10 Reasons Eco-friendly Cryptos Will Pump in 2023
The plan to achieve net zero carbon emissions by 2050 is underway as many industries are taking steps to reduce their carbon blueprint. Consequently, instead of investing in the significant market mover (Bitcoin) and other energy-intensive digital assets, crypto traders and investors seek alternatives in more eco-friendly cryptos. The reason for this transition is not far-fetched.
Bitcoin mining has done more harm than good to the environment. According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin consumes up to 100 Terawatts-hour (TWh) per year. In addition, other research reveals that bitcoin emits 73 million tons of carbon dioxide.
This article clearly explains why eco-friendly cryptos are pumping right now and will continue to pump in 2023. But first, what top crypto coins should you consider investing in before they skyrocket to the moon?
Top Four Eco-Friendly Cryptos- IMPT.io
IMPT.io platform is introducing sustainable ways to reduce the global carbon footprint. One way the platform aims to achieve this is through carbon offsetting. Carbon offsetting allows individuals and businesses to compensate for carbon dioxide emissions by purchasing carbon credits. These carbon credits can be converted to NFTs for users to hold or trade.
This novelty approach is welcomed by thousands of brands who want to reduce their carbon footprints on the environment. Other sustainable ways include shopping with these brands and getting NFT carbon credits. Also, as a business owner, integrate your business into the impt.io platform, offset your carbon footprint, and earn carbon credits.
- Tamadoge
Tamadoge has gained media attention over the past few weeks since its record presale sale of $19 million. Despite being dubbed a meme coin, Tamadoge features a unique ecosystem with a limited circulating supply (about $1 billion), making the platform stand out from the rest of the meme coins.
Furthermore, Tamadoge provides a play-to-earn crypto game that offers users NFT pets to take care of to grow and develop in the game's Metaverse. When these pets are fully developed, they can battle other pets and earn points on the Tamadoge Leaderboard. Top leaderboard positions earn intriguing crypto rewards.
- SolarCoin
SolarCoin is another sustainable cryptocurrency designed to promote solar energy generation and rewards these generators with Solar coins. Unlike Bitcoin, SolarCoins aren't mined with expensive computers or mining rigs that solve complex arithmetic problems. Instead, they are distributed to solar power systems that generate electricity.
The platform issues one SolarCoin for every Megawatt-hour of electricity produced by the solar power systems as the platform plans to reward solar power systems for 40 years. Consequently, SolarCoin is an attractive investment for solar generation and could receive media attention as the world is turning towards eco-friendly crypto solutions.
- Cardano
Cardano uses a Proof-of-Stake system called Ouroboros, which is scalable to global requirements without reducing its sustainability or security. This consensus mechanism does not require powerful computers to join the network. Instead, users can purchase Cardano native tokens and $ADA to join the ecosystem. This feature saves a tremendous amount of energy.
Also, Cardano claims the Cardano network can achieve 1,000 transactions per second (compared to bitcoin's Seven). Cardano is a well-known eco-friendly crypto and one of the largest cryptocurrencies in the market.
After considering some eco-friendly cryptocurrencies worthy of your investment, here are ten reasons these tokens will be significant in their price action in 2023.
- Eco-friendly Cryptos Have Made Their Presence Known
Many crypto coins have made multiple vision and mission statements, and they do the opposite. However, eco-friendly cryptos made their presence felt by running various rounds of Initial Coin offerings and creating new solutions to ensure the lasting success of their cryptocurrency. This awareness was evident when Tamadoge completed a record $19 million capital raised during its ICO.
- They Provide Scalable Features
Many eco-friendly cryptos are now offering sustainable and scalable alternatives that are clean, efficient, and have zero carbon footprints. Despite the crypto market's drawdown, the concept of NFTs, DeFi, GameFi, and Proof-of-Stake consensus is gaining popularity among many investors, as they can participate and earn without the need to utilize large amounts of power.
- They Adopt Energy-efficient Protocols
Despite being the first and oldest mechanism, Proof of Work (PoW) is no longer gaining adoption by newer cryptocurrencies. Instead, eco-friendly coins rely on Proof-of-Stake (PoS), Delegated Proof of Stake, Proof of Activity, and other efficient protocols.
