Category Archives: Cryptocurrency

How Does Cryptocurrency Help Poor Countries?

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Since the inception of Bitcoin – the first-ever cryptocurrency conveniently tradable via Bitcoin Trading Software – the phenomenon of digital currencies has revolutionized the world. The industry is creating resonance around the global market’s ability to shake the entire economic and financial scene. As cryptocurrency is a hot debate with its widespread success and profitability, global economists have begun to understand that cryptocurrencies and blockchain technology can play a vital role in eradicating the poverty of the world and can also speed up the development of an economy.

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Top-notch cryptocurrencies, such as Bitcoin Circuit Site, Ether, and others, have the potential to enable social and economic development all over the world with the inclusion of developing countries. These digital currencies allow easy access to capital and financial services. Digital currencies, especially Bitcoin, have a highly useful price outside the market and have gradually begun to affect traditional financial systems. But with some crypto mining risks have removed many investors from the market or made them choose more sustainable options.

Over the past decade, with a special focus on Decentralized Finance, blockchain technologies have had explosive growth in research and development. Decentralized Finance can be beneficial for the entire financial world without the intervention of traditional central bodies such as banks and the financial ecosystems of the government.

With the help of Decentralized Finance, you can; economically transfer money, broaden access to capital, and validate and secure the supply chains, along with other multiple benefits. It will be highly lucrative for individuals that are unbanked all over the world by offering them a mechanism to access capital and effectively save money.

Eradication Of Poverty With Cryptocurrencies

There are many benefits to cryptocurrencies that can create the lives of individuals living in poor countries. Since cryptocurrencies are backed by blockchain technology, no regulatory/central authority or bank controls them. It does not require heavy transaction fees and other transaction expenses simultaneously. This attribute of cryptocurrencies for people from poor countries to buy currencies without any transactions, increase their Return on Investment, and without fees trading.

You can immediately send cryptocurrencies to people facing crisis conditions. Often corruption in centralized financial institutions avoids a large amount of relief from reaching deserving people. But the usage of cryptocurrencies can ensure that financial aids and resources reach deserving people on time in several volatile conditions. With the addition of additional infrastructure, it can serve as a means of sending cryptocurrencies to the right people and a platform to cash out cryptos in return for goods.

How Can Cryptocurrencies Help Poor Countries?

Here are some ways through which cryptocurrencies can help poor countries, and can help them for their betterment and secure future.

1. Financial Stability

Central authorities are linked to financial stability because they cannot set up financial policies adjusted with crypto. A sudden price drop can result in the loss of investors’ confidence, and the market has a wide range of implications. In some of the emerging markets, the adoption of Crypto has intensified due to unstable local policies or payment systems. Therefore, there arises a risk that the capital control measures will be eliminated.

2. Equity

Crypto can be more lucrative to people who can feel themselves being oppressed through the existing financial system. In the United States, the high exhibition of Black Americans’ cryptocurrencies has also taken a further risk of recent economic misery.

3. Safety

When moving a large number of prices in the borders, Crypto has the advantage over cash. However, these parts are managed using the Know Your Customer and Anti-Money Laundering measures. So, the majority of the transactions will be traced.

Usage Of Cryptocurrencies By Charities

4. Innovation

Innovation in the crypto world is becoming increasingly rapid, which produces the multiplier effect of the latest concepts such as Non-Fungible-Tokens and Metaverse.  If individuals from poor countries get cryptos in the Metaverse, it can produce pure wealth for the country. If these incomes were to be taken out of the Metaverse and to a great extent, it could have an overall demand effect, which would result in economic development.

Wrap Up

Cryptocurrencies are capable of balancing the world economy. Even it can create another field where people will be able to reach banking and financial services, and most significantly, they will be having access to money. It is believed by experts that cryptos are not just a hoax, and if they are properly executed, Bitcoin, along with other reputable cryptocurrencies, can help eliminate poverty and raise living standards.

How Can Charities Use Cryptocurrency?

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If we take a look into the history of mankind, there are several developments in the methods of trade and exchange. Everyone has opened the door for the benefits of change but has also created new challenges and risks to visit society. And this is the reason; everybody is looking for a fantastic jump in this regard. The supporters of cryptocurrencies are making arguments that they are the ones who have made the latest move. Once the internet-savvy is protected, a clear surge in the usage of cryptocurrencies in the real economy can be seen. For more you can go for crypto trading and investment by logging into https://bitbot-app.com

Usage Of Cryptocurrencies By Charities

Since charities are looking for new and innovative methods for fundraising, they can either accept cryptocurrency such as Bitcoin – the first-ever and the most reputable cryptocurrencies easily tradable via Bitcoin Trading Software – donations or invest in cryptos. Usually, the risks associated with a charity making an investment in cryptocurrencies are much higher than the risks associated with accepting donations in the form of cryptocurrencies. Charities should understand that crypto investments possess high risks, and it is not suitable for them to take high risks.

