Self-acclaimed crypto enthusiast and England prime minister, Rishi Sunak is set to visit Egypt for COP27, despite previously refusing to make the trip.
Sunak has seemingly come to his senses and realises the importance of attending the event to discuss slowing down the rate of global warming and investing in renewable energy sources.
After such an abrupt U-turn, it’s fair to assume climate change is not the prime minister’s favourite topic.
But attending the next COP27 could inadvertently have a positive effect on eco-friendly cryptocurrencies such as Cardano (ADA), Big Eyes Coin (BIG), and Ethereum (ETH).
Sunak’s love for crypto is well-documented. When working as Chancellor of the Exchequer, the 42-year-old proposed a central bank digital currency (CBDC), otherwise known as “Britcoin”, and planned for the currency to commence in 2025.
Therefore, the prime minister’s actions could give environmentally conscious coins the boost they need in the crypto market.
Crypto mining has proven to be incredibly energy-dependent and damaging to the world’s resources. However, things could change for the better if the likes of Cardano, Big Eyes Coin, and Ethereum gain a greater amount of exposure.
Cardano saves energy with Proof-Of-Stake Mechanism
Cardano is one of the most energy-efficient cryptocurrencies on the planet. It uses a proof-of-stake mechanism for all its transactions which uses significantly less power than proof-of-work protocols.
This makes it considerably more eco-friendly than the likes of Bitcoin (BTC) and Litecoin (LTC). According to research, Cardano uses 37,500 times less energy than Bitcoin.
Hence, if Cardano reaches the summit of the cryptocurrency universe alongside Bitcoin, the industry will become a lot more sustainable.
Ethereum’s Eco-Friendly Upgrade
Ethereum has recently shifted from a proof-of-work to a proof-of-stake mechanism, increasing its energy effectiveness by huge amounts.
The upgrade was completed in September and reports are suggesting Ethereum is almost 100% more energy-efficient than its previous makeup.
At the time of writing, Ethereum is on an upward trajectory and has a market cap of over $190,419,225,167. Nevertheless, a boost from Sunak’s eco-friendly actions is exactly what it needs to catch up to Bitcoin in the future and redefine the crypto space.
Big Eyes Coin plans to save the Oceans
Big Eyes Coin has not officially been released yet but the meme coin has raised over $9 million during its presale and secured a Tier 1 CEX Launch.
And a major reason for such success is due to its environmentally-friendly ambitions. Big Eyes Coin wants to donate 5% of its total supply to ocean-shaving charities.
This means that anyone who invests in Big Eyes will passively be helping to reduce global warming, improve the health of fish and help clean up the environment.
Furthermore, Big Eyes Coin is built on the Ethereum blockchain which means it will also use less energy to facilitate transactions.
Cardano, Ethereum, and Big Eyes Coin are three eco-friendly cryptocurrencies that are striving to change the crypto industry for the better. However, they need an extra push to make a significant difference.
Thankfully, with Rishi Sunak’s recent admission about attending an environmentally-conscious event, these three coins are likely to increase in value.
Big Eyes Coin (BIG)
The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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