These consensus mechanisms do not require users to operate specialized machines before they can become validators or mint new crypto coins. In addition, the second largest crypto asset, Ethereum, switched from proof of work to a proof-of-stake consensus mechanism which has reduced the network's carbon emissions by 99.95%.
- An Improved Reward System
Eco-friendly coins have found newer and more innovative ways of rewarding users in their ecosystem. These eco-friendly cryptos have introduced the use of NFTs, play-to-earn crypto games, and participate-to-earn platforms to reward their community of users.
For instance, IMPT enables individuals and businesses to participate in environmental projects and be rewarded with carbon credits. Then, these users can convert these carbon credits to NFTs they can sell or hold.
- Better Tokenomics
Tokenomics refer to the economic factors that could affect a cryptocurrency's demand, supply, and valuation. Hence, Strong tokenomics is vital for the success of a crypto project. In the past, a few cryptocurrencies like Shiba Inu and Dogecoin (dubbed meme coins) minted hundreds of billions of tokens and sold them to investors with no utility. While they have grown in market cap and market share, they cannot offer prospective long-term growth.
On the flip side, Tamadoge is taking its tokenomics game seriously by providing a limited coin supply of 2 billion $TAMA tokens. Due to presale rounds, it has about $1 billion in circulation, with the remaining released over ten years. Indeed, that's great stuff!
- Reduced Network Congestion
Despite the influence of Bitcoin and Ethereum during the last crypto market bull run in 2020 and the early parts of 2021, the blockchain network was heavily congested, and transaction fees became expensive. As such, miners could make profits at the expense of investors. However, most eco-friendly projects operate on Ethereum 2.0 network, Binance Smart Chain, and other scalable blockchains that offer faster transactions at cheaper fees.
- Improved Utility
The primary aim of cryptocurrencies is to eliminate the intermediaries that traditional banks and financial institutions create. As a result, they have been adopted into many industries, and there is room for improvement.
Eco-friendly coins like Tamadoge have utilities that separate them from their competitors and enable them to provide the needed value for their investors. How so?
Unlike other meme coins, Tamadoge is developing a game that invites its users to interact in a Metaverse called Tamaverse. In this virtual reality world, users are provided with NFT pets that they will take care of, develop and train to battle other pets in the Metaverse. Also, the users are ranked on a leaderboard and rewarded with $TAMA tokens.
- Eco-Friendly Coins Lower The Entry Barrier
Eco-friendly coins are lowering barriers in the cryptocurrency world. Even though users can trade these assets on Centralized and Decentralized Exchanges, many investors desire to earn more tokens and play a significant role in the crypto community. Yet, due to the capital-intensive nature of special machines and mining rigs, many investors shy away from cryptocurrency.
However, eco-friendly coins do not require special devices to enter the market. Instead, everyone is free to invest and accumulate as many tokens as they can without the need to possess a particular kind of computer or machine.
- Excellent Community Support
In the cryptocurrency market, many crypto investors are unaware of who the team members are or if any community is available within the token's ecosystem. This situation has often led to pumping and dumping such assets in the crypto market.
The truth remains that many crypto traders and investors benefit from communal support, and eco-friendly cryptos aim to continue in that direction. Investors benefit from a community that has a healthy fear of the market and understands the dynamics of market fluctuations.
Also, project team members will be involved in the crypto communities, answering questions, providing top-notch information, and boosting the confidence of all community members who are invested in the crypto asset.
- Eco-friendly Coins Have Decentralized Features
The decentralized nature of many eco-friendly cryptos enables them to support the community without needing a central authority. Also, decentralization enables community members to have discussions and the right to vote (by Decentralized Autonomous Organization) regarding future projects in the ecosystem.
Without a central authority, these eco-friendly cryptos function and grow organically with newer innovations within the ecosystem.
Final ThoughtsEco-friendly coins are raising the standards in the crypto community to ensure a clean and green environment. These digital assets do not require a vast amount of power. Instead, they give investors the confidence to purchase eco-friendly tokens and contribute their quota to ensuring clean earth.
As a matter of fact, Tamadoge is currently listed on the OKX exchange and trades at a little over $0.1 (at the time of writing). Also, IMPT is presently conducting its ICO with over $250,000 raised and has strongly connected with global brands in line with its whitepaper.
You can also become a part of these eco-friendly cryptos. Therefore, fasten your seat belts, and enjoy the ride to the moon. Cheers!
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