Charities, along with their responsible people, are advised to watch out before accepting crypto donations and investing in cryptocurrencies, and they should make sure that whatever decision they are making is best suited for them. Charities must understand the risks and benefits associated with crypto assets or cryptocurrencies.

Charities and Cryptocurrencies

There are countries in which cryptocurrencies, virtual currencies, and their exchanges are legal. Currently, there are only a small number of charities that accept donations in the form of cryptocurrencies, and their sole purpose is to maximize their donor audience. But the ongoing digital change all over the world can mean that more and more people are showing their interest in these (crypto) assets, and that is why more charities have begun to explore cryptocurrencies.

The responsible people of charities should make sure that there exist feasible and legit processes for the management of charity funds. They also need to make sure that they understand the working of cryptocurrencies and what are the possible benefits and associated risks in this process along with the implication of taxes. It would be an appropriate option for charities to get financial advice from experts regarding investments.

The Usage Of Cryptocurrencies By Charities

At this time, there are a few charities that are utilizing cryptocurrencies, and their usage is also limited. For instance, they are using cryptos for specific purposes only, such as transferring funds to other countries where there are no proper banking regulations. Many charities are accepting crypto donations. Charities should convert these donations into real assets or traditional currencies ASAP. There are very few charity organizations that are indulged in the crypto business, such as holding and investing cryptocurrencies.

bitcoin cash

Accepting Cryptocurrencies as Donations

The majority of charitable organizations that accept cryptocurrency donations are the ones who do so to reach more and more donors all across the globe, which they cannot approach by utilizing more fundraising schemes. One important thing in this regard is that there are tax authorities that do not consider cryptocurrencies as assets or income and that is why they appear in the balance sheet of charity. But the establishment of a crypto donation system can be sought for time, and it requires charities to gain the right skills. These skills involve:

The knowledge about how crypto trading works.

  • Decision on the type of crypto asset accepted by the charity and a donation platform for this purpose
  • The ability to handle crypto wallets and generate receipts of tax for the donors

If charities do not possess these skills, they need to outsource to:

  • An intermediary who will be responsible for accepting donations in the form of crypto assets, converting them into cash, managing tax receipts, and paying cash to the charity
  • Other companies that will be running marketing campaigns for the charity to attract donors who are willing to make crypto donations
  • A crypto exchange that will promptly transform donations into cash, and the charity itself will be dealing with donors, administrative work, and tax matters
  • A crypto wallet to receive, transfer, and store crypto donations

Conclusion

When charities decide to sink their feet in the sea of cryptocurrencies, the development of a comprehensive plan and its implementation is mandatory. It includes designing policies to ensure the safety and security of the whole process and the processes to make sure how charities would handle these crypto donations and how they would deal with the associated risks.

Understanding the Digital Yuan: Its Operation and Consequences

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The Chinese authorities said it would soon launch a digital yuan to lessen its dependence on the US currency. But what does it imply for the entire globe, including China?

In China, users will implement a new type of money called the digital yuan in 2020. It aims to encourage contactless banking and lessen the nation’s dependency on the US currency. Technical analysis is one of the analytical methods that Auto-trading platform employ to help them make trading choices.

Characteristics of Digital Yuan

Concerns have been raised concerning the effects of the digital yuan, however. Some analysts are concerned that it may give the Chinese authorities excessive influence over the business and that users might use it for fraud or espionage.

What Characteristics Characterize the Digital Yuan?

Regarding China’s new digital yuan, there are still a lot of unsolved concerns at the moment.

The electronic yuan is intended to be a universal currency first. It will thus be utilized for international transactions, making it more straightforward for Chinese businesses to do business abroad.

Second, the Chinese government will support the digital yuan. It will thus be more trustworthy and stable than that other commodities.

And last, users will intimately integrate the social media networks in China with the digital yuan. It follows that Chinese residents will find it simpler to utilize and keep their digital yuan.

What Possibilities Are There for Using a Digital Monetary system?

Digital money may provide greater security against fraud and theft and facilitate quicker payments and convenience. We are more vulnerable to cyber assaults as the world becomes more computerized, and digital yuan is built to employ cutting-edge encryption to shield users from such dangers. Furthermore, the digital yuan will be connected with China’s current blockchain-based infrastructure, facilitating swift and safe commercial transactions using the currency.

