How CUDOSMarkets is changing Bitcoin mining with NFTs.
The Bitcoin network is always in controversy because of its PoW nature and its significant use of electricity. According to many research studies, the bitcoin network consumes 84 TWh per year, which is equivalent to Argentina’s annual electricity consumption. The problematic part of this is that a large portion of this electricity consumption comes from fossil fuel-generated electricity, which is not a great sign for the environment. Many suggest that shifting towards clean mining like hydro, wind, and solar can be a great solution, but the efforts to make this happen are minimal. This is when CUDOSMarkets comes into the picture. In this article, we will explore how CUDOSMarkets can change this.
Eco-Friendly Bitcoin Mining
As you are all aware, CUDOSMarkets is only introducing mining farms that use 100% renewable energy to mine bitcoin. As a result, CUDOSMarkets is becoming a more appealing choice for consumers looking for a more environmentally friendly way to mine bitcoin. Those mining farms, on the other hand, that are still utilising traditional ways to mine bitcoin, can transition to sustainable energy sources to mine bitcoin. This will eventually assist to minimise the overall carbon footprint of the bitcoin network.
More decentralisation of the network
Because of the uncertainty in the bitcoin price, many mining farms do not want to set up bitcoin mining farms. That is why they do not establish bitcoin mining firms; however, using CUDOSMarkets, they can sell NFTs to obtain funds to continue mining bitcoin because they can now monetize their hashrate output ability. This will gradually expand the number of bitcoin miners and participants. As we all know, the more miners there are, the more decentralised the bitcoin network becomes.
High participation in the network
Many people want to mine bitcoins, but they don’t have the amount of money to build a bitcoin mining setup, including the electricity consumption, which can be on the higher side depending on the place or country you live in. But with CUDOSMarkets, you can mine bitcoin without any mining setup, without any electricity consumption, or without any legal issues. You just have to hold hashrate NFTs in your Cudos wallet, and the issuer mining farm will mine bitcoin for you. Which will eventually increase the number of people who want to mine bitcoin via hashrate NFTs, resulting in a larger number of people participating in the Bitcoin network.
Conclusion
These are the few points, according to me, that can change the traditional bitcoin mining industry. CUDOSMarkets has the capability to reduce the carbon footprint of the bitcoin network while also increasing its decentralisation and participation. I believe in the bitcoin network, and initiatives like CUDOSMarkets can help in the betterment of the whole bitcoin network.
More about CUDOSMarkets
However, hashrate NFTs are not the only thing coming to CUDOS markets; in this article, we will examine tokenized infrastructure and discuss potential future applications for CUDOS markets.
Aside from NFT buyers, collectors, and bitcoin miners, CUDOS Markets is bringing gamers onto the platform. Gamers can compete for hashrate NFT, and there is also the possibility that a team can organise some kind of competition in which gamers participate, such as a tournament for gamers, to make mining Bitcoin more enjoyable for everyone.
