aiming to make new projects and operations in
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