In times of crisis, the digital yuan contributes to more excellent economic stability. The People’s Bank of China, which runs the system, has greater control over how money is moved about the economy since it is a central bank, guaranteeing that users can preserve liquidity even in the face of macroeconomic shocks. Since there is no need to convert foreign currencies or pay costs associated with international cross-border transactions, this could provide a chance for Chinese citizens abroad to send money home promptly and at a lesser price.

What Kinds of Risks Could a Digital Currency Involve?

Users must take the possible hazards linked to a monetary system into consideration. The likelihood that users may utilize digital currency for illegal purposes is one of the main worries. Since it may be more challenging to track than a traditional bank account and can sometimes be untraceable, digital money has been compared to cash. It may result in illegal acts, including funding terrorism and money laundering.

Digital money may make it more difficult for those who need access to conventional systems or accounts to participate in the financial system, which is another possible concern.

Last but not least, the widespread acceptance and usage of digital money may raise the danger of cybercrime. The possibility of hackers or other bad actors stealing people’s money rises when more digital assets are in circulation. It might result in significant losses for consumers that are virtually impossible to recover from since Ethereum – based currencies are more difficult to track than conventional ones.

What Impact Will the Launch of the Digital Yuan Have on the World’s Economies?

China’s adoption of the digital yuan will significantly impact world economies. First, given its broad usage, it would enable China to access and influence the economy of other nations more readily. Second, it may significantly increase competition for currencies like the US dollar, Euro, and Japanese yen since consumers may choose digital yuan payments for convenience over more convenient payment options. The digital yuan might also serve as a means of exchange between states and a platform for international commerce, allowing some regimes like Iran or North Korea to evade international sanctions.

According to general advances in financial technology, countries that had previously lagged in electronic payments will be urged to establish their solutions if they want to stay within the race toward digital money solutions. As they will be under more pressure from corporate organizations with more sophisticated financial technology, central banks may be encouraged to investigate new methods of governing their economies by implementing the digital yuan. It is yet unclear what impact these advances will have on world economies, but it is evident that this technique has significant ramifications for all parties concerned.

Conclusion

We examined the effects of China’s adoption of the Electronic Yuan in this article. The new bitcoin exchange will significantly influence the Chinese and world economies. Even while it’s too soon to predict with certainty what those effects will be, it is evident that the Electronic Yuan is a significant breakthrough that will undoubtedly alter how we operate.

Green Hosting Solutions For Bitcoin Mining

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The popularity of Bitcoin mining has surged in recent years as more individuals see it as a lucrative opportunity to make money with cryptocurrencies. However, the conventional method of Bitcoin mining is detrimental to the environment as it contributes to the emission of greenhouse gases, which exacerbates the issue of global warming. As an expert in the field of cryptocurrency, I understand the importance of seeking sustainable options for bitcoin mining server hosting to minimize its environmental impact.

green hosting solutions for bitcoin mining

This article will delve into the necessity for eco-friendly hosting solutions for Bitcoin mining and enumerate the advantages and various types of sustainable hosting alternatives that are currently available. The adoption of green hosting solutions will enable us to promote a more environmentally conscious approach to Bitcoin mining, while still capitalizing on the benefits of this emerging technology.

Traditional Bitcoin Mining and Its Environmental Impact

The procedure of Bitcoin mining entails the validation and inclusion of transactions in the blockchain ledger by resolving intricate mathematical equations. The conventional method of Bitcoin mining is notorious for its high energy consumption, which has a considerable impact on the environment. It is estimated that Bitcoin mining consumes energy equivalent to that of a small nation, and the environmental impact of conventional mining practices is significant.

The conventional approach to Bitcoin mining is heavily reliant on non-renewable sources of energy, primarily fossil fuels, which emit greenhouse gases and contribute to the issue of global warming. Therefore, it is imperative to find sustainable and environmentally friendly hosting solutions for Bitcoin mining servers to mitigate the impact of this process on the environment.

Green Hosting Solutions for Bitcoin Mining

As the world becomes more aware of the environmental impact of traditional bitcoin mining practices, the demand for eco-friendly hosting solutions for bitcoin mining servers is growing. Green hosting services aim to reduce carbon emissions and promote sustainable practices by using renewable energy sources.

Green hosting solutions for bitcoin mining offer numerous benefits, including lower energy costs, improved efficiency, and a smaller carbon footprint. These solutions include renewable energy-powered servers, low carbon footprint hosting providers, and carbon offsetting hosting services.

