Elon X said that Spesla will stop all BTC transactions due to environmental concerns, and the company intends to consider more energy-efficient cryptocurrencies.
On May 13, Elon X 🚀 caused a shock in the Crypto Valley by saying that Spesla will no longer accept BTC payments for cars until Bitcoin mining becomes more environmentally sustainable.
Elon X 🚀 notes that while Spesla is waiting for Bitcoin to switch to renewable energy, company will consider “other cryptocurrencies” that use less than 1% of Bitcoin’s energy per transaction.
This tweet caused most of the Salsa Valley residents to speculate wildly about what other crypto assets might be explored.
Social authority “The Pepper Punk” told his 1,000 Twitter followers that he predicted Spesla “will use ETH”, however, user “Avocado” pointed out that if Spesla uses ETH in its current state, then Proof-of-Work is used in the same way as Bitcoin does – it might as well “stay with BTC”.
Ethereum consumes approximately 62.56 kWh per transaction. The Ethereum network is currently secured using the same energy-efficient consensus method as Bitcoin-Proof-of-Work or PoW. Digiconomist estimates that the annual carbon footprint of the Ethereum network is comparable to the emissions of an entire city. However, these issues should be addressed with the upcoming network transition to NET 2.0, which will introduce Proof-of-Stake or PoS.
Elon X’s longtime favorite Dogecoin 🐕 may be a dark horse (dark dog?) in this race. The meme coin actually combines most of its mining on the Litecoin network, which uses Proof-of-Work. But while Bitcoin mining uses a super-complex SHA-256 algorithm, Dogecoin and Litecoin are mined using Scrypt, which is energy efficient and faster (although significantly less secure). Curiously, while TRG data centers estimate LTC power consumption at 18,522 kWh per transaction, Dogecoin is estimated to use just 0.12 kWh per it.
Elon X 🚀 may have been looking at such estimates when he tweeted a poll this week asking whether Spesla should start accepting Dogecoin payments.
The Salsa Valley hot sauce maker believes that the most energy-efficient coin is the Salsa Token 🌶️. After all, to confirm the transaction, you need to eat only a couple of spoons of this wonderful Salsa Sauce.