One of the biggest arguments against crypto in times past was the negative impact mining had on the environment. A typical big blockchain like Ethereum could consume electricity equivalent to what a medium-sized country like Spain would use in a year.
However, the new generation Cryptos like Monero (XMR), Filecoin (FIL), and Presale TMS Network (TMSN) have hacked it and their prices are surging in Q1 as a result.
Filecoin (FIL) and Sustainable Mining
Filecoin (FIL) is a blockchain built to provide storage for Enterprise end users
Filecoin (FIL) supports audit, immutability, and portability, and many more data characteristics absent in the cloud storage providing space.
However, unlike blockchains like Bitcoin which are energy intensive due to a proof-of-work consensus mechanism, Filecoin (FIL) is very sustainable. The protocol uses both a proof-of-stake and a proof-of-space mechanism to validate transactions. And miners, file storage providers, on Filecoin (FIL) are rewarded with tokens.
Get more information on Filecoin mining.
In this climate-change battlefield that our world has become, such a sustainable option is very attractive to investors and Filecoin (FIL) price is seeing proof of this in its 2023 Q1 positive price movement.
Monero (XMR)
Monero (XMR) is a platform built solely for the purpose of providing anonymity for its users’ transactions. It uses various methods such as ring signatures and stealth addresses to obscure the movement of transactions on the blockchain ensuring total privacy.
Although the Monero (XMR) platform still operates a proof-of-work mechanism, it is decentralized and takes special care to ensure that mining Monero (XMR) tokens are easily accessible to users. That means as long as miners have access to computers anywhere they can easily mine Monero (XMR) without purchasing expensive equipment.
Monero (XMR) also uses a special algorithm called RandomX to protect against ASIC mining.
There has been quite a lot of controversy surrounding Monero (XMR)’s preoccupation with privacy. However, the token’s price has continued to hold its own in Q1 2023.
TMS Network (TMSN) Leading the Presale Train in Q1 2023
Finally, TMS Network (TMSN) is considered one of the greatest successes of Q1 2023 by investors.
Although the crypto is still in its presale phase, it has already attracted the eyes of the crypto market even managing to raise up to $2 million in a seed fund recently.
TMS Network (TMSN) is the first-ever all-in-one trading platform for CFDs, Forex, Stocks, and Digital Assets among other things. The unique thing about this groundbreaking platform is that it is decentralized, leveraging blockchain technology to provide fast, secure, and transparent transactions for its users.
In fact, on TMS Network (TMSN), users can deposit and withdraw cryptocurrencies in real-time, and unlike traditional trading platforms, TMS Network (TMSN) also offers solutions like social trading, risk management tools, portfolio management, and on-chain analysis to ensure a smooth experience for traders all on one place.
The native token of the TMS Network, $TMSN also grants users premium service, token burn, voting rights, and many more benefits.
To Wrap it up
2023 has been a pretty good year so far for the crypto ecosystem. Monero (XMR), Filecoin (FIL), and presale TMS Network (TMSN) are evidence of this as their prices show no sign of slowing down from the new year’s bullish surge. Now with the issue of sustainable mining being resolved, the world of crypto is slowly but surely shutting down the naysayers and gaining even further adoption.