Darkside of Mining & Eco-Friendly Solutions

Bitcoin, Ethereum, and other cryptocurrencies that work on the proof of work algorithm have an energy and environmental problem. Like other trade commodities, the demand for cryptocurrencies has skyrocketed in the past ten years. We have seen a massive surge not only in crypto but also in NFTs. NFT may be a buzzword for some, but it’s the new hype in the crypto space.

The total market cap of all cryptocurrencies historically crossed the three billion-dollar mark! Bitcoin is riding a tide and is proving itself every day.

The increase in crypto prices has enticed millions of people to take a slice of the crypto pie or at least eat the crypto crumbs without understanding the fundamentals, how it works, or the collateral environmental impact it has.

Many environmental activists have called out traditional crypto mining as detrimental to the environment. They claim mining has a high carbon footprint.

But crypto is a virtual currency, right?

What causes such a massive carbon footprint?

The primary environmental impact of crypto arises from the energy-intensive activities used to complete a transaction or mine new coins. Bitcoin is one of the most energy-intensive coins in the market, with the largest market cap.

In layman’s terms, to complete a transaction, a miner needs to solve a complex mathematical equation that requires heavy data processing. Vast amounts of electricity are drawn to solve the complex algorithms. The mining machines get outdated and require hardware to be replaced, which again incurs cost and leaves a carbon footprint due to wasted resources.

Let’s look at some quick facts about traditional crypto mining:

Bitcoin, along with other cryptos that work on proof of work algorithms, utilizes energy greater than the consumption of some countries.

The majority of Bitcoin mining happens in the United States of America, accounting for 35% of mining globally.

Almost 30 kilotons of hardware or electronic waste are produced annually as a consequence of Bitcoin mining alone.

Renewable energy sources like hydropower account for about 39% of the energy used in Bitcoin mining alone.

The solution to such energy-intensive traditional mining?

There are a few coins that are contributing to a greener environment. Some coins use an alternate algorithm called proof of staking to verify and add transactions on the blockchain. Some crypto can be mined on a traditional laptop or PC, some crypto use custom voting protocols, some offer coins as rewards for every megawatt-hour created by solar technology.

We do it differently, and we do it all around preserving the environment.

Our Spider Miner is the world’s first Multi-Token Eco-Friendly hardware crypto miner!

Our Spider Miner operates at a ludicrous 5 Watts even when operated 24/7/365 and draws electricity similar to a traditional LED bulb. There are no mining costs associated. Just purchase the Miner, plug it in, and you can start mining.

Traditional miners are restricted to mining a single coin, while our Miner can mine five well-established and fully vetted crypto coins at once while drawing minute electricity.

We really care about the environment! That’s why for each Miner sold, we will donate $5 to the Tree-Nation project. This project has already planted over 12 million trees and offsets over 1.5 Billion tons of CO2.

We not only offset your mining carbon emissions but also remove more carbon over the lifetime of the planted trees.

Choose Spider Miner for your eco-friendly mining device that is not only a miner but a VPN and multi-purpose crypto earning machine.

So, what’s stopping you? Head over to our website and pre-order your Spider Miner before it runs out!

Click here: https://miner.spidervpn.org/

--

--

--

SpiderDAO is the industry’s first hardware-enabled DAO that bundles multi-layered hardware and software tools on top of Polkadot. https://spiderdao.io

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

How to Start CPU Mining Verus Coin VRSC from Your Computer in Under 5 Minutes

A Human Rights Activist’s Response to Bitcoin Critics

Order Flow and Volume Profile Trading

Second Airdrop is here

Gold Miner Says Investors Prefer Hedging Against Inflation With Gold, Not Crypto

FOIL NETWORK INCREASES WEALTH

How to Convince Your Parents to Buy You Cryptocurrency

Cryptocurrencies

Think about what Are passive income really is: it will give you that financial freedom that you’re…

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
SpiderDAO

SpiderDAO

SpiderDAO is the industry’s first hardware-enabled DAO that bundles multi-layered hardware and software tools on top of Polkadot. https://spiderdao.io

More from Medium

What is Alnair?

Cronos — what is this network?

Last Chance! New format in crypto trading.

Crypto Smart listing on algodex