Rajarshi Mitra
Independent Analyst
- Ripple outlined the sustainability of various currencies and highlighted that XRP is far more eco-friendly than the rest.
- It said that unlike other cryptos, XRP doesn’t require a massive amount of energy to circulate.
Ripple recently published a report on World Earth day, outlining the sustainability of various currencies and their environmental impacts, highlighting XRP as the most eco-friendly. Ripple noted that printing paper money is not sustainable in the long term. It went on to explain that massive deforestation and the use of several elements required for the production of banknotes has a severe impact on the environment.
Physical coins also contribute to the world’s pollution. The mining of metals and the energy costs involved in manufacturing new coins are harmful to nature. Ripple said that debit and credit cards are the greenest alternative for the traditional banking system. Despite being plastic, cards have a longer lifespan and do not carry the same production costs as coins.
Discussing the two widely-adopted cryptocurrencies, Bitcoin and Ethereum, Ripple said that PoW mining is required for their extraction, which requires high energy consumption. According to Ripple, unlike these two, XRP does not need that massive amount of energy to circulate and is “one of the most sustainable forms of currency available.”
- Unlike Bitcoin or Ethereum, XRP is not a mined digital asset. Every unit of currency that exists now has already been created … XRP is an incredibly efficient and sustainable form of currency.
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