The current state of our world and our environment is dire. Earth has never been in such a horrible state. This is all due to climate change caused by pollution and the production of greenhouse gases. One million species are threatened with extinction and natural ecosystems have lost about half of their area. The biomass of wild mammals has decreased by 82%, mainly due to human activity. One such human activity is crypto mining, which uses a large amount of energy every year. Big Eyes Coin (BIG) wants to change that and be a more environmentally friendly cryptocurrency.
How Bitcoin (BTC) affects the environment.
Bitcoin (BTC) was the first cryptocurrency to hit the modern market in 2009. It is now the most popular cryptocurrency and has a market capitalization of $366,387,315,046 as of October 12, 2022. L One of the main methods to acquire this cryptocurrency is through mining. There are many ways to mine cryptocurrency. However, the method created by Bitcoin, which is most widely used today, is the proof-of-work mining method. This method validates Bitcoin transactions and adds blocks to the blockchain.
The way this process works is to have users solve complicated mathematical equations to create a hash that matches the goal hash for the current block is the job in that situation. This gives the cryptocurrency miner the ability to add that block to the blockchain and earn rewards in the form of Bitcoin. Smart computers often perform this process and therefore consume a lot of energy to operate. It consumes Bitcoin about 123 terawatt hours every year, dramatically increasing the damage done to the Earth.
Litecoin (LTC) is not immune to criticism.
Litecoin was released in 2011, shortly after Bitcoin (BTC). Litecoin also uses blockchain technology; however, it is different from the Bitcoin blockchain. Although it is a different form of blockchain, the Litecoin blockchain still uses the proof-of-work mining system.
This is just as detrimental as Bitcoin’s use of a proof-of-work mining system. Bitcoin may be assumed that since it’s not as popular as Bitcoin it won’t have as much backlash, but in a world so focused on securing its environment, there will always be a backlash. This is especially likely because many other systems are being invented that make the proof-of-work system redundant, but it is still in use and negatively affecting the environment.
How Big Eyes Coin (BIG) is trying to change that.
Big Eyes Coin (BIG) is a meme coin that is in its pre-sale phase and has earned over $7 million so far. The room has an adorable cat mascot which is a nice change of pace from the classic meme room structure.
Big Eyes Coin (BIG) uses the Ethereum blockchain, unlike the previous two coins. This blockchain instead uses a different mining method. Cryptocurrency transactions are verified through a form of consensus process called proof of stake. With this approach, cryptocurrency owners can stake their coins, giving them the power to review and add new blocks of transactions to the blockchain. This produces far less carbon emissions, at around 99% less. Along with this, Big Eyes Coin (BIG) will set aside 5% of its total tokens for ocean saving charities.
to summarize
Most of the larger cryptocurrencies, such as Bitcoin and Litecoin, produce massive amounts of carbon emissions with little regard for the environment. Big Eyes Coin (BIG) would like to change this and therefore uses a different blockchain with less emissions.
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