Elan

The blockchain-cryptocurrency sector has earned a bad reputation as an energy-intensive and polluting industry. For example, people point out that 1 bitcoin transaction consumes <a href="https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/" rel="noopener noreferrer nofollow">2,189 kWh of energy</a>. In comparison, 100K VISA transactions consume just 149 kWh of energy. Data suggests that annual bitcoin transactions generate over <a href="https://digiconomist.net/bitcoin-energy-consumption" rel="noopener noreferrer nofollow">64 metric tonnes of carbon dioxide</a>, adversely impacting the climate.Bitcoin runs on the earliest iteration of blockchain technology using a Proof-of-Work (PoW) consensus mechanism to validate transactions. In a PoW system, miners require high computing power to compete against each other for validating transactions to get bitcoin rewards. Although there’s no doubt that PoW consumes a lot of energy, the blockchain sector has come up with energy-saving solutions.To begin with, Bitcoin mining uses around 40-75% of renewable energy to power mining equipment, thereby reducing fossil fuel dependence. This significantly cuts down on unnecessary carbon emissions. Moreover, innovators have now come up with the Proof-of-Stake (PoS) consensus mechanism to save energy usage. For example, Ethereum recently migrated to a PoS system, cutting down energy usage <a href="https://blog.ethereum.org/2021/05/18/country-power-no-more" rel="noopener noreferrer nofollow">by 99.95%</a> to <a href="https://ethereum.org/en/energy-consumption/#:~:text&#61;This%20yielded%20an%20estimate%20of,regional%2Dspecific%20carbon%20intensity%20factors." rel="noopener noreferrer nofollow">0.0026 TWh/year</a>.Additionally, some blockchain companies are going over and beyond to come up with innovative solutions to address the negative press. These technologies not only move away from fossil fuel-based energy usage but actively contribute towards green energy production.<h2 id="header-0">Blockchain Technology: Making Way For Green Energy</h2>The blockchain-cryptocurrency company, Elan Future, has come up with highly sophisticated technologies to generate, store, and distribute green energy. For example, Apollo is an Elan device that uses the patented parametric resonance technology to amplify energy output by 10x. This compact, plug-and-play device is compatible with all energy sources, thus multiplying energy generation for solar, wind, and fossil fuel-based electric grids.Apollo can save household energy costs by 17-50% because they’ll require less energy to power their homes. This will also protect the planet as total energy production will come down significantly. Similarly, Apollo can help industries to cut down on their massive greenhouse gas emissions while continuing to contribute to the global economy. The Elan device can enhance mileage for electric car batteries, reducing transport-based pollution.Elan Future has also developed the Model 2 device that harnesses negative ions in the air to generate AC/DC electricity. This compact equipment produces clean and sustainable energy without polluting the environment. Another product called Bia connects to a house’s electric panel to reduce house heating energy consumption by 97%. These devices are connected to the Elan blockchain, ‘The Chain’, for remotely monitoring energy usage.The deflationary Elan token powers the Elan network and consumers can use them to purchase Elan devices and pay for electricity. Users can also send the Elan tokens to underprivileged people through the Elan mobile application to produce electricity. Thus, Elan ensures that everyone across the globe has equitable energy access to power up their homes. In fact, Elan contributes a share of its profits to those suffering from energy poverty.Elan Future has demonstrated that since Satoshi Nakamoto’s Bitcoin whitepaper in 2008, the blockchain-cryptocurrency sector has matured a lot. Now, it’s unfair to say blockchain technology unnecessarily pollutes the Earth. On the contrary, blockchain is making way for producing green energy alternatives to move away from fossil fuel dependency.

Can Blockchain-Cryptocurrency Technology Offer Us Clean and Green Energy?

Table of Contents

ElanFuture

Other articles published on Nov 25, 2022

Prices of BTC, ETH, and MATIC Tumble as DOGE Bulls Assume Charge

Binance Moved $2.5 Billion Out of Their Proof-of-Reserves Wallet

Top 7 gaming tokens in 2022

Faulty FTX Data Discovered During Takeover Discussions

10 Best Remote Work Tips to Improve Productivity and Morale

Technical analysis as a tool for evaluating the behavior of a digital asset

Join our free newsletter for daily crypto updates!