Renewable energy-powered servers use clean energy sources like solar or wind power to operate their servers. Low carbon footprint hosting providers prioritize energy-efficient hardware and strive to minimize carbon emissions. Carbon offsetting hosting services focus on offsetting the carbon emissions associated with bitcoin mining through activities like planting trees or investing in renewable energy projects.

Adopting sustainable hosting solutions can significantly reduce the environmental impact of bitcoin mining, and it’s a step towards creating a more sustainable future.

crypto mining in Armenia

Case Studies: Green Hosting Solutions for Bitcoin Mining

Numerous companies have realized the significance of eco-friendly and sustainable hosting solutions for bitcoin mining servers and have started providing green hosting options.

One such company is Minery.io, which uses hydropower, a renewable energy source, to power its mining operations.

BitRiver, another company, provides colocation services powered by hydroelectricity and has plans to expand to other renewable energy sources.

Giga Watt offers carbon offsetting hosting services, which helps to counterbalance the carbon emissions associated with bitcoin mining by investing in renewable energy projects.

These companies have demonstrated the possibility of green hosting solutions for bitcoin mining and the favorable environmental impact that can be achieved. By adopting green hosting solutions, bitcoin miners can lower their carbon footprint and contribute to a more sustainable and eco-friendly future.

Future of Green Hosting Solutions for Bitcoin Mining

The call for sustainable and eco-friendly hosting solutions for bitcoin mining is on the rise, indicating that green hosting is poised to play a significant role in shaping the industry’s future. With an increasing number of individuals and companies recognizing the environmental impact of conventional bitcoin mining practices, the need for green hosting solutions is expected to grow.

How scientist use data in green energy

Innovations in renewable energy sources and energy-efficient hardware are making it increasingly feasible to power bitcoin mining servers using clean energy. The development of green hosting solutions for bitcoin mining is an exciting area of innovation, with numerous companies working to develop new, sustainable technologies.

Regulations can also promote the use of green hosting solutions for bitcoin mining by encouraging sustainable practices and setting standards for eco-friendly hosting services. The future of bitcoin mining and green hosting solutions is one that emphasizes progress and innovation, with a focus on sustainability and eco-friendliness.

Conclusion

In summary, it is increasingly clear that the environmental impact of traditional bitcoin mining practices necessitates the adoption of sustainable and eco-friendly hosting solutions for this industry. Green hosting solutions offer a range of benefits, including reduced energy costs, increased efficiency, and a smaller carbon footprint. Through the use of renewable energy sources and energy-efficient hardware, green hosting solutions can significantly reduce the environmental impact of bitcoin mining.

The future of sustainable mining practices is bright, with technological advancements and a growing demand for eco-friendly crypto solutions. It is crucial for bitcoin miners to prioritize sustainability and work towards minimizing their impact on the environment. By transitioning to green hosting solutions, we can create a more sustainable and environmentally conscious future for bitcoin mining.

Saving the Planet: How to Make Blockchain More Environmentally Friendly?

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Humanity’s actions have led to many environmental problems, the consequences of which are now evident. The greenhouse effect, water and air pollution, deforestation, and the depletion of natural resources — all of this is a direct result of our activities.

To protect the only planet capable of supporting human life without special equipment, it is necessary to adapt our technology and business processes to the principles of sustainability.

One of the technologies that need to be optimized from an environmental standpoint is blockchain. Its impact on the environment so far has been significant, and not in the best way. Fortunately, there are already initiatives trying to make this industry more sustainable.

Let’s see what they are and how they can help protect the environment.

how to make the blockchain more sustainable

The Problem of Blockchain and Sustainability

The main problem with blockchain technology is that it consumes a lot of energy. The fact is that the more popular cryptocurrencies become and the higher their capitalization grows, the more energy they consume as well.

Today, Bitcoin alone consumes as much electricity as smaller countries. The reason for that lies in the consensus protocol some most used blockchain frameworks rely on — Proof of Work.

Proof of Work is a consensus algorithm that allows blockchain nodes to reach a consensus. Its main features are as follows:

  • A block can be added to the chain only if the previously generated cryptographic puzzle is solved;
  • To solve the puzzle, a node needs to spend computational power;
  • The more computational power the node spends, the more likely it is to find the solution to the puzzle first and add a new block to the chain.

As you can see, this algorithm requires quite a lot of energy, which generates a lot of greenhouse gasses and other pollutants. According to recent estimates, the emission of greenhouse gasses from Bitcoin mining alone is comparable to that of countries like New Zealand!

However, as mentioned above, this negative impact on the environment can be rectified by adopting changes in technology. One of the most promising approaches here is using blockchain frameworks based on Proof of Stake instead of Proof of Work.

