There is no doubt that technology has revolutionized our planet by influencing the way we do business and live.
The growth of technology has also led to the emergence of inventions and life-enhancing technologies such as smartphones, the Internet of Things and more recently blockchain technology.
The invention of blockchain technology has led to the creation of a whole new industry and market known as cryptocurrencies.
The revolution of the cryptocurrency began with the launch of the first cryptocurrency, Bitcoin, which was launched without pretense on January 3 of the year 2009. Since then, the world has now become aware of the reality of blockchain technology and of its resulting cryptocurrency mining activities.
In the early days, only a small number of people who were keen on cryptocurrency dedicated their extra computer skills to cryptocurrency mining. But today the story is different.
The exponential growth we have seen with blockchain and cryptocurrencies has allowed us to see an increase in cryptocurrency mining that has led to the creation of specialized chips designed only for cryptocurrency mining. This situation has also created a lack of production of hardware for the graphics processing unit.
Since 2009, when Bitcoin has been created up to now, an impressive number of cryptocurrencies has been created.
This, however, created a problem (yes, a problem). This situation has created the problem of an unquenchable and insatiable thirst for more and more electricity required to extract cryptocurrencies to complete the Proof of Work (PoW) cryptographic calculations necessary to protect these networks.
Now that cryptocurrency extraction activities have created a problem of unquenchable thirst for electricity is only part of the problem. Most of the problem is that a large percentage of that power is produced from polluting and non-renewable energy sources.
The situation is really getting worse. Another challenge is that we are rapidly losing one of the main essences of blockchain technology that is decentralization.
At the current rate, mining blockchain and cryptocurrency are gradually moving from a decentralized network to a centralized system because the capacity required to extract cryptocurrencies is so large that it is creating a barrier to entry for small-time miners. that are cryptocurrency mining only a game reserved for large corporations.
Another challenge is that of funds as regulators say they do not get funds when it comes to green energy. To cope with this, companies must step forward now to invest in the XDC currency as a green initiative.
There is a need to create a cryptocurrency mining power that is respectful of the environment and is based on green and renewable energy. This is where the XinFin coin (XDC) comes into play.
Threats to our environment from energy consumption
As we have already said, our world is threatened by the high consumption of cryptocurrency mining activities that are not environmentally-friendly. For example, as in 2017, Bitcoin mining activities consume the same amount of energy as the whole of Denmark. This energy consumption is expected to increase by 2020 and will certainly cause serious damage to our environment.
The current estimated annual energy consumption of Bitcoin mining activities is 71.12 (TWh) while that of Ethereum is 20.61 (TWh).
Our environment is also threatened by emissions of carbon dioxide (CO2) to greenhouse effect. This is mainly due to human activities resulting from the combustion of fossil fuels such as natural gas, oil and coal for transport and energy.
XinFin's currency (XDC) intervenes to save our environment
Saving our environment from damage caused by cryptocurrency mining activities XinFin has a green currency (XDC).
XinFin through the XDC currency is working with a vision to create a truly green currency following the growing concern of governments and environmentalists on the impact of energy consumption on our environment.
XDC would use its green energy farms to generate XDC coins that would use renewable and alternative energy sources such as solar panels, wind turbines, bioenergy and tides. This will provide a constant supply of low-cost green energy to their data centers and services.
In an effort to remain absolutely green energy, the funds received from cryptocurrency generation activities would be used to invest in green energy and green encryption mining companies.
The XinFin project's efforts with XDC have also received recognition and praise including the project's feature on Entrepreneur Global as a green initiative.
XinFin is designing a platform that will accelerate the long-awaited green solution for blockchain technology and the cryptocurrency mining industry and thereby attracting investors from different sectors.
XDC as green coin
The XDC coin stands out as a green coin with the following characteristics and advantages:
Energy saving [19659028] As a green coin, the XDC coin saves energy and does not consume much energy as Bitcoin and other cryptocurrencies that consume a lot of energy.
No proof of work [1] 9659030] The XDC coin does not use the Blockchain Proof of Work system as Bitcoin but instead eliminates the system using PoW to save energy.
Does not require intensive extraction
Like most other cryptocurrencies out there, the XDC currency is extraction-free and does not require an intensive extraction.
Long-term feasibility
The XDC currency as green has the long-term feasibility of an alternative to energy savings, unlike other cryptocurrencies which are achievable over the long term due to their high consumption of power.
Optimal Performance
XDC also produces its work in a faster time and requires a smaller amount of energy better than other coins. This will allow companies and participants to achieve optimal performance.
Token XDC
Under the XinFin platform. The XDC, which is a fork of the quorum, is exchangeable with XDCE which is a token based on ethereum. The token has a total token of up to 100 billion XDC tokens.
Conclusions
With the increasing popularity of cryptocurrencies and the high cost of energy required to extract them, there is no better time than now to start looking for
Green coins are now a viable an alternative to coins that consume a lot of energy and XinFin through its platform has developed a viable alternative by creating the XDC currency as a green coin to be extracted through completely renewable energy sources, a paradigm shift from energy-consuming currencies such as Bitcoin , they are important now.
