With these numbers increasing, so has the incentive to create cryptocurrency "mines" — server farms now spread across the world, often massive. Imagine the amount of energy consumed by 25,000 machines calculating math problems 24 hours a day.



Beyond the environmental concerns, this inefficiency threatens blockchain as a meaningful platform for enterprise. The high energy costs are baked into the system, and, because the cost of running the network is passed on in transaction fees, users of these networks end up paying for them. Initially, companies that use bitcoin may not see the financial consequences, but as they scale, the costs could become fatal.

As Bitcoin grew in profit so did its popularity. However, there were repercussions that many did not consider initially. A recent article from the Harvard Business Review reminded the world of these repercussions of the increase in crypto's popularity, mainly from the inefficient energy consumption and environmental consequences due to mining. The article stated:

GODcoin has discussed this topic of mining and its inefficiencies. The article reiterated how Bitcoin mining is threatening to violate the Paris Agreement as it is using an extreme amount of energy.

The largest cryptocurrencies — Bitcoin, Bitcoin Cash, and Ethereum — require vast amounts of energy consumption to function. Last year, blockchain used more power than 159 individual nations including Uruguay, Nigeria, and Ireland. Unsurprisingly, this is creating a huge environmental problem that poses a threat to the Paris climate-change accord.

The HBR article does go into details about how other cryptocurrencies out there are aiming to be more "green" by using a PoS or DPoS systems, and they state that even Ethereum is aiming to transition to a PoS system. The problem that remains is that they still lack the backing of an asset and therefore they remain volatile. GODcoin solves both of the issues of environmental energy inefficiency and volatility because of its minting process and backing of gold and silver.

You can read more from GODcoin's website, Pitch Deck, and white paper. It's time for investors to realize that sustainable energy is the future for the world including crypto, and to avoid volatility, GODcoin offers the security and sustainability necessary to have a bright and prosperous future.

This article was authored by Judith Monte, @belovebelight