Ethereum has also made strides by transitioning to a proof-of-stake system, reducing its energy consumption by nearly 100%.

The cryptocurrency sector is increasingly focusing on sustainability, with initiatives like Alephium partnering with Gigatons to develop energy-efficient consensus mechanisms.

The cryptocurrency has achieved carbon net zero by offsetting its minimal energy consumption with renewable energy purchases.

XRP's process consumes only 0.0079 kilowatt-hours per transaction, making it the second-most eco-friendly cryptocurrency, following IOTA.

In stark contrast, Bitcoin consumes approximately 707 kilowatt-hours per transaction, highlighting the significant energy efficiency of XRP.

XRP's innovative technology positions it as a promising solution for a greener future in the cryptocurrency landscape.

However, during the same period, coal and natural gas provided 66% of the energy for mining operations, contributing to significant pollution.

Between 2020 and 2021, Bitcoin mining used 173.42 terawatt-hours of electricity, resulting in a carbon footprint comparable to burning 84 billion pounds of coal.

This stark contrast in energy consumption underscores the urgent need for more sustainable practices within the cryptocurrency industry.

XRP, developed by Ripple Labs, is designed to revolutionize cryptocurrency through sustainable practices and a unique consensus mechanism that eliminates the need for mining.

Additionally, XRP settles transactions in just three to five seconds at a cost of fractions of a cent, appealing to environmentally conscious institutions.

A study by the International Monetary Fund highlighted that cryptocurrency mining and AI data centers accounted for 2% of global electricity demand and 1% of carbon dioxide emissions in 2022.