Crypto

Dogecoin (DOGE) Becomes Third Fastest Carbon Reducing Cryptocurrency, Cutting CO2 Emissions by 25% in 2022: Report

New data shows that the Dogecoin (DOGE) meme token is one of the fastest decarbonizing cryptoassets.

According to a new report from stock data aggregator Forexsuggest, Dogecoin is the third digital asset to reduce its carbon footprint the fastest as it cut its emissions by 25% in 2022.

“Dogecoin saw a 25% reduction in annual CO2 emissions. In 2021, the cryptocurrency released 1423 tons of emission. This figure has now been reduced to 1,063 tons in 2022.”

The report states that awareness of the environmental impact of crypto asset trading has increased recently, highlighting the high-profile case of Tesla CEO Elon Musk changing his stance on bitcoin (BTC) after investing in it. no longer accept BTC for payment.

The report also states that the transition of Ethereum (ETH) from a Proof-of-Work consensus mechanism to a Proof-of-Stake system has reduced its environmental impact as the cryptocurrency fell from the second most polluted cryptocurrency in 2021 to sixth. in 2022.

“In 2021 [ETH] a whopping 21.95 million tons of CO2 was generated. This figure has been reduced to 8,824 tons. Thus, it will now be enough to plant 44,121 trees to offset the annual Ethereum emissions, compared to 109,751,315 trees the previous year. »

While DOGE is rapidly reducing pollution, other leading crypto assets such as the royal cryptocurrency Bitcoin, layer-two scaling solution Polygon (MATIC) and smart contract platform Cardano (ADA) have gone the opposite way, boosting their carbon footprint. emissions.

The only two digital assets that outperform Dogecoin in terms of how quickly they reduce their environmental impact are Ethereum and Bitcoin Cash (BCH), a hard fork of BTC.

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