Proof of Stake

Proof of Stake (PoS) is a popular alternative to Proof of Work (PoW) in blockchain technology. It has gained popularity in recent years due to its ability to provide a more sustainable and environmentally friendly solution to blockchain validation while maintaining security and decentralization.

Instead of relying on the intense computational power of miners to validate transactions, PoS operates on the principle of “staking.”

Essentially, participants in the network are required to hold a certain amount of the cryptocurrency to be eligible to validate transactions. The more cryptocurrency held, the higher the chances of being chosen to validate the next block.

This solution not only reduces the energy consumption associated with PoW but also encourages long-term investment in cryptocurrency.

Switch to Renewables

The use of renewable energy is another way to make blockchain more sustainable. The fact is that if the energy used by miners is derived from renewable sources, the impact of blockchain on the environment will be minimal.

Countries could drive the effort, facilitating a switch from fossil fuel plants to solar, wind, and nuclear power — non-emissive energy sources.

In addition, individuals and organizations themselves could try to offset their blockchain-related carbon footprint by investing in renewable energy sources. To illustrate the point, buildings can be covered with solar panels, and the electricity produced could be used to power mining rigs. Doing so would offset the carbon footprint and reduce energy costs.

how to decrease pollution caused by bitcoin mining

Building a solar or wind farm to power a mining operation might seem like a costly investment, but in the long run, it would pay off more than most can imagine.

Optimization of Equipment

Another way to make the blockchain more sustainable is to optimize equipment efficiency. Miners can do it in several ways:

  • Using specialized hardware for mining, which is more energy-efficient;
  • Minimizing heat loss by using proper cooling methods;
  • Using equipment that can be upgraded to the latest and most efficient models as they become available.

These methods will not only help reduce energy consumption but also reduce costs. Plus, they are relatively easy to implement, making them an attractive option for miners who want to make their rigs greener.

Improved Regulatory Efforts

Regulatory efforts are also crucial in making blockchain more sustainable. Many countries are still in the process of developing legislation on cryptocurrencies and blockchain.

energy efficient technologies

In most cases, these regulations do not take into account the environmental impact of this technology. As a result, in many places, miners can operate without any restrictions.

Improving regulatory efforts will help ensure that miners are required to follow certain environmental standards. For example, they could be required to use energy-efficient equipment or switch to renewable energy sources. Alternatively, the government could establish limits on the total energy consumption of mining operations.

These types of regulations would help make the blockchain more sustainable while still allowing it to develop and grow.

Final Thoughts

The blockchain industry is still in its early stages of development. Yet, even at this stage, it significantly impacts the environment. The main reason for this is the fact that blockchain technology consumes a lot of energy.

Fortunately, there are ways to make this industry more sustainable.

One of the most promising approaches is the use of blockchain frameworks that are based on Proof of Stake instead of Proof of Work. The use of renewable energy and the optimization of equipment efficiency can also reduce the environmental impact of blockchain. Finally, improved regulatory efforts will help ensure that miners are required to follow certain environmental standards.

Ultimately, these efforts can make the blockchain more sustainable and reduce its environmental impact.

Recommended Reading: Eco-friendly Hosting Solutions for Bitcoin Mining

5 Ways Artificial Intelligence is Helping to Save Our Planet

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It takes a high level of data analysis to predict the effects of climate change and the implications of our actions to stop and adapt to it. Often, scientists have terabytes of data, but not the computing power to make sense of climate issues like hurricanes. But this level of analysis is possible with artificial intelligence (AI). In fact, AI may be the best weapon we have to combat and adapt to the effects of climate change. That’s because it can analyze large chunks of data from past events and make accurate predictions about future ones.

Today, AI is helping to monitor and predict everything from glacier retreat to commercial waste management. As innovations in “deep learning” march on, AI’s prescience will help inform scientists about climate impacts and policymakers on the most prudent steps for adaptation. Here are some critical ways AI is helping to preserve our planet.

1. Smarter Home Energy Use

AI is helping save the planet by assisting homeowners through energy-efficient smart homes. The Internet of Things and today’s “smart devices” let homeowners control their energy use and lower their monthly bills. Smart thermostats can adjust temperature settings for specific rooms in a house. Smart water sprinklers can change water usage based on weather forecasts. And smart security systems can cut down on false alarms calls — so fewer gas-guzzling trips by first responders. The automation, connection, and prediction power built into these smart devices allow homeowners to lower their carbon footprint.

smart-homes

But smart energy use is not just about conservation — it’s also about the best time to use energy. Peak energy hours like evenings are higher-demand, higher-cost times. Smart devices can automate energy use for low-demand hours. Plus, off-peak times like mid-day are when alternative energy sources like solar and wind contribute the most. Therefore, smart technology promotes renewable energy.

