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It’s usually powered by wind, sun, water, and other sources that are naturally replenished. Therefore, the supply is unlimited.</p>\n<p>When it comes to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">
cryptocurrencies and, specifically, the process of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">
mining coins or tokens, <strong>renewable energy is perceived as a possible solution to the massive energy consumption problem within the sector</strong>. </p>\n<p>Blockchains are decentralized public ledgers that record transactions and assets. They rely on <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-github/">
proof-of-work (PoW)</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">proof-of-stake (PoS)</strong></a> consensus protocols to enable mining which is essentially the process of verifying the legitimacy of each incoming transaction. </p>\n<p>In order to verify a transaction and, in turn, receive a reward, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-miner/">miners must solve complex mathematical puzzles. There are specialized computers that facilitate this process.</p>\n<p>Millions of miners are at work at this very moment <strong>for cryptocurrencies</strong> like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum, and many others. Sustainability enthusiasts are concerned about the impact this kind of energy use will bring.</p>\n<p>It’s in the miner’s best interest to maintain low mining costs, therefore, they search for the cheapest options. Unsurprisingly, as the number of cryptocurrency miners grows, so does the consumption of energy. Especially, the kind of energy that is not sustainable or renewable and the kind of energy that leaves a significant footprint within our environment. </p>\n<p>This is why the call for renewable energy in the crypto sector is becoming louder and louder. </p>\n<p>Carbon dioxide equivalent (CO2e) accounts for not only carbon dioxide (CO2) but also methane (CH4), nitrous oxide (N20), and other gases that directly affect climate change. Carbon dioxide equivalent is a great metric when comparing energy sources.</p>\n<p>What does this have to do with renewable energy? 1kWh of electricity generated by natural gas like fossil fuel emits over a hundred times more carbon dioxide than the entire life cycle of a wind turbine. These numbers, without a doubt, put in perspective how much energy sources matter when it comes to maintaining environmental sustainability.</p>\n<p>Bitcoin is one of the cryptocurrencies that’s receiving the most backlash regarding environmental concerns. Elon Musk, who initially endorsed Bitcoin, stopped Bitcoin purchases in 2021 for an unspecified period of time due to the growing concerns about the massive amounts of fossil fuels used for crypto mining.</p>\n<p>However, the crypto sector is not blind to this movement. There are many various crypto projects that are making efforts to study renewable energy sources and mining energy recycling. An example of a sustainable cryptocurrency is SolarCoin (SLR) which is backed by solar power.</p>\n<p>The <strong>benefits of renewable energy</strong> include the infinite potential for creating energy since the resources like wind, sun, and others can’t be exhausted. Additionally, it minimizes the environmental damage. Additionally, since renewable energy sources can’t be exhausted, they won’t experience sudden price fluctuations. Moreover, solar energy is becoming one of the cheapest energy resources of all time and has the potential to become a game-changer. </p>\n<p>The entire crypto industry will have to face this problem sooner or later, and by joining the sustainable energy efforts now they can improve morale within the crypto community while also showing critics that an alternative sustainable solution is possible. </p>","level":"hard","meta_title":"What is Renewable Energy? Definition & Meaning | Crypto Wiki","meta_description":"Renewable Energy meaning: Renewable Energy - is the kind of energy that is regularly renewed from natural sources.","meta_keywords":null,"language":"en","created_at":"2022-03-28T14:21:26.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-renewable-energy"},"prevSection":{"id":666,"original_id":null,"author_id":43,"translator_id":null,"title":"What are Regional/Local/Community Currencies?","slug":"what-are-regional-local-community-currencies","section":"R","keyword":"Regional/Local/Community Currencies","status":"published","definition":"can be defined as money that's used in a specific geographic area.","content":"<p><strong>Regional/Local/Community Currencies</strong> are a certain <strong>type of currency that is specific to a geographic area</strong>. However, each of them differs in its own ways.</p>\n<p>Community currencies are usually spent within that specific community. Local currencies refer to money being exchanged in a specific geographic area. On the other hand, regional currencies are connected to local currencies except this money is used in a much bigger geographic area.</p>\n<p>The currency’s value can be determined by a variety of factors. Some regions equate their local currency to the state’s currency. While some smaller communities prefer to provide labor as a means of exchange. Therefore, forgery is something a local currency seldom has to face.</p>\n<p>There are as many reasons for creating local currencies as there are local currencies themselves. Here are some examples of why they pop up:</p>\n<ul>\n<li>In order to <strong>support local businesses</strong> by spending only within the community, area, or region;</li>\n<li><strong>Skepticism in regards to the legal tender</strong>. High inflation leaves people scrambling for different mediums of exchange. It’s particularly prominent in South America and has been around for hundreds of years;</li>\n<li>The belief within the community that <strong>the focus should not be on maximizing profit</strong>. Certain communities believe that by using the state’s currency they’re discouraging the interactions between members of said community. It’s more of a social reason that can have some positive developments like increased employment, local business promotion, and others.</li>\n</ul>\n<p>It’s difficult to say what action the government will take as a result of a growing local currency. However, it’s clear that it can become a threat to the state’s currency. </p>\n<p>It’s important to note that the originators of local currencies prefer for them to lose value over time. That way people won’t hoard the money. </p>\n<p>This is where the crypto sector comes in where the communities can fix a certain amount of the local currency to a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">token. Blockchain technology offers a method of automating local currencies while also allowing them to slowly lose value based on a set rate. </p>","level":"medium","meta_title":"What are Regional/Local/Community Currencies? Definition & Meaning | Crypto Wiki","meta_description":"Regional/Local/Community Currencies meaning: Regional/Local/Community Currencies - can be defined as money that's used in a specific geographic area.","meta_keywords":null,"language":"en","created_at":"2022-03-28T14:15:53.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-are-regional-local-community-currencies"},"currentChapter":"R","currentSection":"what-does-rekt-mean","chapterTitle":"R","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-does-rekt-mean","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter R
What does REKT mean?
REKT MEANING:
REKT -
REKT, an internet slang term for wrecked, is used within the trade market when someone experiences a big loss.
Let's find out REKT meaning, definition in crypto,
what does REKT mean,
and all other detailed facts.
The term REKT is derived from the word “wrecked” that’s defined as something damaged beyond repair or destroyed. It’s commonly used internet slang.
When it comes to cryptocurrency trading, REKT is used as a way to say that someone has lost a large investment.
For example, if you were to invest all of your money in a new cryptocurrency that seemed to be growing in price, but a few days later the price drops significantly, you and the new cryptocurrency would be considered REKT.
However, do not mistake being REKT and the loss of fiat money. This term describes the loss of an investment in a digital asset. Therefore, it’s not the same as losing actual money since said digital asset can increase in value once more just like Bitcoin did in 2020 after being REKT in 2018.
