Connect with us
Active Currencies 14902
Market Cap $2,246,859,084,993.70
Bitcoin Share 50.86%
24h Market Cap Change $-1.09

Decarbonice offsets the environmental impact of existing cryptocurrencies

4min Read

Share this article

Among the soundest arguments against cryptocurrencies is the high degree of electricity consumption of PoW blockchains, especially when it comes to mining. It remains a problem that is yet to be overcome if we want to see widespread cryptocurrency adoption in our daily lives.

According to multiple reports including Forbes, Columbia Climate School, and the official website of the Whitehouse to name a few, the total electricity consumption from cryptocurrencies sits between 120 and 240 billion kilowatt-hours per year. This is more than the electricity demands for a large country such as Argentina and Australia. From a monetary standpoint, this number represents a GDP higher than the one of a small country (such as the Bahamas for example). The Bitcoin blockchain remains the biggest consumer with over 161 terawatt hours consumed just in 2022.

Most tokens today are based either on the Ethereum or Binance Smart Chain blockchains. Ethereum remains an industry favorite, and despite the merge in 2022, which brought down its electricity consumption considerably, it would still be considered high if we were to see a worldwide adoption of cryptocurrency payments for multiple goods and services, as well as a rapid expansion of the dApp ecosystem. If we consider traditional VISA transactions, Ethereum remains largely inefficient from an energy cost standpoint.

Furthermore, Ethereum 2.0 did not come without a cost – the network became much more centralized than before, which is a concern to many, raising the question of whether the merge would have been necessary if one of the decisive factors for its implementation – the high electricity consumption – was presented differently.

One novel blockchain project in the energy sector has come up with a disruptive model that is aimed at resolving the electricity issue cryptocurrencies are associated with and, beyond that, to provide a holistic approach to the democratization of cheap green energy.

Decarbonice and the PNE token

Decarbonice is a novel cryptocurrency project that creates an energy ecosystem based on the first-ever climate-positive token. The project lowers the entry barriers to the clean energy sector for households and businesses of all sizes and thus provides them with the opportunity of becoming energy independent at low initial investments and risk.

Investors receive high-quality renewable energy installations free of charge, only against locking collateral in the PNE token that appreciates over time and yields rewards similar to staking. PNE holders can produce their clean energy, save between 20% and 80% on their energy bill and acquire full ownership of the hardware units after the expiration of the locking period of the tokens.

The PNE token is the first on the crypto market that essentially produces more energy than it consumes while taking into account its full environmental impact – from the transactions on its parent Ethereum network to any energy the Decarbonice project consumes alongside its full operational chain.

With the scaling of the Decarbonice ecosystem, every single PNE token essentially represents a higher amount of energy because the total supply is capped and the token is deflationary through periodic burning rounds. The company will also be eligible for the issuance of CO2 certificates that are also positively correlated to the expansion of the ecosystem. Selling these certificates will provide the company with additional cash flow, the revenue of which will be further invested into supporting the token through buybacks and more burning rounds.

The PNE token has a wide array of use cases within the Decarbonice ecosystem. It is primarily used as a collateral tool that secures the initial costs of the hardware units supplied by the project to its investors, but it also yields various rewards to its holders such as cash backs, discounts, bonuses, and other advantages.

The net-positive result of each PNE token gives it additional use cases beyond the utility implementations within the ecosystem. It essentially can be used as an investment vehicle for those who wish to include sustainability investments in their portfolios. Furthermore, the PNE token can be used as an impact offsetting tool that cryptocurrency investors can use to mitigate the negative influence cryptocurrency mining causes. This is especially useful for bigger players concerned about their image from a sustainability standpoint and impact-first investors prioritizing new visionary concepts supporting the environmental targets of policymakers and organizations.

Decarbonice is trying to provide the cryptocurrency market with a solution to one of its most pressing issues high energy consumptions. The project is also introducing a disruptive model that is aimed at introducing a new way for households and businesses to become energy independent. To learn more about the project, visit www.decarbonice.io and consider subscribing to the newsletter to be up to date with the latest developments surrounding the latest initiative in clean energy. 

Disclaimer: This is a paid post and should not be treated as news/advice.

Share

Jacob is a sponsored content writer at AMBcrypto whose interest lies in blockchain technology and its impact on the changing global economy.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.