Digital currencies have long held promise and controversy, hailed as a step toward financial independence but criticized for their heavy toll on the planet. Now, a project seeks to change how cryptocurrencies work in a world increasingly defined by climate consciousness.
As detailed by the International Business Timesentrepreneur John Ortmann and his team introduced Bitcoin.ℏ in 2024 as a sustainable alternative designed for the next generation of environmentally conscious investors. Built on the Hedera Hashgraph Network instead of a traditional blockchain, bitcoin.ℏ processes transactions quickly without the massive energy demands that defined early cryptocurrencies such as bitcoin.
Traditional cryptocurrency mining, which relies on a proof-of-work consensus mechanism, consumes enormous amounts of energy. One of the most resource-intensive cryptocurrencies used 154.9 billion kilowatt hours in 2013 alone, more than the annual energy consumption of 167 countries combined. This environmental pressure has pushed innovators to explore cleaner approaches to digital finance.
Ortmann’s team designed Bitcoin.ℏ with this goal in mind. “We want to give people an opportunity for growth that doesn’t destroy the planet,” Ortmann told the Times.
Hedera’s governance system is decentralized like that of other cryptocurrencies, but it is not anonymous. Instead, it is overseen by institutions around the world, giving it increased credibility and transparency. Its hashgraph consensus algorithm enables thousands of transactions per second while maintaining security through a “gossip about gossip” protocol and virtual voting. “We have a 39-member board of directors. That’s one of the most unique features of Hedera,” says Ortmann. said.
Another defining characteristic: predictable and low-cost transactions. While the price of many cryptocurrencies fluctuates based on network activity, Bitcoin.ℏ maintains a fixed translation fee of just $0.001.
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Although its name echoes the original bitcoin, Ortmann emphasized that bitcoinℏ is “not associated with any cryptocurrency that still relies on the energy-consuming PoW method.” He described it as a “common-sense cryptocurrency,” according to the Times.
As the crypto industry addresses its environmental issues, Bitcoin.ℏ shows that digital currencies can combine efficiency, transparency, and predictable costs while reducing their impact on the planet.
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