2. Soil Conservation

Soil degradation is a problem often overlooked in the media. But it has serious consequences for humanity’s ability to adapt to and survive climate change. It takes a millennium to generate only three centimeters of topsoil, and soil degradation is happening at a much faster rate. Chemicals, deforestation, erosion, and global warming are major contributors to soil degradation. And if the current rate of degradation continues, the planet’s farmable land could disappear within 60 years, according to United Nations officials.

sustainable agriculture

But farmers and scientists are using AI to help conserve the soil by marshaling complex algorithms along with robots and drones to detect erosion and monitor soil health. For example, one company has developed an agricultural app to help farmers identify nutrient deficiencies within their soil. And farmers are using machine learning to predict the best times to plant, irrigate, and harvest crops based on weather changes. Accurate predictions mean less need for pesticides and fertilizers, which degrade the soil.

Also Read: Role of Machine Learning in Data Science

3. Exploring and Protecting Oceans

Scientists watch and test the health of oceans because they’re the best indicators of Earth’s health. Microplastics, increased CO2 levels, and ocean acidification are changing the surface of the planet. The key to protecting oceans is exploring and monitoring them for changes. Climate scientists and oceanographers are using AI technology to drive autonomous marine vehicles to the deepest depths. And some companies are developing autonomous garbage collection systems that would help remove plastics and floating debris.

garbage in ocean

Another emerging technology — blockchain — is helping to track fishing and identify illegal behavior. Blockchain is the same technology that powers cryptocurrencies like Bitcoin. The technology acts as a transparent ledger for transactions. Blockchain is a decentralized system, which means it operates autonomously and isn’t subject to misuse and abuse. Trust is critical to international treaties that regulate fishing quotas and manage overfishing. Blockchain technology can record each fish (e.g., tuna) with a scannable code uploaded to the ledger. Therefore, retailers, customers, and regulators can confirm that fish are legally caught.

4. Air Pollution Detection

AI is becoming an invaluable tool for tracking our air quality and identifying sources of pollution. During accidental emissions, city air quality officials need to identify and respond quickly. Some European cities are using leak sensors and AI to help create emission maps, predict mortality rates, and estimate financial costs of emergency responses. These data points give decision makers a more accurate view of the air pollution along with more targeted remediation.

air-pollution-repurcussions

In addition to monitoring air pollution, AI is also cutting tailpipe emissions. AI manages self-driving cars to make getting from point A-to-B more efficient. Self-driving automobiles can cut oil consumption and greenhouse gas emissions by 2% to 4% annually. AI and global positioning systems operating driverless tractor-trailer rigs will make deliveries non-stop, faster, and less costly to the planet. Complex algorithms, sensors, and traffic lights are directing traffic flow in some cities. These systems are currently reducing travel time by 25%, braking by 30%, and idling time by 40%.

5. Evaluating the Efficacy of Action

AI is bringing powerful ways to monitor and predict threats to our environment. Synthetic thinking adds value for scientists, officials, and policymakers by giving them deeper looks into current environmental situations. Perhaps, more than anything, AI’s biggest potential lies in figuring out where solutions hit the mark and where they miss. It’s counterproductive to invest resources and time into bad solutions. But that’s highly likely, given the complexity of climate change and adaptation.

Where do we invest? Which coastline needs saving the most? What communities are at a higher risk? With dwindling resources and bigger dangers, we will face some hard decisions in the future about where to deploy our efforts. At some point, those decisions will mean life or death. We will need quick thinking and accurate data. Evaluating our options and predicting their implications is where AI will bring the most value.

A Beginner’s Guide to Futures Trading

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Futures crypto trading is an efficient financial tool that allows to bet on the future assets prices and gain profits. The process might seem rather complicated for a beginner trader, so in this article, we will come up with a simple futures trading guide to help you understand what steps should be taken for successful trading.

Trading Futures Guide

Before explaining how to trade crypto futures, it would be appropriate to mention some crucial aspects every experienced trader knows:

  • To predict the future price of a crypto asset, you should analyze its fluctuations in the past and find some historical indicators and patterns.
  • You should be able to read crypto charts and see the market trends.
  • Carry out technical analysis of the asset.
  • Consider the news background, which also affects the price movements.
  • Evaluate the global economic situation.

Beginners Guide to Trading Futures

First, pick an asset you want to use for futures trading. Choose popular crypto coins with large trade volumes and market capitalisation. Little-known assets are not a good idea for futures trading, as their rates are incredibly volatile. We recommend picking Bitcoin, Ethereum, Solana, and other credible assets.

