Bitcoin network consumes more energy than 82% of countries, bitcoin will lose it's dominance

Calendar05 Nov 2021
Thema: Crypto

At the 2021 Websummit in Lisbon we spoke with Adam Carver from Bitgreen (based in NY). Bitgreen's focus is to create an ecosystem aimed at ESG on top of the blockchain.

Carver expects many more new crypto currencies to come. With crypto currencies users can own their own markets way better than with traditional currencies. Ethereum will flip the markets so bitcoin won't maintain it's dominant position.

Bitcoin Green is a proof-of-stake, transactional currency designed to provide a scalable and sustainable alternative to Bitcoin. Bitcoin Green (BITG) is founded on 'The Green Protocol,' which utilizes a highly efficient proof-of-stake consensus algorithm that solves many of Bitcoin’s sustainability and scalability problems. Furthermore, Bitcoin Green can be mined on any computer or laptop without specialized equipment.

Bitcoin Green, the organization, aims to shed light on a number of critical issues facing proof-of-work based blockchains and raise public awareness for the environmental and economic problems arising from such issues.

The truth about Bitcoin is that it's environmentally unsustainable. If unsustainable mining continues as it's going, miners will double the energy consumption of the entire planet by 2020. This outrageous energy consumption is not necessary to secure a blockchain network and is the first and foremost problem Bitcoin Green is aiming to solve.

Bitcoin Green (BITG) is a sustainable cryptocurrency modeled after Satoshi Nakamoto’s original vision for Bitcoin. It is a decentralized, peer-to-peer transactional currency designed to offer a solution to the problematic exponential increase in energy consumed by Bitcoin and other proof-of-work currencies.