Mark Weaden
Bitcoin Latinum provides a more scalable solution for a sustainable cryptocurrency network
The cryptocurrency industry has been under the microscope throughout 2021, with its carbon footprint at the top of the list of criticisms from skeptics and the media cycle. This week we saw Bitcoin Latinum join the Crypto Climate Accord (CCA) as a Signatory and Supporter.
Bitcoin Latinum (LTNM) will provide changes to the network in order to help the Bitcoin blockchain reduce its carbon footprint. But, it's not just greener solutions. LTNM will execute improved transaction speed, with lower fees, and increasing the overall security of the blockchain.
Latinum offers certain changes that will transform the way Bitcoin functions. Another point to note is the fact that it is launched with 80% of pre-mined Latinum, resulting in no waste in electricity to mine coins.
What is Bitcoin Latinum?
Essentially, it is the next-generation Bitcoin fork that offers environmentally friendly solutions to existing Bitcoin mining processes. As well as this, it will speed up transactions and provide increased security. This is something that adds great value to BTC—the Ethereum blockchain for example, executes transactions much quicker than that of Bitcoin—not just as a mechanism to reduce energy output.
The Ethereum blockchain is being used to underpin mainly new technologies and services, while Bitcoin hasn’t been utilized half as much. This is largely due to concerns over its carbon footprint. But, the crypto community wants Bitcoin. This is where Bitcoin Latinum comes in, providing a means of enhancing the Bitcoin code and operating at a more optimal level.
Bitcoin Latinum to use Proof of Stake
The main issue Bitcoin has had with its Proof of Stake (PoS) protocol is that it requires a lot of power to handle transactions. LTNM will provide a new mechanism, reducing the number of nodes and complex equations to mine BTC, therefore lowering the overall energy usage.
The CCA is an organization focused on achieving a net-zero carbon footprint using the best industry standards possible. The carbon footprint issue, which was released earlier this year, stands as one of the only real issues Bitcoin has in terms of mainstream integration. Anything that negatively impacts the climate should be taken very seriously and the cryptocurrency community has reacted well to the report.
