There is no denying the fact that mining cryptocurrencies and processing decentralized transactions demand large amounts of energy. As per the Bitcoin Energy Consumption Index, the total energy consumption of the Bitcoin network tops 131.12 TWh – that’s almost equal to the total power consumption of Argentina.
Experts claim that the energy consumption and electronic waste generated through mining Bitcoins is primarily due to its Proof-of-Work (PoW) consensus algorithm. Elon Musk also reversed his decision of accepting Bitcoin as payment, citing the environmental impact of cryptocurrencies as the primary reason.
Thanks to the pressure created by NGOs and regulatory authorities, industrialists and entrepreneurs, and the crypto community in general, new and upcoming crypto projects are aiming for the same green cause.
To further the green crypto initiative, a Swiss blockchain firm, Jelurida, offers an energy-efficient and reliable ecosystem for dApps that can support a wide range of real-world use cases. Unlike the PoW mechanism that consumes a lot of