While the cryptocurrency space still has its flaws in multiple areas, one of the most complex issues remains the mining process. More specifically, the amount of energy used to make the mining possible. Bitcoin mining is undoubtedly the largest spender out there, and electricity necessary to mine the largest coin goes up to some quite incredible amounts.
Many point out that this also leads to adding to environmental pollution, instead of helping reduce it, which is yet another major problem. Luckily, in this day and age, switching to clean energy appears to be taking more and more attention, particularly in some European countries. With that in mind, it is not surprising that there are several projects in the crypto industry that aim to address the issue, and potentially come up with a solution. VenusEnergy is one such project which is holding its ICO right now.
VenusEnergy is a project that aims to offer an alternative way of approaching the mining of cryptocurrencies. As mentioned, the mining process uses quite a lot of electricity, which leads to large-scale environmental pollution. VenusEnergy's idea is to start using electricity generated from renewable sources. That would solve both problems — crypto mining's need for large quantities of energy, as well as the pollution that comes as a consequence of creating enough energy.
The idea would support the 'Green World' initiative, and also help create a well-built financial model. Further, the migration towards renewable energy sources in the crypto/blockchain sector might even end up leading to the same result in other areas.
This is one of the reasons why VenusEnergy has received quite a lot of support from the crypto community and why the project has a great chance of succeeding.
As mentioned, VenusEnergy's token sale has already started, beginning on June 1st, and with plans to end on August 31st. However, this is not really an ICO, but an IEO that is being launched on Exmarkets Launchpad. This provides the project with support from a trusted backer, as well as greater exposure to potential investors.
The token itself, VENUS, is a utility designed on Ethereum's network, which makes it yet another ERC-20 token. It has an available MVP and bounty, and its current price is 0.00225 EUR per VENUS. However, the token can only be purchased in exchange for ETH, and fiat currencies are not being accepted.
The project has set a soft cap of 14,799,160 EUR, and a hard cap of 30,101,460 EUR. It is based in Estonia, and anyone can join in, apart from two areas — US and China. Everyone else can participate after going through a KYC procedure.
|Start||June 1, 2019|
|End||August 31, 2019|
I have checked out the website of VenusEnergy and saw that with 24 days left before the end of the ICO, they are barely scrambling to meet the softcap. Pity that a startup with such a bright idea won't get the funding it needs to really scale up their operations. Not sure what they did wrong, perhaps it was the lack of effort on the part of marketing, or maybe it is the fact that the integration of renewable solutions in the mining industry has been a growing trend of this year, and VenusEnergy just can't keep up with the competition. In any case, I wish them good luck in hitting that softcap.
Like many ordinary people, I was ignorant of the immense harm that the process of acquiring electricity from fossil fuels is causing to our environment. I was convinced that the environmentalists are just spreading panic among people in order to get more money through various government programs. That was before I saw what happened to my native town that has a large electricity-producing plant. In just 15 years into has literally turned into a wasteland simply because the management found some loophole that allowed to disregard the CO2 emission levels. So, from now on, I am a big ‘for-green-energy’ guy, and I am in full support of VenusEnergy because this is an investment in the future.
Only absolutely ignorant people don’t recognize that ‘green’ is the only way in which the world in general, and the mining industry in particular, should develop. Otherwise, we’ll suffer the same fate as dinosaurs sooner rather than later - mankind will extinct. Therefore, I would like to express my unconditional support to VenusEnergy, underpinned by the purchase of a substantial amount of VENUS. Frankly speaking, I don’t know how this project will turn out, but I must support the green revolution by any means possible.
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