Next, pick a platform where you will trade – Binance, WhiteBIT, Kraken, or any other large exchange supporting futures trading.

Then deposit crypto to your account and pick the leverage you want to use. Different crypto platforms offer different leverage. It can be 5x, 10x, 20x, or 100x. Then pick the type of order you want to enter the market with. It can be long or short (sell assets or buy). Also, mention the number of contracts you want to make. Some futures trading strategies imply using several contracts to hedge risks.

To practice how futures trading works, welcome to the WhiteBIT platform. It allows for demo trading using demo tokens, which you can’t lose or deposit. Having enough practice in demo trading, you will receive valuable experience and skills for future trading on real markets.

What Is A Bitcoin Wallet? Everything You Need To Know

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Crypto wallets are an important addition for anyone who wishes to be a part of the crypto ecosystem. These wallets are specially designed to store information regarding your digital assets. At the same time, it is also important to mention here that these wallets are protected by highly confidential keys.

Accessible And User-Friendly Bitcoin Wallets

There are two kinds of keys that protect a crypto wallet one is the public and the other one is a private key. Taking this a step ahead let’s understand more about the bitcoin wallet and what are the key aspects associated with it. When it comes to cryptocurrency transactions, crypto wallets are an integral part of it. At the time of registration on a crypto exchange platform or when you want to use a bitcoin ATM, you would require a wallet where you will be finally receiving the cryptocurrencies.

There are different types of wallets however, most importantly, you should note that several companies provide them. Not every crypto wallet may be suitable for you because each of them holds its own set of pros and cons.

The two basic classifications of a crypto wallet are under the following categories:

  1. Hardware wallet
  2. Software wallet

Software wallet

These are like digital bank accounts. You can send and receive and manage cryptocurrencies using a software wallet. A software wallet gets installed on your computer and works with an active  internet connection. Make sure that you don’t use a public Wi-Fi system for this as there is a greater probability of breaching attempts. In simple terms, you can say that this wallet is like a keychain where you store the keys that give you access to your crypto. To protect the wallet, they are designed to generate seat phrases which are usually between 12 to 24.

Securing the software wallet

One of the easiest ways to crack your software wallet is to secure the keys and you must keep a backup. Crypto wallets come with a feature for restoring and backup. With it, it becomes easier for you to get back the information and details even if you lose the wallet. To ensure complete safety, you should write your recovery key on a piece of paper.

bitcoin wallet principles

Hardware wallet

The next option that you have is a hardware wallet. As evident from the name this wallet has a physical existence and doesn’t need the power of the internet to access.  As compared to the software wallet, the hardware wallets are considered to be a safer option primarily because they don’t need an internet connection. This adds to the layer of security. However, there is always a probability of losing the wallet and so one has to be very cautious while using it.

You can get a hardware wallet from dollar 32 up to dollar hundred. These wallets provide the user complete access to their digital assets however it may be less convenient than using a hot wallet since you always need to carry a physical product for this.

What’s next?

Once you have gotten I estimate of the type of wallet you want to invest in, the next step is to invest in one and start trading using the right crypto exchange platform. As much as it is important to get a good crypto wallet, it is equally significant to register yourself on a trusted platform where in you can access all the cryptocurrencies of your interest.

Doing proper research is a must if you are willing to make the most out of your investment in cryptocurrencies. You must explore the different types of crypto wallets available in the market.

Nowadays, you have different cryptocurrencies like utility tokens, security tokens, stablecoins, national cryptocurrencies and others. This gives you more scope for diversifying your investment portfolio and getting into the mode of being a seasoned investor.

Conclusion

Cryptocurrencies are here to stay, and you may like it or not, you cannot certainly ignore the growing face of cryptocurrencies. Whether it is bitcoin or Ethereum or non-fungible tokens, decentralized finance is slowly penetrating the lives of individuals and then changing the global economy. Hence this is the right time to make a start and choose like this auto-trading bot

How Much Energy Do Bitcoin and Other Cryptocurrencies Consume?

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With its value skyrocketing in recent years, Bitcoin is a hot topic right now. But the value of a Bitcoin is not the only thing that is growing. In fact, Cambridge University research suggests that Bitcoin uses more electricity on a yearly basis than entire countries. Mining for cryptocurrency uses a lot of power, and requires heavy computer calculations to verify cryptocurrency transactions. According to the researchers, this consumes over 120 terawatt-hours (TWh) annually, and this power use is unlikely to fall unless the value of Bitcoin drops.

Is Bitcoin Bad for the Environment?

