5 Green Blockchain Projects We Love


WALK THE PROMENADE AND LOOK AT MYSELF IN THE MIRROR EVERY MORNING”

– UNKNOWN

INDIANAPOLIS, IN, USA, September 30, 2022 /EINPresswire.com/ — To the average person, green crypto seems like an oxymoron, right?

As an environmental action company that puts carbon offsets on the blockchain, we’re used to people looking askance at us when we tell them that’s exactly what we want to be, a green blockchain with a purpose.

But that is exactly what we have tried to create at the Land Betterment Exchange (LBX), by tokenizing carbon offset credits achieved through land remediation and restoration of affected land abandoned by fossil fuel companies.

We found our purpose and, in the process, created a win-win scenario for all stakeholders, including environmental specialists, corporations seeking to meet carbon promises, displaced local workers, and of course, the environment itself.

However, we are not fooled into thinking that we are the only useful blockchain out there. We wouldn’t want to be anyway – when you’re trying to fix the world, you want as much company as possible.

So, below, we are going to mention five of our favorite green blockchain solutions that are trying, in their own way, to make the world a little better.

1. Hedera (https://hedera.com/)

Hedera relies on its revolutionary hashgraph consensus mechanism (https://hedera.com/how-it-works) to deliver faster and cheaper transactions at a fraction of the typical blockchain power cost.

Built around two key innovations, which they call “gossip on gossip” and “virtual voting”, the hashgraph enables Hedera to provide a fast, fair, stable and secure platform that uses an average of 0.00017 KWH per transaction, compared to Ethereal’s 102 KWH. and a staggering 885 KWH of Bitcoin.

Read that last part again: 00017 KWH per transaction v. 885 KWH. There are fractions… and then there are fractions of fractions (of fractions).

However, this energy efficiency does not hold Hedera back. Quite the opposite, actually: It averages 10,000 transactions per second, compared to Bitcoin’s 3, for an average fee of $0.0001 per transaction, compared to Bitcoin’s $22.57.

Hedera is not only producing a more sustainable and scalable version of the blockchain, but making it more democratic and accessible to ordinary people. Developers can create and manage fungible and non-fungible tokens, record verifiable event logs for any application or permissions framework, and implement smart contracts in popular language to create centralized applications and protocols.

2. Cardan (https://cardano.org/)

Similarly, Cardano provides blockchain technology at a fraction of the financial and energy costs associated with the industry.

It is built on top of ouroboros (https://cardano.org/ouroboros/), a peer-reviewed protocol based on behavioral psychology, economic philosophy, and mathematically verified mechanisms. According to Cardano, ouroboros is the “first provably secure proof-of-stake protocol” and is up to 4 million times more energy efficient than Bitcoin.

But it’s not just how it’s done, it’s who it’s for.

Cardano sees itself as the blockchain of choice for changemakers, innovators, and visionaries, offering the tools and technologies to foster positive global change and built to last. It is, according to its website, the infrastructure of the future.

Its use cases include education, agriculture, government, finance, and healthcare, demonstrating that real-world problems can be solved using its technologies, particularly when verifying the province, chain of custody, and security of an item.

3. stellar (https://www.stellar.org/?locale=en)

Like Hedera and Cardano, Stellar also features transactions that are faster, cheaper, and more energy efficient than the typical blockchain, offering another more sustainable and scalable version.

Stellar, however, emphasizes another main point of distinction: while other blockchain solutions were developed to undermine or replace existing financial systems, Stellar is a decentralized system that exists to improve existing global financial systems by enabling transparent currency trading. . The Stellar network does not exist to trade Lumens (its native digital currency), it exists to trade all currencies.

Launched in 2014, Stellar has already processed more than 2 billion transactions, from large enterprises to single-developer companies building global payment apps, asset exchanges, and micropayment services.

This technology (https://www.stellar.org/learn/intro-to-stellar) essentially makes money borderless, and is particularly useful for remittances and international payments, and is experienced by end users as cash, not tokens.

People from all over the world can buy and trade any type of currency using Stellar. For example, an Argentina-based company, Vibrant, allows Argentines experiencing inflation to buy and hold USDC quickly and with little effort.

Ordinary people can take advantage of these tools to make their lives a little easier, and developers can implement them to create the next generation of global financial networks.

4.IOTA (https://www.iota.org/)

IOTA’s name should tell you everything you need to know about its blockchain solution: it is designed for devices, such as sensors, to participate in low-energy networks (IOT = Internet of Things). This means that, at its core, IOTA is a trusted layer network for exchanging value and data between humans and machines.

Think of the IOTA Tangle network (https://www.iota.org/get-started/what-is-iota) as an open, distributed ledger to support frictionless data and value transfers. It can support actions as varied as allowing cars to pay for their own electronic charging or car washes, to helping governments and others manage natural resources and establish more transparent public services.

And the best part is that there are no blocks and no mining. When a user submits an IOTA transaction, it validates two other transactions, making the platform cheaper and more scalable than typical blockchains.

5. Algorand (https://www.algorand.com/)

Algorand was designed from top to bottom with the environment in mind.

Built as a green blockchain with an environmental impact approach, Algorand is not only more energy efficient than the typical blockchain, but is also committed to offsetting its (tiny) carbon footprint through carbon offsets, something near and dear to us, obviously.

Emphasizing partnerships with sustainability-focused organizations, Algorand strives to offer blockchain technology that does not negatively impact the environment. Groups such as Global Carbon Holding, ClimateTrade and PlanetWatch have built technologies on Algorand’s platform.

PlanetWatch, for example, has built a global network of affordable air quality sensors that can validate, filter, and display data in real time.

At the end of the day, Algorand’s mission, according to its CEO, is nothing less than “ensuring that the next generation of blockchain adoption is environmentally friendly.” From his lips to our hearts and (hopefully) to God’s ears.

CONCLUSION: GO FOR A WALK AND LOOK IN THE MIRROR EVERY MORNING

For more than the last decade, blockchain technologies have created vast amounts of wealth for individual people. And we are not here to envy anyone their earnings. But at the same time, blockchain also has the potential, when implemented for the right purposes with the right technology, to tangibly improve the world around us: society, the economy, and the environment.

At LBX, we know our purpose: to find novel ways to accelerate environmental improvement and action. That’s why LBX carbon credits are based solely on land remediation, not just preservation. Because for LBX, it wasn’t enough to just put the existing, often pointless carbon offset system on the blockchain, we needed to connect it to a tangible environmental improvement before we could do that.

Anyone can say that they are trying to improve the world, but they have to look in the mirror every night and know that it is true. At LBX, we know it’s true, and we’re glad that these 5 Green Blockchain projects we’re highlighting can say the same.

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