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Tesla looking for cryptos that use less than 1% of Bitcoin’s energy? Find out what they are!

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It was during this night that Bitcoin fell sharply after the latest announcement by Elon Musk on behalf of Tesla: the electric car maker will no longer accept bitcoins as a means of payment. Shortly after he announced the purchase of Bitcoin, as well as accepting cryptocurrency as a means of payment for his cars.

Because? According to the statement, due to environmental issues. There are already some studies that point out that Bitcoin consumes a lot of energy, including more energy than large European countries, such as the Netherlands, therefore, and because they have one of the best environmental footprints in the automotive industry, they have now decided to stop accepting coin. In the same statement, Elon Musk says that they continue to believe in cryptocurrencies and will now look at other cryptocurrencies that consume less energy, namely that consume less than 1% of Bitcoin’s energy. So and what are the currencies that fulfill this requirement?

So how much energy does Bitcoin consume? According to the data obtained, Bitcoin consumes 707 KWh and is obviously at the bottom of the list. For its part, Ethereum / ETH), the second most important currency, consumes 62.56 KWh per transaction.

Dogecoin (DOGE)

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Coincidence or not, besides Bitcoin, Elon Musk has mentioned this cryptocurrency a lot.

The value of this cryptocurrency was also greatly driven by Musk, however, in the last Saturday Night Live this gift and ended up labeling Dogecoin as a “scheme” which caused the currency to devalue.

However on his Twitter, he launched a poll on whether Tesla should accept Dogecoin, which ended up with a big Sim.

According to data from Benzinga, DOGE consumes 0.12 KWh per transaction of the currency, being one of the currencies that consumes less energy.

Ripple (XRP)

Ripple is a cryptocurrency associated with Ripple Labs and is considered the cryptocurrency that consumes the least energy, of only 0.0079 KWh. However, XRP has had better days.

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Not that there is any problem with the currency itself, however, the US authorities have filed a court case against the management company of XRP, for not having legally registered a sale of US $ 1.3 billion in currency, a situation which even led Coinbase, a major exchange, to withdraw the currency to protect itself from possible consequences.

However, Ripple has already had some victories, although the process has not yet ended. Because of this, Tesla should not choose XRP until this court case is over.

Cardano (ADA)

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Cardano is also one of the currencies with the lowest energy consumption per transaction, of only 0.5479 Kwh, being the third most economical currency in energy consumption.

Cardano was created by blockchain development company Input Output Hong Kong (IOHK) and led by CEO Charles Hoskinson, former co-founder of BitShares, Ethereum and Ethereum Classic, the project aims to execute smart contracts, decentralized applications, side chains, multiparty computing, and metadata.

Litecoin (LTC)

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According to TRG Datacenters, it places Litecoin as the fourth currency that consumes the least energy, although the difference is already abysmal between this currency and the others mentioned above, since it consumes 18,522 KWh per transaction.

Chia Network (XCH)

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The Chia currency is recent and was very recently spoken due to the change in the world of cryptocurrencies that, until now, needed the power of GPUs to work. Chia Network now uses hard drives to mine, asserting itself as the solution to Bitcoin’s huge energy consumption.

According to the Chia, this cryptocurrency aims to be a more green and eco-friendly alternative to the environment. However, there is still no data related to this cryptocurrency, besides that it has already generated a race to purchase hard drives globally.

Source: Benzinga and TRG DataCenters

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