Many believe that cryptocurrency is the currency of the future, but is it bad for the environment? Will Bitcoin and other cryptocurrencies undo the hard work that has been put in around the world so far to improve the condition and health of the planet? According to some critics, Tesla’s decision to make heavy investments in Bitcoin undermines the environmental image displayed by the electric car company.

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The rising price of Bitcoin offers even more incentive to miners to run even more machines and consume more power. As the value of Bitcoin increases, so does the energy consumption that is used to mine it, according to researchers at the Cambridge Centre for Alternative Finance.

Exactly How Much Energy Does Bitcoin Consume?

How much energy is consumed due to the increasing popularity of cryptocurrency trading? According to the online tool developed by the Cambridge researchers, Bitcoin’s electricity consumption is currently ranked above several countries including Argentina, the Netherlands, and the United Arab Emirates. It’s using a very similar amount of energy to the amount that Norway uses on a yearly basis.

In the UK, the energy that Bitcoin uses could be used to power all the electric kettles in the country for almost three decades. However, in comparison, the amount of electricity that is consumed on a yearly basis by devices that are left switched on but inactive in homes around the US could power the entire Bitcoin network for a full year.

How is Bitcoin Mined?

Mining Bitcoin requires often specialized computers which are connected to the cryptocurrency network. They are used to verify transactions by people who sell or purchase Bitcoin. As part of the process, Bitcoin miners are required to solve puzzles that are not integral to providing verification, but ensure that there is a hurdle to cross to ensure that the global record of all Bitcoin transactions is not edited fraudulently. As a reward for completing these, Bitcoin miners will occasionally receive small amounts of Bitcoin.

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Higher prices have increased the value of these rewards, and fueled wider interest in buying and selling crypto via increasingly diverse methods beyond using exchanges. At the same time, some miners have expanded their networks to consist of multiple computers. Some will even set up entire warehouses of computers that are there for mining Bitcoin alone. Since the computers are working to solve the puzzles on a constant basis, this uses a huge amount of electricity.

While Bitcoin is becoming more and more popular as an alternative currency and investment option around the world, how efficient is it really?

6 Simple Ways to Earn More Bitcoins

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Buying the Bitcoin may not be a viable option for many investors. In such a situation, there are some alternatives to earning the Bitcoin besides buying it. And the good news is that for most of these alternative means, you actually have to do practically nothing to start earning the crypto coins. Below is a list of the simple ways one can earn the Bitcoin:

  1. To begin with, you can start earning the Bitcoin when you have an account in a cryptocurrency exchange. The best crypto exchanges where you can buy BTC are KuCoin, Binance, and CoinMama etc. This is almost similar to people keeping their funds in bank accounts and getting interests on deposits. Here, you can simply lend out your Bitcoins in exchange for other crypto coins or get Bitcoins in exchange of traditional fiat currencies like the USD or GBP. When you can transfer Bitcoins to a financial service provider, it is possible to earn interest over time.
  2. You can enjoy cashback in BTC when you shop for something online. For instance, eBay offers buyers a cash-back offer for purchasing from hundreds of sites; they have tie-ups with almost all big retailers. When you install the Chrome Extension and make an account, eBay notifies you when there are discounts on any retailer website. All you have to do is click on this to get your discounts and after each quarter eBay gives you a check. Another popular site offering similar advantages if Lolli which will give you cash back in Bitcoin when you buy from websites like Macy’s or Sephora.
  3. You can accept payments in Bitcoin for services you render. There are many people who are now accepting Bitcoin as salaries for their work. For freelancers like musicians, artists, and writer, this can be a viable option. Examples are Bit wage, Angel’s List, Jobs4Bitcoin, Crypto Jobs, and Crypto Grind etc.
  4. You could also earn Bitcoin through mining. You will need specialized computers capable of solving complex mathematical puzzles to earn rewards. For operating a mining rig on your own, you are going to need dedicated mining hardware, mining software, a wallet etc. Solo mining will not yield profits as desired, and joining a mining pool may give you higher payouts.
  5. Earning Bitcoin is possible through trading and this is by far the simplest way to earn more Bitcoins. You will find multiple trading strategies to trade Bitcoins and traders typically have their own preferred methods for trading. One way is using automated bitcoin trading software applications. The most commonly used method is leverage trading where traders borrow money for bolstering trading, and these are called crypto loans. Copy trading strategies can help you to make a mark in the crypto market with relative ease.
  6. You can also earn more Bitcoins with affiliate marketing; this is the most popular method for news websites, bloggers and social media influencers to make more money. For this companies will give you promotional codes and unique URLs that you must send out to your respective audiences. If anyone clicks on these links and thereafter makes a buy, you get a reward.