Even in the cryptocurrency sector, the concept of sustainability has started to be a key aspect: let’s look at the most sustainable crypto assets for 2023: Cardano, EOS.io and Nano.
For a long time now, global attention to the pollution caused by some cryptocurrencies has become a major issue.
In light of the global interest regarding the sustainability of crypto projects and renewable energy, investing in green cryptocurrencies can be an excellent future investment.
In this article, we are going to analyze three crypto assets considered sustainable by Coinspot, and recommended as investments for 2023. But before we delve in, we need to understand some general concepts.
What do we mean by green cryptocurrencies? These include Cardano, EOS.io and Nano
It’s all about offsetting energy emissions: for a cryptocurrency to be considered “green,” it must have limited or no emissions offsets. Zero offsetting is the goal for many, but for some smaller projects, it is still very difficult to implement.
Cryptocurrencies, as we know, work using blockchain technology. Computing by large computers is required for transactions that take place in the blockchain, but only for Proof of Work systems.
Usually, these huge hardware equipment rely on large power consumption given the large amount of data exchanged.
The large energy consumption of many crypto projects, such as Bitcoin, has endangered the blockchain ecosystem for a long time. The potential environmental damage was so great that all unsustainable crypto projects could be stopped.
The big difference given by a ‘green’ cryptocurrency depends precisely on these energy consumptions. There are many projects that have been initiated, and all of them have the same characteristics: an exploitation of renewable energy, and not basing the operation on computation systems that are too polluting.
Coinspot for 2023 recommends eco-sustainability
Coinspot is Australia’s largest and most popular exchange, its platform offers the widest variety of digital asset trading features, including over 370 cryptocurrencies, Crypto Staking, an NFT marketplace, and much more.
The platform was founded in 2013, and is highly regarded for its security and regulatory compliance practices. In fact, the exchange is licensed by AUSTRAC, ASIC and is a gold member of the Blockchain Australia committee.
This year Coinspot has been very outspoken about the future, the exchange predicted that the next digital asset ecosystem will be completely ‘green’. The platform is placing a lot of value on sustainable and environmentally friendly technologies.
Below are three sustainable crypto projects recommended by Coinspot: Cardano (ADA), EOS.IO (EOS), and NANO (XNO).
Cardano (ADA)
It can be called one of the most well-known projects in the field of sustainability, but not only. Cardano was created by scientists and the project was to combine the best of Bitcoin (store of value), Litecoin (fast transactions) and Ethereum (smart contracts) into a single coin. As potential features, the coin has robustness, efficiency and scalability. The rigid scientific process makes the coin highly impactful in the crypto ecosystem.
Cardano is called the eco-sustainable blockchain par excellence. In fact, the network has chosen Proof of Stake (PoS) as its consensus mechanism, rather than Proof of Work (PoW), precisely because of considerations related to energy consumption and environmental sustainability.
EOS.io (EOS)
Speaking of EOS let’s name another prominent project in the crypto ecosystem regarding cryptocurrency sustainability. The EOS project remains important because of its very cutting-edge development team, which continues to add sustainable features to the platform.
In addition to being environmentally friendly, EOS is also very efficient and simple, features that are highly valued by investors. The community has greatly appreciated this project, recalling how EOS can provide more freedom, whether it is financial freedom, business freedom, or freedom of speech.
Nano (XNO)
Nano is a fast and energy-efficient digital currency designed to facilitate the near-instantaneous transfer of funds in a smooth, secure and trust-free manner at zero fees.
Its software aims to provide a decentralized, inflation-resistant peer-to-peer virtual currency that can be sent, spent or accepted anywhere in the world in a highly convenient way. This efficient mechanism allows Nano’s network to use less energy than other digital currencies, providing the world with an environmentally friendly and sustainable currency for a greener future.
According to Coinspot, the future is in the hands of sustainability and ‘green’ crypto assets: 2023 is the right year to invest in sustainability and the choice of energy-efficient projects.
