Altcoins and cryptocurrency sector representatives continue their work on advertising and awareness.
Advertisement for Algorand (ALGO) Altcoin Will Be Broadcast in Times Square
Algorand According to the Foundation’s statement on Monday, a dark practice for environmental awareness will be held in New York’s famous Times Square on April 21.
About an hour before the square will turn into darkness, an advertisement of the altcoin will be published, trying to be sensitive to the environment.
This move by Algorand comes at a time when the cryptocurrency industry is the focus of criticism on energy and carbon emissions.
As it is known, the Proof of Work mechanism used by Bitcoin and Ethereum Blockchains differs in terms of energy use compared to the new systems used by chains such as Algorand.
“We Aim to Break the Prejudices Regarding the Energy Use of Blockchain Technology”
Algorand Foundation CEO Staci Warden said that with the advertising event they will organize, they aim to debunk the myths about the carbon emission of Blockchain technology and to raise awareness about the environmental effectiveness of the ads published in Times Square:
“We want to raise public awareness that chains like Algorand are much greener and more sustainable than first-generation Proof of Work Blockchains, thanks to advances in blockchain technology.
In addition, we aim to convince the public that next-generation Blockchains are much more environmentally friendly than traditional banking and finance.”
In his statement, the Altcoin representative said that 6,500 kilowatt / hour electrical energy will be saved thanks to the darkness of the square for 1 hour. Warden stated that with this amount of energy, 350 million transactions can be made on the Algorand Blockchain:
“We set the level for other projects to follow. We want them to see that a blockchain is both energy efficient and capable of performing complex transactions with precision and scale with security.”
*Not investment advice.