Energy is a very important part of our existence, as it is a contributory factor to a country’s economic growth and development. However, the regular sources through which electricity gets generated has been known to generate a lot of carbon which has been reported to be responsible for the depletion of the ozone layer, which in turn poses a health risk. This is why he use of renewable energy is been advocated for, as it remains the cleanest and safest form of energy, because during the whole process, no poisonous gases get released into the atmosphere. Furthermore, with the introduction of the blockchain technology and the mining of cryptocurrencies, the want for more power to run the bitcoin miners was in the increase, and this invariably meant high cost for electricity, as the bitcoin miners were known to consume a lot of energy. Basically, people were paying more for electricity than was necessary, based on the power consumption of the miners, and it all but posed serious problems to mining and its profitability. These problems inspired VenusEnergy to come up with a solution that would tackle the problem of the energy source which will in turn deal with damage to our environment and profitability of mining.

The Venus Solution

VenusEnergy intends to use renewable energy sources to facilitate blockchain mining, and thinks it would be a good start to ensuring that renewable energy sources get applied in other areas. According to the research carried out by VenusEnergy, it was discovered that the Bitcoin mining price was a function of the relationship between the price of electric energy and computer processor abilities. By adopting the use of renewable energy, the price of electricity would not be a stumbling block to the blockchain mining computations, rather, it would create more opportunities for that would enhance mining activities. Network, security levels, transactions are bound to get enhanced, which will in turn lead to better productivity and thus revolutionize both technologies and the raise the competition bar high for other technologies.

Also, it is important to note that the use of renewable energy sources is a great way to tackle the greenhouse effect, and reduce global warming. It will in turn ensure the earth’s condition is greatly improved in more ways than one. Based on the research carried out by VenusEnergy, it was discovered that computations regarding the whole bitcoin network consumed energy that was equivalent to energy consumed by a country like Ireland or Denmark. However, with VenusEnergy, its implementation will serve as a pointer in the right direction of the use of renewable energy for mining purposes, in a bid to save the earth and not interfere with nature’s operations.

By adopting renewable energy sources, it is certain that there will be a drastic drop in the costs of electricity and productivity would increase, thereby creating a better platform for investors and more people to join in on the new form of mining with renewable energy.

Website: https://www.venusenergy.io/