The Expanding Energy Demands of Cryptocurrency
As the cryptocurrency market peaks and gallops ahead at breakneck speed, it’s not merely financial analysts who are scratching their heads—environmentalists are too! Bitcoin, the prodigy of this digital revolution, threatens to use up more energy annually than some entire countries! Yes, you heard it right! Good old Peru could soon find itself in the shadow of Bitcoin’s energy insatiability. This isn’t merely a statistic to brush off; it’s a wake-up call for the industry.
4NEW: Transforming Waste Into Energy
Enter 4NEW, a knight in shining blockchain armor, claiming to be the world’s premiere eco-friendly blockchain solution. Their secret weapon? Turning waste into energy, a technology that’s been around for over 70 years! With 83 independent waste-to-energy plants operating across the U.S., their model is tried and true. Imagine transforming rubbish into resources while raking in profits from energy sales? Sounds like something right out of a superhero movie, doesn’t it?
How 4NEW Works: The Nuts and Bolts
4NEW’s master plan revolves around the unique KWATT token, representing 1kW of electricity each year. The ICO may have launched in 2018, but their ambitions continue to surge forward. With plans to open two renewable-powered mining sites in the UK, they aim to crank out a whopping 10 megawatts of electricity per hour, scaling up to 40. It’s like watching a diesel engine chug away and suddenly shift gears into a rocket-powered jet!
Stability in an Unstable Market
Given that 4NEW generates its own energy, they can establish a fixed price for their crypto energy. This is a game-changer compared to traditional miners who have to purchase energy from fluctuating external sources. Want to sell your KWATT? No problem. Keep it to use in-house? You do you, my friend! This flexibility is an enticing feature for would-be investors.
The Imperative Shift to Renewable Energy
If recent statistics are any indication, the crypto world is running on borrowed time regarding energy consumption. The Bitcoin network’s appetite for energy has increased astronomically, and statistics show it now consumes energy equivalent to that used by 17.5 US households. That’s right; Iceland is ironically using more energy on crypto mining than it does on heating homes! It’s shocking! If we fail to transition to renewable energy solutions, the consequences will not just hover over our heads—they’ll plummet down like an anvil.
The Future Potential and Challenges
So where does that leave us? If 4NEW’s operations continue to flourish, we could see a significant reduction in energy costs linked to crypto, especially for mining farms that typically stick to less-than-eco-friendly sources like coal. With a team boasting over 300 years of combined experience in crypto and blockchain junkie lands, their ambitions could very well turn into an industry standard.
But let’s not kid ourselves! The transition won’t be seamless. It’s like trying to change a flat tire while driving down the highway. But if anyone can steer us in the right direction, it might just be 4NEW!
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