One of the most significant issues the crypto industry faces is its environmental impact. Big Eyes Coin, Ethereum, and many others are all doing their part to combat this, however even in doing so, the industry still faces issues.
With Bitcoin still leading the industry by a significant margin, and the technology behind the project being a major factor in the overall perceptions of crypto's negative environmental impact, it is important to look further into it.
In this article, we will be looking at the technology behind Bitcoin and the environmental impact it is having, before seeing how Ethereum and ERC-20 meme token Big Eyes Coin are doing their part to fight for environmentally-aware crypto practices.
Advertisement
How Proof-of-Work Is Causing Bitcoin To Waste Excess Energy
As the original cryptocurrency, it is no surprise that the technology Bitcoin has been built on has become somewhat outdated in the current economy. Proof-of-Work is a validation system that allows anyone to validate Bitcoin transactions so long as their technology is competitive, which while great in theory, has turned into somewhat of a nightmare in the modern day.
With so many validators working for Bitcoin rewards, and the necessity for the best machines possible to even be in with a chance of success, Bitcoin validation has transformed into a technological arms race that results in sky-high energy use and energy waste per transaction. This also is why Bitcoin transactions are so often time-consuming and expensive.
Advertisement
Consider the following: according to data from Solana, each Bitcoin transaction requires over 5 Billion joules of energy to complete. Running the average U.S. household for a year uses 38.6 Billion joules.
The Merge Gives Ethereum An Edge In Environmental
With the damage caused by the Proof-of-Work validation system, it is no surprise that crypto juggernaut Ethereum made the decision to make the shift over to the far more environmentally friendly Proof-of-Stake validation system, via The Merge which was completed earlier this year.
This system greatly reduces the number of machines involved in the validation process, reducing the energy output of Ethereum transactions to just 144,000 joules. According to Ethereum's estimations, their energy consumption has reduced by 99.95% thanks to The Merge, allowing Ethereum to continue operations in a far more environmentally conscious manner.
Why Can't Bitcoin Switch To Proof-of-Stake?
The solution to Bitcoin's biggest issue seems obvious: if a network as extensive as Ethereum can switch its validation protocol, why can’t Bitcoin?
Simply put, due to the age of the technology used by Bitcoin, the network would be nearly impossible to shift to a new validation protocol. This, combined with the fact that the creator of Bitcoin is still anonymous, makes contacting the original creator to request this shift near-on impossible, leaving a shift like The Merge a far dream for the Bitcoin network.
Big Eyes Coin Sets Its Sight On Saving The Oceans With Bold Charity Scheme
Following on from Ethereum, there is the ERC-20 meme token Big Eyes Coin, which is utilising the blockchain's low energy output to push its own ecological message.
Advertisement
Having chosen to build itself on the Ethereum network in part due to the benefits presented by The Merge, Big Eyes Coin has big goals of saving the planet, with the new and improved Ethereum being a great blockchain to help see this through.
Big Eyes Coin is a project on a mission: to save the world's oceans, to save the fish. This will be achieved via the Big Eyes Coin charity wallet, which holds 5% of all BIG tokens. The higher the value of BIG becomes, the higher the value of the donation, meaning that it is in the project's best interest to grow and expand as widely as possible.
Advertisement
Big Eyes Coin is still in its early stages, meaning that now is the perfect opportunity to get involved for the opportunity to make big returns in the future. The project has raised over $5 Million, with this set only continue rising as the project works through its fourth stage of the presale.
Better still? With code BIGOCT22, buyers can benefit from 5% off token purchases, making getting involved with Big Eyes Coin now better than ever.
Want to know more? Then follow the links below:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
