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    UK Court awards £20m Damages in favour of Nigeria against P&ID

    FG, States, LGs share ₦2.00 Trillion for month of July 2025

    SEC warns against investing with GVEST Global’s illegal schemes

    SEC warns against investing with GVEST Global’s illegal schemes

    Only 23% of Nigerians trust INEC- Report says

    APGA candidates win Anambra by-elections

    US deficit grows to US$291 billion in July – Reports

    US deficit grows to US$291 billion in July – Reports

    Onitsha River Port receives first container barge for 2025 season

    Onitsha River Port receives first container barge for 2025 season

    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

    WAEC releases 2025 WASSCE results, how to check yours

    President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

    Festus Keyamo – Our Plans for the Murtala Mohammed International Airport Lagos

    Weekly Market Report: NGX rose 0.48% as Conoil shareholders lose 18.89%

    Conoil Plc reports 88.8% drop in profit to N900 million in H1 2025

    Brent crude oil price rise above $70 on OPEC projections

    OPEC+ agrees to increase oil production for September

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    “CBN plans to shut down financial transactions” – Apex Bank warns of fake news

    CBN’s Monetary Policy Committee retains interest rate at 27.50%

    President Tinubu approves establishment of South-East Investment Company

    President Tinubu approves establishment of South-East Investment Company

    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

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    • Economic Data
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    • Companies
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    Shareholder’s resolutions at Guaranty Trust Bank’s Annual General Meeting

    GTBank gets ₦365.85 billion capital injection, meets new minimum capital requirement

    NNPC and Partners to build first methanol plant in Nigeria

    NNPCL is under Attack – Bayo Ojulari, Group CEO

    Access Bank Plc to be delisted from the NGX, and be replaced by Access Holdings Plc

    Access Holdings Plc appoints Mr. Innocent Ike as Group MD/CEO

    Nigeria: Status of China loans and the satellite lost in space due to power failure

    International Energy Insurance Plc announces full and final repayment of JPY1.85 billion Coupon Bonds due 2028

    AIICO Board of Directors approve Dividend Payment and  2021 Financial Statements

    International Breweries appoints Temitope Oluwatosin as Company Secretary

    Outcome of Cadbury Nigeria Plc and Berger Paints Nigeria Plc Board meetings

    International Energy Insurance Plc calls an emergency Board meeting

    Wema Bank Plc surpasses recapitalisation target

    Wema Bank Plc surpasses recapitalisation target

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    Augusto & Co. upgrades Globus Bank Limited’s rating to A and A1

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

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    Beta Glass Plc Shareholders to be presented with a N1.04 dividend for 2020

    STANBIC IBTC ETF 30 announces ₦3.144 interim Dividend

    CAP Plc Shareholders approve N2.10kobo dividend per ordinary share for 2020 financial year

    SIAML Pension ETF 40 announces ₦12.44 interim Dividend

    Cutix Plc founder sells additional 1.8 million shares of the company

    VFD Group Plc Employees and others sell millions of VFD Group shares

    Nigerian Exchange – Stock Market report for the week ended 7th July, 2023

    The Nigerian Exchange records impressive performance in H1 2025

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    Cryptocurrency: XRP hits new All-Time High at US$3.65

    NGX suspends trading in the shares of four listed companies

    Banking stocks plunge after CBN suspends banks under regulatory forbearance from paying dividends

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

    CSCS Plc explores listing on the Nigerian Exchange (NGX)

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    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Rovina Medical Diagnostic Services offers free Breast and Prostrate cancer scans

    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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5 Crypto Tokens that claim to be environmentally friendly – ETHER, DOGE, XRP, DOGE, CHIA

Saturday, 15 May 2021, 9:11 am
in Cryptocurrencies, Markets
0
5 Crypto Tokens that claim to be environmentally friendly – ETHER, DOGE, XRP, DOGE, CHIA
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With the Crypto market still reeling from the shock news from Eon Musk and Tesla that the electric car maker will no longer be accepting Bitcoin as payment, because its “insane” energy use threatens the environment, we look at some possible greener option for Musk and Tesla.

Elon Musk in the tweet announced that Tesla is weighing up other cryptocurrencies that use less energy.

Bitcoin mining, 70% of which is done in China, a country where coal power dominates, uses more energy each year as Netherlands did in 2019, according to Cambridge University researchers and the International Energy Agency.

  • Read also; Gernot Rohr Submits Provisional List for Cameroon Friendly

What are the option available for Elon Musk and Tesla in their quest for cryptocurrencies with better environmental footprint? According to Katherine Woller, managing director at retail crypto exchange while speaking to Business insider;

With over 9,500 other cryptocurrencies available, Elon Musk has a plethora of options from which to choose.

Here are five Elon Musk is mostly likely to consider according to Business Insider.

Ether

This is the second-biggest cryptocurrency after bitcoin, with its blockchain Ethereum using the same “proof of work” mining and security system as bitcoin.

The token with a market value of more than $400 billion, is incredibly energy intensive to mine, involving huge numbers of computers solving puzzles to keep the network secure.

Why is Ether as option then if it uses the same “proof of work” as Bitcoin?

The Ethereum blockchain is set to move to a “proof of stake” system, according to Ethereum developers, which will be far less energy intensive.

The Proof of Work vs Proof of Stake argument is a long one, and for the purposes of this article, we will only attempt to state the difference between the two.

Proof of work requires all of its miners to attempt to solve a complex sum, with the winner determined by the person who has the most powerful/quantity of hardware devices.

Proof of stake model randomly chooses the winner based on the amount they have staked.

The change in ether is not set to take place until the end of this year or early 2022.

Cardano

Cardano is a blockchain network, running the cryptocurrency ada, that already use a proof of stake system.

This means users of the network validate transactions and get rewarded with cryptocurrency according to the number of coins they hold and are willing to offer as a sort of down payment.

Cardano uses a tiny fraction of the energy of bitcoin, at 0.55 kilowatt hours per transaction, compared to bitcoin’s 707 KWh, according to internet infrastructure firm TRG Datacenters.

XRP

XRP is the least environmentally damaging cryptocurrency, according to TRG, using 0.0079 KWh of energy per transaction.

The cryptocurrency, associated with development firm Ripple, is the seventh-biggest.

Chia

Chia is a new “green” cryptocurrency which started trading in early May. It was created by Bram Cohen, the inventor of BitTorrent, and uses what’s called “proofs of space and time” system.

Its creator says people farm, rather than mine, the cryptocurrency.

Dogecoin

Elon Musk has often hyped the cryptocurrency, which was started as a joke and is based on an online dog meme.

If his recent tweets are anything to go by, Elon may be positioning to have Tesla accept Dogecoin for payment. We leave these tweets for you to read and decide for your self.

Do you want Tesla to accept Doge?

— Elon Musk (@elonmusk) May 11, 2021

Working with Doge devs to improve system transaction efficiency. Potentially promising.

— Elon Musk (@elonmusk) May 13, 2021

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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