The environmental cost of mining cryptocurrencies has recently come under criticism from prominent figures led by Tesla founder Elon Musk. Some of the arguments made by the billionaire in recent weeks include Bitcoin’s mining high energy consumption, although he remains the number one dogecoin fan. Elon’s remarks have seen crypto stakeholders swing action, with several firms committing to mine cryptocurrencies with renewable energy. Furthermore, a Bitcoin mining council was recently formed - a move that has sparked controversy amongst the crypto community.
While the heat continues to build up, native crypto projects, including Ethereum, are making technical changes that might reduce the energy consumption. This blockchain is in the process of switching its consensus algorithm from proof-of-work to proof-of-stake. The former, which is also Bitcoin’s consensus algorithm, is notorious for the high energy consumption we see in crypto mining.
As the likes of Ethereum work on switching up their consensus algorithms, new energy-friendly projects are also emerging. Some have built comprehensive crypto ecosystems where users can interact with multiple features and leverage mining bots instead of using their computers. One such project is dubbed Utopia, a censorship-free and secure decentralized ecosystem with in-built tools.
Reducing the Cost of Crypto Mining with Bots
Being a costly activity, crypto mining is dominated by large and established players. The Utopia mining bots have been designed to change this narrative by introducing a means for everyone to mine the network’s native token, Crypton. As an ecosystem, Utopia is a P2P platform that allows users to access multiple in-built tools while maintaining anonymity. The features include a censorship-free messenger, online poker and chess - Utopia’s Crypton token powers this ecosystem.
Unlike traditional crypto mining, Crypton does not require high-powered machines for one to mine the digital asset. The Utopia mining bots do the heavy lifting of running the nodes while miners get rewards in Crypton. However, miners have to keep the bot running to receive the rewards. Utopia eliminates the hustle of high energy crypto mining costs while introducing a simple way for both veteran miners and newbies to get mining rewards.
The block rewards that Utopia mining bots receive are generated from sustaining the anonymity feature of the platform. These bots are tasked with functions that include the generation of ‘bogus’ packets to cover up real data packets, packet routing and providing RAM. Consequently, the users who run these bots are eligible for mining rewards.
Utopia mining bots are currently available for the Linux RPM and DEB operating systems. The best way to run them is through a private Virtual Power Service (VPS), which guarantees a more sustainable mining process. Other software may not be able to keep the nodes active, failing to achieve 100% up-time. Notably, miners have to download and run the Utopia mining bots for them to start earning Crypton rewards.
The Future of Crypto Mining
With so much happening in crypto, the importance of having energy sustainable networks cannot be ignored. It comes as no surprise that stakeholders have started to take a keener look at alternative strategies to reduce energy consumption. This trend is only getting started, and the industry will likely evolve as pressure mounts.
That said, we are now seeing a paradigm where crypto projects are shifting to energy-friendly consensus algorithms. We also have upcoming projects like Utopia that are creating new solutions for crypto miners and the industry at large. The crypton mining bots initiative by Utopia signals the direction in which crypto mining is likely headed as more people join digital ecosystems. While it may take a while to reduce the energy consumption in crypto mining significantly, the tides are gradually changing.
