The past few months have witnessed several new cryptocurrencies launches, however, just a few of them have considered the development of the ecosystem. 4NEW claims to be the first coin which will seek to save electricity in a bit to protect the environment.
It is quite a known fact that bitcoin mining requires a tremendous amount of electricity and by the time this power consumption rate has only gotten higher than the end of 2017, one Bitcoin transaction was consuming power equivalent to the average consumption of about 10.5 US households. Reports emerged online state that the current figures have gone even higher – the resources required is tremendous as it amounts to the average consumption of a total of 17.5 US households. Some sort of solution has to come up with this situation as it is clearly not sustainable in the future as it raises alarming concerns regarding the issue of carbon footprint.
4NEW to the rescue!!
4NEW seems to have come up with a solution to address this issue. As they intend to implement an innovative method to tackle this issue. 4NEW claim to launch an eco-friendly power plant that generates electricity from collected and processed waste. They also said that the facility would completely be integrated into a blockchain network and dedicated to mining.
The 4NEW team revealed that they aim to hit two targets with one shot– The targets here refer to the problem of energy shortfalls and waste surplus.Further-more they will provide a platform based on a waste treatment infrastructure casing the entire process. This process includes the entire procedure of waste collection, electricity generation and also applying it to the process of cryptocurrency transaction.
Saransh Sharma, president of 4NEW stated “Given the utilitarian nature of our services, Our team is confident that 4NEW will successfully integrate the blockchain network within the real world applications of energy consumption by the crypto community which will lead to a widespread acceptance of the technology”
He also further added, “Our seasonal (sic) management team, with over 300 years of collective experience, brings an enormous and diversified perspective that has empowered 4NEW to explore rare and unthinkable opportunities.”
The process of the first electricity saving Blockchain technology
Waste collection: 4NEW has tied up with several waste and energy industries, which permits them to get waste from aggregators at a reasonable rate and keep collection costs at a bare minimum.
Power generation: 4NEW’s waste-to-energy treatment plants have been producing power in Europe and North America for more than 60 years.The way they generate power is by making use of an innovative technological process to turn the collected waste to energy. This process has already been tested it in a number of countries and the results are a success.
Access to electricity: KWATT coin will be the source of gathering electricity on the blockchain available for miners. For this process to work KWATT holders will willingly stake their coins with miners, as this is done the miners will then be permitted to make use of the energy represented by the coin to process cryptocurrency transactions.
Arguably the most significant feature of the 4NEW Ecosystem is that the energy produced is absolutely free, given the revenue gathered from waste processing. Given the current scenario, Bitcoin mining will undoubtedly get increasingly harder to sustain its profitability. Leaving users of 4NEW with an unmatched edge over the other actors amongst the mining industry as they aim to protect the ecosystem, and also the fact they receive free energy.
ICO details of 4NEW
The pre-sale round closed last year on December 15, 2017. However, the 4NEW public sale is still on and live until March 31, 2018. They have already achieved their soft cap, raising an amount well over $41.5 million and rising.