How Bitcoin Energy Issues is Fueling a Market for Better Alternatives

By now, it is safe to assume that most people in the world have heard of Bitcoin, even in passing. As the world’s most valuable and famous cryptocurrency, Bitcoin has introduced the industry to the mainstream, generated billions in income for its investors, and is on track to change how we view money forever.

By now, it is safe to assume that most people in the world have heard of Bitcoin, even in passing. As the world’s most valuable and famous cryptocurrency, Bitcoin has introduced the industry to the mainstream, generated billions in income for its investors, and is on track to change how we view money forever.

However, despite all of this, Bitcoin is not without its flaws, specifically energy-related flaws. Mining, the process of creating Bitcoin, is notorious for its high energy consumption, and this has earned the industry a poor reputation for using as much energy as entire countries.

Cryptocurrency has been moving to a new phase of growth and as it goes mainstream, this issue has to be addressed head-on. Major tokens like ether have seen their blockchains announce overhauls that can cut their energy consumption by up to 95%.

Bitcoin, on the other hand, has seen no such change thus far, even with major companies like Tesla canceling plans to accept Bitcoin due to energy concerns. With the long-term dominance of the world’s biggest crypto in question because of the energy issue, there is concern about the future of not just Bitcoin, but the industry at large.

However, alternatives have popped up within the industry that might just be the solution to the Bitcoin energy debacle. Take Bitcoin Latinum (LTNM), a next-generation insured asset-backed cryptocurrency that offers its users the benefits of Bitcoin while avoiding its common pitfalls.

All About Bitcoin Latinum

This new cryptocurrency was developed by Monsoon Blockchain Corporation on behalf of the Bitcoin Latinum Foundation and exists to bring the benefits of Bitcoin while addressing some of the issues that users have been facing for years. LTNM is significantly faster than the Bitcoin network and offers more scalability at a cheaper cost.

Its biggest selling point, however, is its green setup.  Bitcoin Latinum uses a fraction of the energy of Bitcoin and achieves this through a similar method to Ethereum, which is by switching to a proof-of-stake (PoS) algorithm. This means that computers do not need to complete complex and energy-intensive mathematical procedures to confirm transactions.

This not only reduces energy requirements but increases the TPS rate of the network while lowering the costs of transactions. The token is also backed by real-world assets and 80% of the transaction fees collected are put back into an asset fund that ensures the increase of the asset value over time. 

Latinum to the Moon 

The project has seen a lot of support from the public and just recently announced its fourth exchange listing since its inception. By the end of December 2021, the token will be listed on BitMart and LTNM will be available for BTC and USDT pairs. This will make it more visible to the public and will also help drive more adoption of the token, all this fueled by its already existing demand.

“The strong demand for new digital currencies such as Bitcoin Latinum is clear. BitMart is the perfect digital exchange partner as it is our fourth exchange to date,” said Donald Basile, Founder of Bitcoin Latinum and CEO of Monsoon Blockchain Corporation. “This is a milestone event in the history of Bitcoin Latinum and the beginning of an exciting journey and we continue to reach wider audiences and showcase our coins' unique digital assets around the world."

This growth of Latinum is more than just a potential alternative to Bitcoin but a sign of changing times in the industry. The popularity of cryptocurrency means that the market is not limited to a handful of tokens with major flaws but is expanding and giving way for newer innovative offerings.