University of Waterloo Prof: Ripple's XRP is More Environment-Friendly Than PoW Based Bitcoin

Thursday, April 30, 2020

Anwar HasanThe recent coronavirus pandemic has brought back attention towards maintaining a cordial relationship with our environment. In the wake of the COVID-19 outbreak, the whole world has come to a standstill as roads become empty and factories shut down.

While the pandemic for sure has created a sense of uncertainty, it has also given a pause to mother nature from constant carbon emission and pollution which in turn has resulted in clearer skies and improved conditions for our ozone layer.

While the world will not be the same once we get past these troubled times, its time for some introspection and how we take our environment for granted.

Blockchain and Cryptocurrencies are going to play a pivotal role in the financial future, and thus sustainability should be a top priority for the decentralized space as well. Ripple, one of the key players in the decentralized space, is at the forefront of this initiative where its University Blockchain Research Initiative (UBRI), in association with the University of Waterloo is looking into ways that cryptocurrency can be made more sustainable.

Professor Hasan and Research Associate Crystal Roma along with their team recently published a research paper on the cost of running an XRP Validator node.

The research found that running one for a year would cost around $63, which was a great contrast to the fact that mining a single Bitcoin cost anywhere between $531 to $26,170.

Read the full article written in Bitcoin Exchange Guide.

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