Pi Network adopts an environmentally friendly strategy, minimizing energy consumption to support the United Nations' carbon neutrality goal.
Unlike other energy-intensive cryptocurrencies, Pi Network uses a low-energy consensus mechanism, helping to reduce greenhouse gas emissions and supporting the goal of global emission reduction.
MAIN CONTENT
Pi Network uses the Stellar consensus protocol, which consumes very little energy.
Bitcoin mining still heavily relies on polluting fossil fuel energy sources.
The United Nations' carbon neutrality goal is set to be achieved by 2050.
How does Pi Network align with the United Nations' climate change strategy?
Pi Network applies the Stellar Consensus Protocol (SCP) that allows cryptocurrency mining via smartphones, without the need for specialized hardware or high-powered servers.
This method maximizes energy savings, avoiding large greenhouse gas emissions generated in traditional mining models, directly supporting the United Nations' low emission targets.
Cryptocurrency analyst Dr. Altcoin states: 'Pi Network's energy-saving consensus mechanism significantly reduces electricity consumption compared to Bitcoin.'
Pi Network, with over 400,000 active Nodes, consumes only about 0.5 TWh per year, which is 0.3% of Bitcoin's energy consumption (170 TWh), reducing by 99.7% compared to Bitcoin.
Dr. Altcoin, cryptocurrency analyst, 2024
Why does cryptocurrency mining drive climate change?
Cryptocurrency mining requires a large amount of electricity, increasing pressure on local power systems and raising carbon emissions in the air.
Despite proposals to mitigate environmental impacts, most Bitcoin mining activities still use electricity from fossil fuels like coal and natural gas, contradicting the world's emission reduction goals.
The United Nations reports that in 2023, 45% of the energy used in Bitcoin mining comes from coal, 21% from natural gas, negatively impacting the global environment.
The United Nations sets the goal of carbon neutrality and the importance of energy-efficient blockchains.
Under the Paris Agreement of 2015, the United Nations aims to reduce greenhouse gas emissions by 45% by 2030 and achieve complete carbon neutrality by 2050.
Many blockchain platforms today are developed to manage emission data and renewable energy projects, exemplified by environmentally friendly solutions like Pi Network.
Energy-efficient blockchains not only reduce pressure on the power grid but also provide sustainable solutions for the cryptocurrency industry in the future.
Frequently Asked Questions
How does Pi Network consume energy compared to other cryptocurrencies?
Pi Network consumes only about 0.3% of Bitcoin's energy consumption, as it uses the Stellar consensus protocol, which does not require high-powered mining machines.
How does Bitcoin mining affect climate change?
Bitcoin mining consumes a lot of electricity from fossil fuel sources, increasing CO2 emissions, contributing to climate change.
What commitments does the United Nations have regarding greenhouse gas emission reduction?
The UN aims to reduce emissions by 45% by 2030 and achieve carbon neutrality by 2050 according to the Paris Agreement.
What are the benefits of energy-efficient blockchains?
Energy-efficient blockchains reduce pressure on the power grid, limit greenhouse gas emissions, and support the development of green projects.
How can Pi Network contribute to sustainable development trends?
Pi Network promotes environmentally friendly cryptocurrency technology, effectively supporting global emission reduction goals.
Source: https://tintucbitcoin.com/pi-network-tiet-kiem-nang-luong-vuot-troi/
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