logo

FX.co ★ “Green” cryptocurrency Cardano to take over Bitcoin?

“Green” cryptocurrency Cardano to take over Bitcoin?

“Green” cryptocurrency Cardano to take over Bitcoin?

Eco-friendly mining has recently come into focus in the crypto world. Today, the environmental impact of mining is high on the agenda. That is why many crypto investors take this criterion into account when building their portfolios. In this regard, the little-known cryptocurrency Cardano has an upper hand over Bitcoin and Ethereum. According to CoinMarketCap, Cardano’s market capitalization stands at $86.47 billion. In a fairly short time, the cryptocurrency has become the third largest digital asset as miners are looking for more climate-friendly options. Cardano is a blockchain platform that has its own cryptocurrency called ADA. The token is named after Ada Lovelace, a 19th-century British countess known for her work on a theoretical computing machine. She is considered the first programmer in the world. While Bitcoin mining consumes nearly 77.78 terawatts per hour, roughly an annual output of Chile, Cardano consumes only 0.006 terawatts. The difference is striking. Emissions from Bitcoin mining are estimated at over 57 million tonnes of CO2 per year which is about the same annual carbon footprint as of a small European country. Iran and China banned all crypto mining this summer because “computers used in the process were sapping too much electricity and causing power cuts.” Cardano mining stands out when it comes to energy efficiency. The “green” feature of Cardano is not the only reason for its growing popularity. Another bullish factor for the digital coin was its listing on the Tokyo Stock Exchange. Japan’s exchange is considered to be one of the strictest trading floors in terms of entering the market.


*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Open trading account