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[Jenelle Doloris]

Anyone knows that cryptocurrency is the currency of the future. But it is also a possibility to cause huge damage to the environmental system. Cambridge University experts have concluded that mining is the biggest environmental concern.

Bitcoin is a good example. It consumes more energy per unit than Argentina's total and it's unlikely that the number will fall within the next few years.

The carbon footprint of mining farms in China will exceed that of Phillipine in 2024. Bitcoin was the first cryptocurrency that utilized technology known as proof-of-work. But, as with any new technology, it's not the ideal choice. Presently, more modern blockchain platforms are using proof of stake technology.

What are Proof-of-Work and Proof-of Stake?

Proof of Work and Proof of Stake

They are among the most commonly utilized cryptocurrency. They provide two distinct proofs of the work.

Proof-of Work is a technique for protecting the cryptocurrency network based on the idea of identifying solutions to essential tasks performed by its members.

Proof-of-Stake technology is used for protecting cryptocurrency networks in which the block's participant within the chain is identified by the percentage of coins within their total.

Both systems have their advantages as well as disadvantages. PoW technology is extremely energy-consuming, resource-intensive, and consequently, modern blockchains prefer PoS.

Does Cardano use PoS technology?

For instance, Cardano is a 3rd generation public blockchain. Cardano is a 3rd-generation public blockchain that can solve problems such as (scalability large energy consumption) Cardano uses Proof-of-Stake technology which uses less energy. It is also crucial to keep in mind that the ADA Cardano cryptocurrency is not mined, i.e. in simple terms it's not mined, for example like Bitcoin.

Cardano is a brand new cryptocurrency.

Cardano Charles Hoskinson

Along with the Cardano Foundation, the eco-project Cardano Forest has raised funds starting on January 10, 2022 to plant one million trees at Madagascar, Indonesia, Kenya and Nepal by using the ADA cryptocurrency.

"Cardano Forest has been 100 percent funded. One million trees will be registered on the Cardano blockchain. Frederik Gregaard (CEO of the Cardano Foundation) wrote on Twitter that our achievement was proof of the environmental restoration efforts.

What exactly is Veritree?

Veritree is a startup which assists businesses, companies as well as consumers to raise money to help restore the earth's ecosystem. Veritree is a partner https://www.washingtonpost.com/newssearch/?query=crypto with plant-growing organizations, which standardizes the gathering, management, loading, confirmation and distribution of information and evidence to both crypta.news/%d1%87%d0%b5%d1%80%d0%bd%d1%8b%d0%b9-%d0%b4%d1%80%d0%b0%d0%b3%d0%be%d1%86%d0%b5%d0%bd%d0%bd%d1%8b%d0%b9-%d0%ba%d0%b0%d0%bc%d0%b5%d0%bd%d1%8c-%d0%b2-555-%d0%ba%d0%b0%d1%80%d0%b0%d1%82-%d1%81%d0%b0/ parties.

What's the secret to it?

The system is fairly easy to use. Veritree, a cryptocurrency-based startup, and the Cardano Foundation plant a tree for every TREE token , which can be exchanged against an AD token. Each TREE token makes one tree. The minimum purchase amount is 15 ADA tokens. The TREE token is then able to be traded for non-interchangeable tokens, or digital trees (NFT).

According to the most recent data from the startup Veritree the highest sale amount is 100,000 ADA (which is about $111 thousand).