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The cryptocurrencies have changed the way we view fiat currencies and the way money is transferred today. Moreover, these digital resources have proven to be a passive income (remember that Ripple's XRP was the most profitable currency of the last year, so it has changed many lives) for many because of the huge profits they have earned. Without doubt, most of these cryptocurrencies must be extracted before they are reached.
When you hear about "crypto-mining", what comes to mind will be a high consumption of energy. Based on some factors, including the use of energy and the way some could be eco-compatible, there is a big difference between Ripple, Bitcoin and traditional Visa technology.
Ripple, Bitcoin and Visa Energy consumption
Not long ago, a team of cryptocurrency experts made a research into how our money can be green. The study was centered on some cryptocurrencies and Visa. With regards to the use of electricity, many people and research have concluded that Ripple's XRP token is environmentally friendly, as it does not use high energy compared to Bitcoin and Visa. It is important to know that the annual energy consumption shows that Bitcoin uses 26.05 TWh and Visa uses 0.54 TWh.
However, XRP, which consumes little electricity, uses 0.000536112 TWh of electricity. For a better understanding of this, take a look at the number of homes in the United States; the ranking remains that XRP has the ability to feed only fifty homes, on the other hand, Bitcoin can feed just under 3 million homes.
In addition, according to the survey, it was revealed that the total cost acquired in the energy used in (US dollars) in the year marks a big difference between the three. XRP only costs USD 64,000 while Bitcoin costs USD 3 billion and Visa USD 64 million a year.
Other comparisons
According to the research work, Bitcoin relies on proof-of-work (PoW), which means that many computational efforts are needed. Moreover, PoW usually involves many servers that try to solve highly complex mathematical equations to produce new blocks in the blockchain system for the production of new tokens (which is the reward for mining).
PoW requires a high energy consumption with a higher transaction fee and its systems are particularly associated with a high consumption of energy, electricity, carbon dioxide emissions and transfer costs.
On the other hand, Ripple makes use of Proof-of stake (Pos), which does not use a lot of energy, electricity, transfer costs and so on. It is necessary to add that BTC emits 144 pounds of CO2 per transaction, Visa emits 0,00794 pounds of CO2 per transaction, while Ripple emits only 0,0000138 pounds of CO2 per transaction, according to the research.
Finally, the study also stated that it is good to run a server on the Ripple protocol because it does not have high transaction fees and the cost of electricity is low because it does not use a lot of energy. Ripple has great utility that makes it a better choice for today's investors.
Visa uses a lot of energy from XRP – do not be surprised, despite the praises on the Visa network. Ripple is economical, not only, it is environmentally friendly and efficient.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Moreharmony / PixaBay
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