Cryptocurrencies are often criticised for having a negative impact on the climate and environment. Most of such criticism is related to Bitcoin. For example, according to different studies, Bitcoin’s mining process based on the Proof of Work (PoW) system has resulted in:
- Bitcoin network using more electricity than certain countries as Australia and Greece
- Most of Bitcoin’s mining process being based in China and often supplied by coal power plants
- That one Bitcoin transaction generates around the CO2 equivalent to around 700,000 – 750,000 swipes with a Visa credit card.
These are some mind-blowing facts and hopefully, Bitcoin can become greener and more sustainable if its community can reach a democratic consensus about Bitcoin’s future. What has been proven as a better alternative to PoW when it comes to carbon footprint and climate impact is the Proof of Stake (PoS) system.
Seeds are operating on PoS called “planting,” since the core idea is that the economy functions similarly to a life-cycle of a plant – planting, growing, harvesting. All SEEDS citizens, residents and visitors are therefore able to plant Seeds in order to stake within the community.
Since Seeds is a “cryptocurrency for the climate” and regenerative planetary development, it is vital that the electricity usage and energy emissions are kept as low as possible. The current usage based on the TLOS blockchain network is estimated to be low compared to older proof-of-work models as Bitcoin. For example, TLOS ecosystem is only using 21 validators at the moment, comparing to around one million Bitcoin miners!
SEEDS will continue to improve the operating system for the future. Therefore, Seeds is not only a climate-friendly alternative to cryptocurrencies like Bitcoin, Ethereum and Dash, but also a community aiming for continuous regeneration and sustainability of our planet.
