According to research conducted by Cambridge University, Bitcoin mining consumes over 120 Terawatt Hours per year. This energy consumption is equivalent to the energy consumption of a small country such as Norway and would be ranked in the top 30 list of countries based on their energy consumption.

The carbon footprint of Bitcoin mining has increased exponentially over the last few users. About 65% of the Bitcoin miners are based in China that relies solely on coal-based power plants which emit unmanageable gases in the air. 

There is a crucial need for cryptocurrencies to adopt a greener approach, and Bitcoin Latinum is leading the charge with this initiative. Bitcoin Latinum is a next-gen cryptocurrency that utilizes a modified version of the Proof of Stake consensus protocol to bring a green revolution to the crypto ecosystem. 

Bitcoin Latinum’s Green Approach

Bitcoin Latinum uses a Proof of Stake consensus protocol rather than the energy-intensive Proof of Work protocol. Bitcoin’s Proof of Work protocol was developed to create a decentralized p2p network but it cannot handle the increased user demand. Bitcoin’s Proof of Work algorithm has a low transaction rate that cannot manage the current transaction volume. 

The PoW mechanism requires users to solve complex computations that consume an exorbitant amount of power resulting in larger power bills and the growing environmental concerns. 

Bitcoin Latinum, on the other hand, uses an advanced version of the Proof of Stake mechanism that can handle a larger number of transactions per second. In addition, the PoS mechanism does not require miners or nodes to solve complex transactions, lowering the energy consumption.  

To contribute to publishing blocks, a node must hold Latinum tokens to stake in a pool. The LTNM tokens are then staked into a staking pool which then helps in development of new tokens. The whole process can be done on a personal computer and can cut down the electricity consumption by 99%. 

Bitcoin Latinum mining revolves around staking tokens by the nodes. If a node (miner) publishes an invalid transaction, they will lose their staked tokens and can be banned from participating in the future. Also, as Bitcoin Latinum has already pre-mined 80% of their tokens, it has effectively planned to keep the platform sustainable in the future. 

Many prominent blockchains such as Ethereum, are also slowly shifting towards the PoS protocol to ensure a positive and sustainable future of their blockchain network. 

Bitcoin Latinum - Proof of Stake advantages over Proof of Work

Bitcoin Latinum has developed a  robust ecosystem that rectifies the problems Bitcoin is facing and offers better functionality and sustainability. The platform offers faster Transactions with the help of PoS mechanism using a higher transaction per rate than PoW protocol. Moreover, as PoS mechanisms can manage more transactions, there is minimal network congestion that reduces the transaction costs.

To ensure the integrity of the Bitcoin Latinum, the platform implements various Workload Protection Strategies. These strategies include a criteria for node approval and insuring the assets stored on the network. 

Bitcoin Latinum is secured from 51% attacks and uses a governance model powered by the staking model derived from PoS protocol to keep the ecosystem decentralized. The PoS protocol does not require a large amount of energy as the PoW protocol which reduces the carbon footprint and ensures sustainability.

Bitcoin Latinum is at the forefront of bringing a green revolution to the crypto ecosystem. The inefficient mining activities have prompted mining hubs such as China to impose restrictions. These restrictions are forcing blockchain networks to optimize their functionalities and Bitcoin Latinum is leading the change. 

 For more information about the green initiative by Bitcoin Latinum, visit https://bitcoinlatinum.com