The e-naira app has been downloaded 840,000 times in the ten months after it was first made available by the Nigerian central bank. Based on this information, it appears that less than one million Nigerians have adopted the digital money. The CBN's goal, as stated by Governor Godwin Emefiele, is to make the CBDC available to all citizens of Nigeria.
Blockchain has made headlines recently for using more energy than airlines or even entire countries. Different types of chains have different impacts on the environment based on how they're designed. The proof-of-stake (POS) model is significantly more energy-friendly than the traditional Proof of Work (POW) model. Blockchains operate differently than traditional IT systems. Different types of chains have different impacts on the environment based on how they're designed. Proof-of-work (POW) is what's behind traditional "mining," where miners compete to solve a mathematical puzzle. The Bitcoin Foundation has switched to a more energy-friendly model of proof-of-stake. Proof-of-stake (POS) requires those working on the chain to have skin in the game. POS also reduces power consumption and accelerates the handling of transactions. The model is being adopted by big names in the industry such as Bitcoin, & Ripple.
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