Hive Token Is The Solution To The Environmental Impacts of Cryptocurrency Mining

Greetings to everyone on Hive and the Cent Community,

Since Hive is about earning cryptocurrency rewards from engaging in the community, creating content and curate quality posts, I felt the pressing need to dive into what I think would be a very interesting topic to discuss today.

In today's blog post we'll be discussing the environmental impacts of cryptocurrency mining and why I believe the Hive Tokens should be preferred over the Traditional Tokens.

Original Image Source by Peggy_Marco from Pixabay

A Brief Introduction To Crytocurrency Mining

To begin with, it's no doubt thay cryptocurrency is known and loved by many around the world and it's for very good reasons.

It is decentralized, meaning will not be controlled or regulated by a single person or organization, quick to transact and fosters the possibility of anonymity which is good for security and privacy.

Traditionally, Cryptocurrency is a digital currency that is created using computational and mathematical algorithms on computers. This process of creating cryptocurrency on computers is called Cryptocurrency Mining.

Cryptocurrency is really limited in supply and this allows it to have value which increases or decreases. The higher the scarcity of the crypto, the more valuable it becomes.

A fun fact about crypto which most people on Hive may already know is that the first ever cryptocurrency was Bitcoin.

Cryptocurrency is highly volatile and investors take advantage of that nature to make profits. However that makes it also very risky to trade with. You will need good knowledge and experience in the field to be a master at investing and trading cryptocurrency.

The Issue With Mining Crypto

Cryptocurrency is very valuable which is why many people invest into mining cryptocurrency a lot.The issue is that mining cryptocurrency has some negative impacts in our environments which I'll be explaining as we move on.

These negative impacts of Mining cryptocurrency include but not limited to; High energy consumption, carbon emissions contributing to global warming and electronic waste pollution.

What Makes The Hive Tokens Much Better than Traditional Cryptocurrency

Well one might ask, what makes Hive Tokens better than these Traditional tokens like Bitcoin, Ethereum and Dodge coin. Well the main difference is how these cryptocurrencies are created.

Unlike traditional cryptocurrencies which would require these huge expensive machines or computers to mine them creating all the problems I enumerated above, Hive Tokens is not mined in the traditional sense.

Hive Tokens are created and is distributed through a process known as "proof-of-stake" (PoS) and "proof-of-brain" (PoB) which are mechanisms on the Hive blockchain.

New Hive tokens are typically created as rewards for content creators and curators. When you share a post like I'm doing now and get liked or upvoted, you earn Hive tokens and other Hive Based Tokens as well.

The coolest part is that you get to earn all those new Hive Crypto Tokens by contributing quality content to an online community rather than mining through computers resulting in all the negative impacts I just enumerated above.

This is mainly the reason why I believe the Hive Tokens and even the other Hive based Tokens are much better for all of us than traditional cryptocurrencies that keep harming the environment.

Negative Impacts of Mining To The Environment

Energy Consumption and Global Warming

High level and high powered super computers are needed to effectively mine cryptocurrency.

These computers require a lot of energy to mine and that can cost a lot of money in the long run. It could also create instability in your power usage.

As these powerful computers run to mine cryptocurrency, they produce carbon emissions into the atmosphere. This contributes to global warming which as you may know is a worldwide issue that affects every nation.

A huge amount of electricity is required for mining cryptocurrency. This electric power is frequently derived or gotten from burning fossil fuels which also emits more carbon into the atmosphere.

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Now another thing is that, in order for engineers to keep making those expensive hardwares and computers for mining, they literally have to go and get some rare earth minerals. As traditional mining escalates, more minerals will be used which will only contribute to more pollution from electronic waste.

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What Is the Way Forward?

Well I believe that the way forward is the adoption of new tokens like the Hive token and all other Hive Based tokens which is not created through vigorous traditional mining activities but through quality contribution of content to online communities like the Hive Blockchain and its communities.

By adopting these kinds of tokens, Miners will be discouraged from continuing the mining work which has lots of negative environmental impacts.

I'll draw the curtains to my blog post for today. I hope you enjoyed the blog topic. This post was only intended to inform, entertain and contribute to our endeavor to preserve our society and maintain health while still earning good incomes and cryptocurrency rewards.

Not everyone would agree with my opinion and I'm willing to respect everyone's opinion. As always I'll be more than happy to respond to any question, contribution or comment you may have regarding the blog topic.

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I would like to mention a great friend I made today on Hive, @jmis101 and I would also like to mention another great friend who taught me a few tips about making quality posts, @demotruk

Thank you so much for taking the time to read today's blog. Have a lovely day and catch you next time in the Cent Community. Goodbye ✍️

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