2. Stop the crazy energy consumption!

2. Stop the crazy energy consumption!

Globycoin chooses to reduce the tremendous energy consumption, needed for mining activities. Unlike leading cryptocurrencies such as Bitcoin and Ethereum. Bitcoin, Ethereum and countless others are highly provoking further aggravation of environmental issues, like global warming. The annualized estimated global mining comes at a cost of a scary $3,556,216,066! The electricity needed for one single Bitcoin transaction can provide the power for 34.47 homes for a whole day. We have reached a point of no return and we feel like this insanity has to be stopped. Now! And Globycoin provides the way to do this! This is why Globycoin has decided to implement the PoS protocol (Proof of Stake), which reduces energy consumption tremendously and is environmentally friendly and efficient. It means that the power needed to verify and complete one transaction takes only a tiny fraction of the energy that e.g. Bitcoin needs to do the very same. It’s all inherent to their technology, which is based on the PoW protocol (Proof of Work). The consequence of their protocol is that while the calculations that need to be solved, before one is assigned a block and its reward, are becoming more and more complex, the more and more power is needed to mine the coins, hence to earn the reward. As we speak old power plants are being purchased just for mining coins! The PoS protocol that Globycoin uses, doesn’t require such an enormous calculation power. The block and its reward are simply being assigned based on the number of stakes. Of course, our PoS technology requires electric power as well. But so does any regular financial institution. It’s just that PoW is using up temerarious loads of energy, while Globycoin’s PoS does not. If we also keep in mind that masternodes are completely safe, faster and provide even more privacy, I would say that it is easy to see why Globycoin has a golden future. We truly believe that the implemented protocol will take over the preference of mining in the near future. We believe that with this, our Globycoin will overall become the most innovative cryptocurrency. One of the safest, fastest coins to date compared to the competitors that we have right now. Through the coin and its Foundation’s projects, we believe that everybody will be given an opportunity to earn money, while investing in our planet to create a better environment. This is truly a coin for everyone.

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