News
  • Zameer Attar
    author-profile
    Zameer Attar right arrow
    Author

    Zameer is a financial analyst and writer with a particular interest in cryptocurrency markets. He has been studying cryptocurrencies and their market behavior for several years and deeply understands the factors that affect the price of cryptocurrencies. His expertise lies in his ability to use both technical and fundamental analysis to make informed predictions about the future direction of cryptocurrency prices. He has a strong understanding of market sentiment and uses this to inform his trading decisions and price predictions.

    • Reviewed by: Anjali Belgaumkar
      author profile
      Anjali Belgaumkar right arrow
      Reviewed

      Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

      • author twitter
      • author linkedin
    • 2 minutes read

    Pi Network Uses 99.7% Less Energy Than Bitcoin: Here’s Why It Matters

    Story Highlights
    • Pi Network aligns with the UN’s global warming approach by allowing users to mine coins on mobile without high-powered servers.

    • Crypto mining, especially Bitcoin largely depends on fossil fuel-based power grids, which contributes to global warming.

    Pi Network is pushing forward a “planet-friendly” strategy, aligning it with the United Nations’ net-zero and decarbonization targets. Unlike traditional cryptocurrencies that rely on energy-intensive proof of work (POW) algorithms, Pi is designed to consume minimal energy in operation. 

    How Pi Network Aligns with the UN’s Global Warming Approach?

    The UN’s Paris Agreement centers on limiting global warming below 2°C, preferably to 1.5°C. However, high-energy-consuming crypto, like Bitcoin, negatively affects the approach. 

    Pi Network is one of the several technologies to support this strategy of the UN. The network uses the Stellar Consensus Protocol (SCP), which allows users to mine coins on smartphones without high-powered servers or specialized hardware. It does not require massive energy consumption or generate substantial carbon emissions, which significantly contribute to global warming.  

    Dr Altcoin, a crypto analyst, stated, “Pi Network’s energy-efficient consensus mechanism directly supports these goals by consuming dramatically less energy.” 

    “Even with all 400,000 nodes running, Pi Network uses approximately 99.7% less energy than Bitcoin, operating at just about 0.3% of Bitcoin’s annual consumption (≈0.5 TWh vs. ≈170 TWh),” he added. 

    Crypto Mining Fueling Global Warming

    The massive electricity demand of crypto mining potentially increases the carbon footprint and strains local power systems, which leads to global warming. Despite introducing major initiatives and proposals to change the position of crypto mining, the Bitcoin industry still largely depends on fossil fuel-based power grids. This move is counterproductive to net-zero goals. 

    In 2023, the UN reported, “Bitcoin mining heavily relies on fossil energy sources, with coal accounting for 45% of Bitcoin’s energy supply mix, followed by natural gas (21%).”

    UN’s Net-Zero Fully Implements by 2050

    The United Nations’s targets were formally introduced as part of the Paris Agreement on December 12, 2015, at COP21 in Paris. It entered into force on November 4, 2016, intending to be fully implemented by 2050. A crucial interim target is to reduce global greenhouse gas emissions by 45% by 2030, compared to 2010 levels.

    Currently, several blockchain-based platforms are developing to track carbon emissions and manage renewable energy projects. These energy-efficient blockchain alternatives, like Pi Network, present a sustainable model to align with the UN’s environmentally friendly protocol. 

    Never Miss a Beat in the Crypto World!

    Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

    FAQs

    How does Pi Network support UN climate goals?

    Pi Network aligns with UN net-zero targets by using energy-efficient Stellar Consensus Protocol (SCP), consuming 99.7% less energy than Bitcoin (0.5 TWh vs 170 TWh annually).

    What makes Pi Network more eco-friendly than Bitcoin?

    Unlike Bitcoin’s energy-intensive PoW, Pi enables smartphone mining via SCP – eliminating need for specialized hardware and reducing carbon emissions significantly.

    Show More

    Related Articles

    Back to top button