Ripple Lawyer, John Deaton says Elon Musk, CEO of Tesla, has just handed over the best advertising campaign to the Ripple and XRP cryptocurrency.
Elon Musk Withdraw from Bitcoin Following Environmental Concerns
As Fxcryptonews reported, the electric car maker abandoned bitcoin payments due to environmental issues and which lowered the price of the biggest crypto to $45,700 before recovering.
Deaton took the lead in efforts to get XRP owners involved in the lawsuit between Ripple and the US Securities and Exchange Commission. He believes that more mainstream reports will now be devoted to sustainable currencies.
Brad Garlinghouse, CEO of Ripple, and other senior executives have always had high attitudes towards XRP’s green reputation. In a recent interview, Garlinghouse claimed that the token’s energy efficiency is 10,000 times that of Bitcoin.
At the same time, Ripple co-founder Chris Larsen suggested that the number one cryptocurrency should ditch the power-consuming proof-of-work mechanism in order to maintain its dominant position.
Last month, Ripple also joined the “Crypto Climate Accord” to decarbonise all blockchains.
Musk Considering Energy Efficiency Crypto
Elon Musk said in the blockbuster announcement that his company is exploring other cryptocurrency alternatives that use less than one percent of Bitcoin’s electricity.
Of course, XRP is far from the only “green” competitor. Beniamin Mincu, CEO of Elrond Network, said “Elrond is the solution”.
Stellar, Algorand, Cardano, IOTA and Nano are sustainable cryptocurrencies.
Dogecoin is a meme coin that Tesla is currently considering for payment. Due to the Scrypt mining algorithm, the energy efficiency is also higher than that of Bitcoin.