Sustainable Cryptocurrencies

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by Ashok Balasubramanian dot icon Updated: Sep 1, 2021

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Did you know Bitcoin consumes more electricity than the whole country of Sweden? Bitcoin compares to over 10 times the global solar and wind energy produced. On a global scale, Bitcoin uses 0.66% of all electricity consumed worldwide. That is huge for a new-age digital currency!

The core issue in cryptocurrencies has been mining. Most cryptocurrencies rely on a computational competition called Proof of Work (PoW). In this model, participants are rewarded with cryptocoins for adding transactions to the blockchainÆs globally distributed ledger. More computational capability means a higher chance to earn more cryptocoins. Application-specific ICs (ASICs) that accelerate mining, concentrated power over many cryptocurrencies. EthereumÆs ether-mining algorithm penalizes the use of ASICs.

However, turning towards energy-efficient approaches, proof of stake (PoS) is a credible alternative to the PoW approach. Replacing the concept of all processors processing duplicate transactions, PoS randomly picks one to do the job to make this efficient. The validatorÆs stake or collateral ensures the authenticity of the validation.

kandi collection on Sustainable Cryptocurrencies, lists energy efficient cryptocurrency libraries for you to try. Each may follow different approaches to improve sustainability over Bitcoin.

For other cryptocurrencies or specific implementations, search on kandi.

Source credit for Bitcoin energy comparisons: https://cbeci.org/cbeci/comparisons

Proof of Stake Approach

eos by EOSIO, go-algorand by algorand, cardano-node-docker by abracadaniel, and metahash-fullnode-client by metahashorg are popular cyptocurrencies leveraging the Proof of Stake approach.

eosby EOSIO

C++ doticonstar image 11329 doticonVersion:v2.0.13doticon
License: Permissive (MIT)

An open source smart contract platform

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            eosby EOSIO

            C++ doticon star image 11329 doticonVersion:v2.0.13doticon License: Permissive (MIT)

            An open source smart contract platform
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                      go-algorandby algorand

                      C doticonstar image 1251 doticonVersion:v3.16.2-betadoticon
                      License: Others (Non-SPDX)

                      Algorand's official implementation in Go.

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                                go-algorandby algorand

                                C doticon star image 1251 doticonVersion:v3.16.2-betadoticon License: Others (Non-SPDX)

                                Algorand's official implementation in Go.
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                                          cardano-node-dockerby abracadaniel

                                          Shell doticonstar image 94 doticonVersion:Currentdoticon
                                          no licences License: No License (null)

                                          Docker container for setting up and running a Cardano Stake Pool

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                                                    cardano-node-dockerby abracadaniel

                                                    Shell doticon star image 94 doticonVersion:Currentdoticonno licences License: No License

                                                    Docker container for setting up and running a Cardano Stake Pool
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                                                              C++ doticonstar image 11 doticonVersion:v1.15.0-betadoticon
                                                              no licences License: No License (null)

                                                              This repository contains Metahash Fullnode Client's source code written in C++.

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                                                                        metahash-fullnode-clientby metahashorg

                                                                        C++ doticon star image 11 doticonVersion:v1.15.0-betadoticonno licences License: No License

                                                                        This repository contains Metahash Fullnode Client's source code written in C++.
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                                                                                  Block Lattice Technology

                                                                                  nano-node by nanocurrency leverages energy efficient Block Lattice Technology.

                                                                                  nano-nodeby nanocurrency

                                                                                  C++ doticonstar image 3452 doticonVersion:V25.0doticon
                                                                                  License: Permissive (BSD-3-Clause)

                                                                                  Nano is digital currency. Its ticker is: XNO and its currency symbol is: Ӿ

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                                                                                            nano-nodeby nanocurrency

                                                                                            C++ doticon star image 3452 doticonVersion:V25.0doticon License: Permissive (BSD-3-Clause)

                                                                                            Nano is digital currency. Its ticker is: XNO and its currency symbol is: Ӿ
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                                                                                                      Stellar Consensus Protocol

                                                                                                      stellar-core by stellar supports traditional currencies and leverages its proprietary Stellar Consensus Protocol that is efficient.

                                                                                                      stellar-coreby stellar

                                                                                                      C doticonstar image 3045 doticonVersion:v19.11.0doticon
                                                                                                      License: Others (Non-SPDX)

                                                                                                      stellar-core is the reference implementation for the peer to peer agent that manages the Stellar network

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                                                                                                                stellar-coreby stellar

                                                                                                                C doticon star image 3045 doticonVersion:v19.11.0doticon License: Others (Non-SPDX)

                                                                                                                stellar-core is the reference implementation for the peer to peer agent that manages the Stellar network
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                                                                                                                          HoloTokens

                                                                                                                          holochain by holochain brings in a unique no mining approach using HoloTokens that makes it inherently energy efficient.

                                                                                                                          holochainby holochain

                                                                                                                          Rust doticonstar image 818 doticonVersion:holochain-0.3.0-beta-dev.4doticon
                                                                                                                          License: Others (Non-SPDX)

                                                                                                                          The current, performant & industrial strength version of Holochain on Rust

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                                                                                                                                    holochainby holochain

                                                                                                                                    Rust doticon star image 818 doticonVersion:holochain-0.3.0-beta-dev.4doticon License: Others (Non-SPDX)

                                                                                                                                    The current, performant & industrial strength version of Holochain on Rust
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                                                                                                                                              Proof of Capacity

                                                                                                                                              burstcoin-jminer by de-luxe leverages the Proof of Capacity approach.

                                                                                                                                              Java doticonstar image 50 doticonVersion:0.6.0-RELEASEdoticon
                                                                                                                                              License: Permissive (MIT)

                                                                                                                                              GPU assisted Proof of Capacity (PoC) Miner for Burstcoin (BURST)

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                                                                                                                                                        burstcoin-jminerby de-luxe

                                                                                                                                                        Java doticon star image 50 doticonVersion:0.6.0-RELEASEdoticon License: Permissive (MIT)

                                                                                                                                                        GPU assisted Proof of Capacity (PoC) Miner for Burstcoin (BURST)
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                                                                                                                                                                  Energy Incentives

                                                                                                                                                                  SolarCoin-Raspberry-Pi-Node by Scalextrix incentivizes Solar Energy production and hedera-services by hashgraph leverages the Power Transition tool to drive energy efficiency.

                                                                                                                                                                  Python doticonstar image 9 doticonVersion:Currentdoticon
                                                                                                                                                                  License: Permissive (Unlicense)

                                                                                                                                                                  Instructions to build a headless & GUI SolarCoin full node on Raspberry Pi

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                                                                                                                                                                            SolarCoin-Raspberry-Pi-Nodeby Scalextrix

                                                                                                                                                                            Python doticon star image 9 doticonVersion:Currentdoticon License: Permissive (Unlicense)

                                                                                                                                                                            Instructions to build a headless & GUI SolarCoin full node on Raspberry Pi
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                                                                                                                                                                                      hedera-servicesby hashgraph

                                                                                                                                                                                      Java doticonstar image 216 doticonVersion:v0.38.6doticon
                                                                                                                                                                                      License: Permissive (Apache-2.0)

                                                                                                                                                                                      Crypto, token, consensus, file, and smart contract services for the Hedera public ledger

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                                                                                                                                                                                                hedera-servicesby hashgraph

                                                                                                                                                                                                Java doticon star image 216 doticonVersion:v0.38.6doticon License: Permissive (Apache-2.0)

                                                                                                                                                                                                Crypto, token, consensus, file, and smart contract services for the Hedera public ledger
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