5 Green Blockchain Projects We Love

5 Green Blockchain Projects We Love

Walk and lie in the mirror every morning.”

– Unknown

Indianapolis, Indiana, USA, September 30, 2022 /EINPresswire.com/ – To the layman, green cipher sounds like an oxymoron, right?

As an environmental company that puts carbon offsets into the blockchain, we are used to people looking at us a little sideways when we tell them that this is exactly what we want to be, a green blockchain with a purpose.

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

We’ve reached our goal, and in the process we’ve created a win-win scenario for all the players involved, including environmental professionals, companies looking to fulfill carbon pledges, local displaced workers, and of course the environment itself.

However, we don’t fool ourselves into thinking we are the only meaningful blockchain out there. We don’t want to be anyway – when you’re trying to fix the world, you want as much company as possible.

So, below, we’ll shout out five of our favorite green blockchain solutions that are all trying, in their own way, to make the world a little better.

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

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

Built around two major innovations — which they call “gossip about gossip” and “virtual voting” — Shashgraph allows Hedera to provide a fast, fair, stable and secure platform that uses an average of 17,000 kWh per transaction, compared to Ethereal’s 102 KWH and 885 KWH The awe-inspiring of Bitcoin.

Read the last part again — 00017 kWh per transaction for 885 kWh. There are fractures … and then there are fractures of fractures (fractions).

However, this energy efficiency does not slow Hedera down. Quite the opposite, in fact: it averages 10,000 transactions per second, compared to Bitcoin 3, with an average fee of $0.0001 per transaction, compared to Bitcoin of $22.57.

Hedera is not only making a more sustainable and scalable version of the blockchain, but making it more democratic and accessible to ordinary people. Developers can issue and manage exchangeable and irreplaceable tokens, record verifiable event logs for any application or permission framework, and deploy smart contracts in common language to build centralized applications and protocols.

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

Cardano similarly provides blockchain technology with 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 validated mechanisms. According to Cardano, Ouroboros is the “first secure proof-of-stake protocol” that is up to 4 million times more energy efficient than Bitcoin.

But it’s not just about how to do it, but for who it is for.

Cardano envisions itself as the blockchain of choice for change makers, innovators, and visionaries, offering the tools and technologies to foster positive global change and is designed to withstand it. It is, according to its website, the infrastructure of the future.

Their use cases include education, agriculture, government, finance, and health care, demonstrating that real-world problems can be solved with their technologies, particularly in element boycott verification and chain of custody and safety.

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

Like Hedera and Cardano, Stellar also boasts faster, cheaper, and more energy efficient transactions than a typical blockchain, providing another version that is more sustainable and scalable.

However, Stellar emphasizes another key point of differentiation: while other blockchain solutions have been developed to undermine or replace existing financial systems, Stellar is a decentralized system that exists to enhance existing global financial systems by allowing currencies to be traded transparently. The Stellar network does not exist to trade lumens (its original digital currency), it exists to trade all currencies.

Launched in 2014, Stellar has already processed more than 2 billion transactions, for large corporate to single developer companies building global payment applications, asset exchanges, and micropayment services.

this technology (https://www.stellar.org/learn/intro-to-stellar) essentially makes unlimited money, especially useful for international transfers and payments, and end users experience it like cash, not tokens.

People from all over the world can buy and exchange any type of currency using Stellar. For example, Vibrant, based in Argentina, allows inflationary Argentines to buy and hold USDC quickly and with little effort.

These tools can be harnessed by ordinary people to make their lives a little easier, and developers can use them to create the next generation of global financial networks.

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

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

Consider IOTA’s Tangle Network (https://www.iota.org/get-started/what-is-iota) as an open, distributed ledger to support frictionless data and value transfer. It could support actions as diverse as allowing cars to pay for electronic freight or car washes, to help governments and other entities manage natural resources and create 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 more transactions, making the platform cheaper and more scalable than typical blockchains.

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

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

Built as a green blockchain with a focus on environmental impact, Algorand is not only more energy efficient than a typical blockchain, but is also committed to offsetting its (minor) carbon footprint through carbon offsets — something close and dear to us, obviously.

With an emphasis on partnerships with organizations that focus on sustainability, Algorand strives to deliver blockchain technology that will not negatively impact the environment. Groups such as Global Carbon Holding, ClimateTrade and PlanetWatch have all developed the technologies on top of the Algorand platform.

For example, PlanetWatch 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 “ensure that the next generation of blockchain adoption is green.” From their lips to our hearts and (hopefully) God’s ears.

Bottom line: take a walk and look in the mirror every morning

Over the past decade and more, blockchain technologies have created massive amounts of wealth for individuals. We are not here to envy anyone’s earnings. But, at the same time, blockchain also has the potential, when deployed 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 what our goal is – finding new ways to accelerate environmental and business improvement. This is why LBX carbon credits are based exclusively on land remediation, not conservation alone. Since for LBX it wasn’t enough just to put the current and often meaningless carbon offset system on the blockchain, we needed to link it to concrete environmental improvement before we could.

Anyone can say that they are trying to make the world better, but they have to look themselves in the mirror every night and know that this is true. At LBX, we know that’s true, and we’re glad that the five Green Blockchain projects we’ve highlighted can say the same.

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