TRON founder Justin Sun vowed to donate $1 million to help Greta Thunberg’s initiative to stop climate change. But is TRX the answer?
- TRON founder Justin Sun wants to give $1 million to help aid Greta Thunberg’s climate change initiative.
- Sun claims cryptocurrency itself will contribute to decreasing the world’s carbon output.
- But in terms of energy efficiency, cryptocurrency remains vastly less efficient than current digital payment methods such as VISA.
TRON (TRX) founder Justin Sun offered to donate $1 million to Greta Thunberg’s climate change initiative.
TRON: Justin Meets Greta
Sun says he shares Greta Thunberg’s passion to change the world and reiterated the potential for cryptocurrency to reduce the carbon footprint. The TRON founder tweeted:
Sun’s tweet comes a day after leaders from the United Nations met in Madrid to hash out their long-term global response to climate change. An agreement was made to postpone decision-making until the next major conference of 2020, to be held in Glasgow.
The TRON creator’s vow to combat climate change was met with a cynical response on social media. Some hinted the $1 million pledge was the latest in a long line of fruitless PR stunts by the TRX frontman.
Others took aim at the wider climate change narrative. One commenter voiced the increasingly-held view that Greta Thunberg was merely the latest political puppet to be paraded on the world stage.
Crypto’s Carbon Footprint
In 2017, data from CleanCoin suggested Bitcoin was 180,000 times less efficient than VISA when measuring for carbon output.
Bitcoin’s 56,000,000 Th/s hashrate at the time of the study has since doubled. Ethereum, by comparison, has a hashrate of 114 Th/s – but even then, ETH still consumes 30,000 times more energy per transaction than VISA.
TRON’s carbon efficiency would presumably be similar to Ethereum’s given both projects share much of the same code.
Crypto investors currently have more to worry about than the carbon footprint. As the global cryptocurrency market continues to fall, many major coins now approach a point of no return.
Last year, the NEM (XEM) Foundation was forced to radically restructure after the falling XEM coin price depleted their operating budget.
Likewise, EOS (EOS) Block Producers are already eating into their own funds after the coin price fell below $2.50.
This article was edited by Samburaj Das.