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Volcanic Power the newest energy source for mining

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Written by   481
1 month ago

Mining in the crypto world is important, especially for coins that rely on transactions using Proof Of Work. From the condition that the amount of electricity consumption needed is getting bigger day by day, it becomes a problem factor for mining. As a result, many parties who are mining in the crypto world do various things that are not commendable. Such as stealing office electricity, government electricity, and so on.

But on the other hand, big companies are looking for various solutions, such as finding the cheapest electricity cost solution in the world to using alternative energy for mining activities. Mining has indeed become a big polemic in the crypto world because it has a big influence on the condition of the earth. Where there is a fear of increasing global warming problems from the heat generated from mining activities.

China has banned mining activities in the bamboo curtain country. The main reason is that due to a large number of mining activities in their country, there is a shortage of sufficient electricity supply for the country. On the other hand, Iran prohibits crypto mining because there are many illegal uses of electricity for mining activities to the detriment of the state. Many cases of electricity theft occur as a result of the crypto mining process.

However, with the rapid development of technology and the rapid progress of crypto, it turns out that many alternative energies have been found for mining activities. Such as hydropower, air, and other alternative energy. And there is the latest news that is enough to make the crypto market, especially bitcoin, react well again, namely the problem of using new energy, namely volcanic power.

El-Salvador as the first country to legalize bitcoin and make it a legal currency in their country's system turned out to think about this problem far and well. Because the needs of transactions and other things in bitcoin are very dependent on the mining that occurs. Responding and through a fairly good discovery, they said they had used volcanic power for the mining process. And this is also one of the reasons why crypto has recently increased.

Apart from other problems such as the existence of Coinbase which has started to open a payroll service, the news of TikTok launching NFT, Jerome Powell's statement, and the very good attitude shown by the company Compound Labs and its users regarding bug problems.

In response to this, it turns out that a positive attitude from the human side regarding the existence of life can be said to bring positive good as well.

This El-Salvador problem can be seen after the president of Bukele in a tweet he has instructed the state-owned geothermal power company LaGeo SA de CV to immediately put up a plan and also offer facilities for mining #Bitcoin with very cheap emission energy, 100% clean, 100% renewable, 0 emissions from our volcano last June.

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Written by   481
1 month ago
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Comments

This is new to me and thank you for that. There's really a lot of things that crypto can do to us nowadays. Crypto is the key to our future

$ 0.05
1 month ago

This problem of electricity to mine BTC is reaching an unbearable point. There are still many years to go before the last BTC is mined, what will happen then? The energy and the planet can't hold out now, imagine in a few more years.

$ 0.05
1 month ago

Chinese are really not from our planet. They always have headache with innovative and trash things. And yeah that's a good news for coinbase that has started tiktok launching NFT. Sounds really good to me 🤔

$ 0.05
1 month ago

I have heard of hydro but volcanic power. Wow! It may solve the problem of electricity theft at least

$ 0.05
1 month ago

You always share new information with us. tell me where to get it. Volcanoes have been a fascinating work since I was a child.

$ 0.05
1 month ago