Everyone knows that crypto is the currency of the future. However, this future could create a huge impact on the natural environment. Experts at Cambridge University have found that mining is the largest environmental issue.
Bitcoin, for example, consumes more energy per unit than Argentina's total which is why it's unlikely that the number will fall within the next few years.
In 2024, greenhouse effect of mining facilities located in China will be greater than the greenhouse effect of Phillipine. Bitcoin was the first crypto to use proof-of-work technology. However, like all new inventions this one isn't perfect, and more modern blockchain platforms employ proof-of-stake technologies.
What is Proof of-Work and proof-of-Stake?
Proof of Work and Proof of Stake
These are the two most popular cryptographic technologies. These two technologies can provide various proofs of their work.
Proof-of Work is a technique for safeguarding the cryptocurrency network on the idea of finding solutions for the essential tasks performed by its members.
Proof-of-Stake, a cryptocurrency network security method that helps protect cryptocurrency networks, is where the participant who is forming blocks is identified by his percentage https://crypta.news/%d0%bf%d1%80%d0%be%d0%b5%d0%ba%d1%82%d1%8b-%d0%bd%d0%b0-%d0%ba%d0%be%d1%82%d0%be%d1%80%d1%8b%d0%b5-%d1%81%d1%82%d0%be%d0%b8%d1%82-%d0%be%d0%b1%d1%80%d0%b0%d1%82%d0%b8%d1%82%d1%8c-%d0%b2%d0%bd%d0%b8/ of the total amount of coins.
Both systems have advantages and drawbacks. PoW technology is extremely energy-intensive and resource-intensive. consequently, modern blockchains prefer PoS.
Does Cardano use PoS technology?
Cardano is an example. It is a third-generation blockchain. Cardano is a third-generation public blockchain which solves issues like (scalability, large energy consumption) Cardano uses Proof-of-Stake technology which consumes much less energy. It is also important to note that the ADA Cardano cryptocurrency is not mined, i.e. in simpler terms, it isn't mined in the same way as Bitcoin.
Cardano is http://www.bbc.co.uk/search?q=crypto a brand new next-generation cryptocurrency.
Cardano Charles Hoskinson
Together with the Cardano Foundation, the eco-project Cardano Forest has raised funds since the 10th of January, 2022 to plant one million trees at Madagascar, Indonesia, Kenya and Nepal through the ADA cryptocurrency.
"Cardano Forest has been 100 percent funded. 1 million trees will be registered on the Cardano blockchain. Frederik Gregaard (CEO of the Cardano Foundation) wrote on Twitter that our achievement proved the effectiveness of our environmental rehabilitation actions.
What exactly is Veritree?
Veritree is a start-up that assists businesses, organizations as well as consumers to raise money to help restore the ecological balance of the world. Veritree collaborates with plant-growing companies, and standardizes the collection, management, loading, confirmation and distribution of information, as well as evidence to both sides.
What is the secret to it?
It's very easy. Veritree, a cryptocurrency-based startup, and the Cardano Foundation plant a tree for every TREE token that is exchanged against an AD token. Each TREE token makes one tree. Minimum purchase amount is fifteen ADA tokens. The TREE token, when used can be exchanged in exchange for digital trees as well as non-interchangeable tokens (NFT).
According to the most recent Veritree report The highest amount of sale was 100,000 ADA (which amounts to about $111 thousand).