Wednesday, December 6, 2023
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

Ripple lambasts Bitcoin and Ethereum, showcases XRP as the most eco-friendly currency

by firstcryptonews
April 27, 2020
in News
Ripple lambasts Bitcoin and Ethereum, showcases XRP as the most eco-friendly currency

Ripple published a commemorative report about the Earth Day anniversary, briefly explaining the sustainability of various currencies and their environmental impacts, showcasing XRP as the most eco-friendly.

The San Francisco-based startup explained that excessive printing of paper money is not sustainable over time. They emphasized that excessive deforestation and the use of various elements necessary for the production of banknotes has serious consequences for the environment.

As an example, Ripple says “It’s estimated that the average lifespan of a $5 bill is only 16 months” before they are taken out of circulation and reprinted.

Likewise, physical coins also have their share in the world’s pollution. The mining of metals and the energy costs involved in manufacturing new coins also make this method detrimental to society. Ripple explains that at the end of the day, the greenest alternative for the traditional banking system relies on debit and credit cards.

Despite being made of plastic, cards are less harmful to the environment because they have a longer lifespan —almost 8 years until expiration— and do not carry the same production or raw material costs as traditional coins, causing less environmental damage.

Cryptocurrencies are just better currencies
…But not all cryptocurrencies will help the environment.

Focusing on the two most widely adopted cryptos, Bitcoin and Ethereum, Ripple noted that PoW mining —the process of adding transaction records to the general ledger called the Blockchain— is required for extraction, which carries high energy and electricity consumption; “the cost of producing one coin could power almost four U.S. homes for a day”.

Ripple noted that unlike other currencies, XRP does not need that massive amount of energy to circulate so it can be “one of the most sustainable forms of currency available”.

“Unlike Bitcoin or Ethereum, XRP is not a mined digital asset. Every unit of currency that exists now has already been created … XRP is an incredibly efficient and sustainable form of currency”

Even though the Ripple shot could be seen as an XRP promotion tactic, it is yet another indicator of why cryptocurrencies should be more adopted worldwide as they cause less damage to the environment than traditional fiat production.

XRP is currently trading at $0.195 and has not yet been able to recover from the crash of 2018.

Despite Ripple’s efforts to encourage its adoption, the token closed in 2019 as The Worst-Performing Altcoin in the Top 10 by market cap, a trend that continued during Q1 of 2020.

Related Posts

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

by firstcryptonews
September 6, 2023
0

ElmonX is making waves in the NFT sector once more, drawing the attention of enthusiasts with the exciting announcement of...

VeVe Debuts Digital Collection from Award-Winning Artist Nathan Sawaya in collaboration with ElmonX

VeVe Debuts Digital Collection from Award-Winning Artist Nathan Sawaya in collaboration with ElmonX

by firstcryptonews
August 17, 2023
0

London, United Kingdom, August 17th, 2023, ElmonX, has once again caught the attention of everyone following the NFT Sector with...

ElmonX Introduces The Charles Salvador ‘Bronson’ NFT Collection — Unleashing Creativity, Healing, and Transformation

ElmonX Introduces The Charles Salvador ‘Bronson’ NFT Collection — Unleashing Creativity, Healing, and Transformation

by firstcryptonews
August 14, 2023
0

ElmonX is set to exclusively launch four distinct digital collectibles created on prison paper, offering a unique opportunity to own...

GRAND ANNOUNCEMENT: THE SPECTACULAR KICKOFF OF IEO STAGE 2!

GRAND ANNOUNCEMENT: THE SPECTACULAR KICKOFF OF IEO STAGE 2!

by firstcryptonews
August 4, 2023
0

🎉🚀 Welcome to the Amazing Referral Game Session! 🚀🎉 Dear friends, we have exciting news for you! The second stage...

Exclusive “Salvator Mundi” by Leonardo da Vinci To Release  In 3D and Augmented Reality on ElmonX

Exclusive “Salvator Mundi” by Leonardo da Vinci To Release In 3D and Augmented Reality on ElmonX

by firstcryptonews
August 6, 2023
0

The world’s most expensive art piece ever sold (USD USD 450,312,500) – Salvator Mundi is releasing as an NFT on...

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

Interest-Bearing Bonds-Backed Tokens: Generate yield using tokens backed by sovereign bonds

by firstcryptonews
January 16, 2023
0

Vaduz, Liechtenstein. Decentralized Finance Innovator Mimo is launching “KUMA Protocol”: the first DeFi protocol issuing tokens backed by regulated NFTs, themselves...

Next Post
Why Cardano (ADA) was Rated As ‘Excellent’ In Technology-Wise By Weiss Crypto Ratings

Why Cardano (ADA) was Rated As ‘Excellent’ In Technology-Wise By Weiss Crypto Ratings

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Introducing BETHEL: The Future of Decentralized Data Management

Introducing BETHEL: The Future of Decentralized Data Management

4 months ago
Dexify: Why Asset Management is better Decentralized, with AI, DeFi and Web3 at the helm.

Dexify: Why Asset Management is better Decentralized, with AI, DeFi and Web3 at the helm.

10 months ago
bitcollar

Bitcollar, An innovative blockchain platform focused on All-in-one Crypto payment globally, has officially announced an upcoming IEO that will take place during three rounds from November 1st through December 4th on P2PB2B.

4 years ago
The Neon God’s NFT Collection Will Inspire Generations

The Neon God’s NFT Collection Will Inspire Generations

11 months ago
PAN TALK

Pando Software Inc’s Pantalk and Google Play surpassed 100K downloads

2 years ago
Vibravid Beatzcoin

TRON-based BeatzCoin (BTZC) Releases Major VibraVid.io Platform Update

4 years ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

ElmonX Unveils ‘Moona Lisa’: A Digital Collection by World-Famous Street Artist Nick Walker

September 6, 2023

Press Release

Revolutionizing AI: ALAYA AI’s Sustainable Community Business Ecosystem

Revolutionizing AI: ALAYA AI’s Sustainable Community Business Ecosystem

December 6, 2023

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News