Dogecoin reduces CO2 emissions by 25%, token’s price is on the rise
Published by
Winnie Kimeu
1 year ago
Dogecoin reduces CO2 emissions by 25%, token’s price is on the rise
Dogecoin reportedly cut its emissions by 25% in 2022.
Forex Suggest reveals the above numbers place Dogecoin in third place on the list of digital assets with the fastest reduction in emissions.
Dogecoin reduces CO2 emissions by 25%
“Dogecoin has achieved a significant milestone in sustainability, with a 25% reduction in annual carbon emissions. In 2021, it emitted 1,423 tons of CO2, but in 2022, it has successfully decreased that number to 1,063 tons.”
The report sheds light on a growing concern among traders and investors about the environmental impact of crypto assets.
The brand new newsletter with insights, market analysis and daily opportunities.
Let’s grow together!
Musk paved the way
Awareness has heightened in recent times, particularly when Elon Musk decided that the company will no longer be accepting the cryptocurrency Bitcoin as a form of payment.
Elon Musk’s favourite crypto – 2019
Ethereum (ETH) also made a drastic change, shifting from a power-hungry proof-of-work system to a more sustainable proof-of-stake mechanism. This transition resulted in a significant decline in ETH’s carbon emissions, propelling it from the second most polluting crypto in 2021 to the sixth spot in 2022.
Annual CO2 emissions for top cryptocurrencies.
“In 2021, ETH emitted 21.95 million tons of CO2. It released only 8,824 tons in 2022. This means that instead of the massive 109,751,315 trees needed to offset its emissions the previous year, only 44,121 trees are now required.”
Biggest crypto pollutants
Other prominent crypto assets such as Bitcoin, Polygon (MATIC), and Cardano (ADA) have taken a different path, with their carbon emissions on the rise.
Ethereum and Bitcoin Cash (BCH) take the lead ahead of Dogecoin in reducing their carbon footprint.