A lot of computers are run 24 hours to mine the cryptocurrency that adopted the consensus algorithm of POW including Bitcoin. Morgan Stanley forecasted that “the amount of electricity to be consumed for mining in 2018 will reach 125 TWh.” This is the amount that increased by 330% from the amount of electricity consumed for mining (37 TWh) in 2017. This amount is almost the same as the amount of electricity consumed in the whole of Argentina.
As a huge amount of electricity is being consumed in cryptocurrency mining, mining is blamed for accelerating global warming. The amount of CO2 caused by computer mining is estimated at 1.77 million tons a year. This amount of CO2 will bring forward the date of Tuvalu, small islands in the Pacific Ocean sinking underwater and accelerate the forest destruction.
In particular, in China, over 70% of the mining electricity comes from coal-fired power plants, which harms the neighboring countries with fine dust. Korea is suffering from this fine dust. Global warming issue caused by mining is spreading to the world beyond the problem of a single country.
Also, miners who purchased a large quantity of the mining machines got a huge economic loss as the cryptocurrency prices dropped. Currently running a mining farm makes a loss as Bitcoin price is higher than the mining cost.
Due to this reason, it is urgent for cryptocurrency ecosystem to adopt new ideas getting out of the existing computer mining. Recently new ideas come up to solve these problems. For example, Constantinople Hardfork of Ethereum, which is a move to POS method from POW, is about to come.
Ad-OS tries to solve the problems of environmental destruction, economic damage, and waste of electricity caused by the current cryptocurrency mining. Ad-OS rewards with Amond token as the medium of advertisement for the consumer’s purchasing power and time. This method provides opportunities that anyone can acquire cryptocurrency without any environmental damage and economic risk. This means transforming consumption power human being creates into the economic value.
Create your own value through AmonD’s ad. operating ecosystem.