Cryptocurrency is coming interesting day by day. Different countries are treating the digital currencies differently. On their part, Russia’s cryptocurrency miners will observe the Earth hour on 24th march in their own way. They have renamed it as the Crypto hour, and on that day between 8.30 pm to 9.30 pm they will turn off their mining equipment for one hour.
The campaign was started by Peter Dvoryankin who is also the founder of International Investor Network Cryptolife. He asked all cryptocurrency miners in the world to create awareness about ecological mining. The campaign is becoming popular, and already about 50,000 people have promised to participate.
The main aim of this campaign to start ecological mining maps which will show the more friendly places for cryptocurrency mining that have renewable sources of energy. The areas favored should also have the right temperatures. This is according to Dvoryankin who is a member of the Russian parliament expert council of development.
According to Dvoryankin, the campaigns are aimed at: “creating a system that can use the heat generated during mining which will lead to the development of less energy-intensive distributed edger technologies.”
For cryptocurrency mining to be complete continuous flow of power is required so as to keep the network up and running all the time. A recent research shows that cryptocurrency mining computers use more than 55 terawatt-hours of electricity per year in the world. It’s estimated that is the current growth rate of electricity consumption does not come down then Bitcoin mining will consume electricity as much as the rest of the world can consume by 2020. The effects will also be more since the heat produced during mining also contributes to global warming, though marginally.
Earth hour has been observed every year, and it’s a movement for nature which is organized by World Wide Fund to turn off all electricity for one hour to come together and think of the negative impact being caused by rising energy consumption level. This is why miners have converted the time to a crypto hour in a bit to inform other miners to look for solutions to mining while protecting the environment.