Everything happens at the stance of energy, of late Ripple have placed emphasis on the importance of reducing energy consumption. However, it has been reinstated by the community members that XRP is a green digital asset in more ways than one.
Ripple tweeted: “As blockchain becomes more widely adopted, it’s critical for the industry to implement practices that actively reduce energy consumption to ensure our future.”
XRP was created with sustainability in mind. It is inherently a green currency. This is also considered to be an important reason apart from utility, which is expected to permit XRP to excel. However, there are several people who do not even care about this point. Investors are not happy with the price though for whatever reasons.
If green should be the point, this could be the reason for several countries to ban proof of work cryptos which are not energy efficient. All of these are about producing less carbon for the ozone. For those who are not going to agree with this, is like people who stated that diesel cars would not be banned. While this is the opinion of some of the community members, there are others who opine that it would be like kidding ourselves to believe that the earth hangs over the balance facilitated by BTC.
Sydney Ifergan, the crypto expert tweeted: “The environmental impacts of producing cryptocurrency are crucial and it needs to be addressed. Whether it is about sustainability of Ripple XRP, Bitcoin or others, it matters to discuss sustainability of producing them.”
Reducing energy consumption is important to ensure a safe tomorrow. The puzzles of having to deal with mining costs are getting to be complex by the day. Consensus permits for the formation of a common agreement based on which the transactions are executed in order. So much of energy in PoW is focused on dealing with the double-spend problem.
Ripple (XRP) Serving Unbanked Sustainably
In the recent Ripple Block Stars podcast, it was discussed as to how several enterprises and consumers are climbing onboard on the blockchain train.
Brad Garlinghouse opined that it is unacceptable for those who have the least are actually those who are having to pay the most. It has been stated that remittances have been long underserved by traditional finance, though they make a huge part of the global economy. He also reinstated that Ripple XRP is the first place to begin helping the unbanked.
While all cryptocurrencies are created with a useful purpose in mind, ultimately they need to be useful without creating harm to the environment.
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