Press Release
The importance of sustainability: Why eco-friendly blockchains are the future
As more and more decentralized applications (DApps), such as GameFi, DeFi, NFTs, and more, are being developed, heated discussions about the environmental impact of blockchain and cryptocurrency have reignited once more. Especially after China’s crackdown on cryptocurrency mining activities, public debates about blockchain and crypto-related energy consumption rates have reached a climax.
Proof of Work’s environmental impact
Since the birth of Bitcoin, the Proof of Work (PoW) consensus mechanism has always been fundamental to the security of blockchain networks. This consensus is reached through computing power, commonly referred to as hash rate.
Over time as blockchain technology is being adopted by the world, the energy consumption rate of the entire blockchain network has skyrocketed, leading to significant environmental costs. The University of Cambridge estimates that Bitcoin mining consumes about 130 TWh per year, accounting for about 0.1% of the world’s total primary energy consumption.
As far as DApp development is concerned, energy consumption-related environmental issues are mostly derived from Ethereum mining, since Ethereum is a PoW blockchain with the largest ecosystem full of projects in varying sizes. With the recent London hard fork, the transition to Ethereum 2.0-a complete Proof of Stake (PoS) blockchain, will be completed as early as 2022. As a result, the current energy consumption per transaction on Ethereum is about 35 kWh, which is equivalent to the energy consumption of a single person in developing countries for 3 days.
The true cost of DApp transactions
While mass crypto adoption is happening around the world, DApps and their applicability will eventually catch up. New projects such as wealth management applications, lending platforms, decentralized exchanges (DEX), NFT-inspired metaverses, and more, that are gradually taking over social media and our lives are the ultimate proof. If you have been paying attention to what’s happening around you, the crypto community’s passion and loyalty towards decentralized, immutable technology are clearly reflected in the real world.
That is certainly good news for crypto enthusiasts, but for the environment, it’s an entirely different story. Take NFTs for example. Memo Atken, a digital artist and engineer, estimates that the true cost of an NFT is much higher than a typical energy consumption of a transaction on Ethereum (35 kWh). He believes that NFT-related transactions will cost much more because all NFTs have to be minted and exchanged multiple times on the blockchain.
He is certainly correct. In fact, an NFT’s creation and distribution do not only consist of a simple mint and sale process. There will be many subsequent transactions made by collectors and traders, which makes the average carbon footprint of each NFT close to 340kWh (an average of 211 kg of CO2), equivalent to a single person’s energy consumption in a developed country for more than a month.
Why eco-friendly blockchains are favored by developers
In early 2021, several public blockchains underwent considerable ecosystem expansion, such as ThunderCore, Solana, Polkadot, and Binance Smart Chain. These blockchains’ ecosystems are in full bloom, as decentralized projects like DAOs, Oracles, Token Bridges, DeFi protocols, NFT marketplaces, blockchain games, and more, are being deployed consistently. There are many reasons for the expansion of these networks, but one thing they all have in common is that none of them utilize a PoW consensus mechanism (meaning zero physical mining facilities are used). Instead, novel mechanisms, such as PoS, that allow on-chain staking and other models to replace PoW are applied.
Among them, the ThunderCore blockchain uses the state-of-the-art PoS consensus mechanism, PaLa, which not only solves the “scalability trilemma”, but also supports the chain’s entire ecosystem with cheap renewable energy. ThunderCore is an eco-friendly public blockchain, and its CO2 emissions, resulting from on-chain transactions, are reduced by more than 10,000x. For example, its block creation does not require the support of large amounts of energy resources like Bitcoin and Ethereum do. ThunderCore is also EVM compatible, which allows the rapid migration and deployment of Ethereum projects. With low gas fees (<$0.00001), sub-second confirmations, and 4,000+ TPS, ThunderCore has become a platform favored by developers from the world over.
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections
DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.
Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”
The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.
In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.
The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”
Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation
DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.
Global Compliance Credentials of UVKXE
UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:
U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.
U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.
Background on the Malaysian Public List
The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.
Commitment to Legal Compliance and User-Centric Values
UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.
Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms
DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.
Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”
The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.
Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”
In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.
Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”
Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co
Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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