Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
Non-alternative energy for the extraction of alternative money
The Ministry of Energy of Ukraine submitted a proposal for a state-owned company to study the issue of mining in order to conquer additional markets for electricity. As a result of a global pandemic, electricity consumption in Ukraine has significantly decreased, referring to the energy crisis, the need for correlation will be implemented using alternative energy sources.
The Ministry of Energy has lowered the forecast of electricity production at all power plants in the country, except for "green" generation and CHP. It should also be noted that such a decision was made in favor of the owner of alternative energy sources, the so–called "renewable energy" – Rinat Akhmetov. It is he who owns the plantations of solar panels in the east of Ukraine.
Due to the fact that according to experts, energy production at CHP and renewable energy sources may even increase, the opinion was born that it is very profitable from the point of view of the owner of most coal mines in Ukraine and solar energy. The largest company in the market of "alternative" energy is the energy holding "DTEK Energo" by Rinat Akhmetov.
The company's portfolio includes 1 GW of green capacity. The holding also owns 9 out of 14 Ukrainian thermal power plants, and this company DTEK Energo is one of the largest coal miners in the country. The Ministry of Energy and Energy notes that "The new balance will ensure the sustainable operation of the coal sector, which is one of the most important elements of Ukraine's energy independence."
It is worth noting that the cost of alternative energy currently exceeds the cost of nuclear energy by 4 times. However, due to the decrease in the sales market, at the state level, the Ministry of Energy and Environmental Protection proposed to the state company NAEK Energoatom to consider the possibility of mining cryptocurrencies.
The corresponding order was sent to the Nuclear Energy Development Administration. This is stated in the order of the Acting Minister of Energy Olga Buslovets to the Directorate for the Development of Nuclear Energy and the Nuclear Industry of Energoatom.
The following is written in the text of the document: "I instruct to work together with VP Energoatom-Trading on regulatory and technical issues of the possible implementation of projects with the mining of cryptocurrencies in order to provide additional markets for electricity produced by nuclear power plants."
According to the press release of Energoatom, from May 5, only 10 out of 15 power units will operate at nuclear power plants in Ukraine. Accordingly, this will lead to a decrease in the production of nuclear electricity and the replacement of the deficit with alternative types of energy.
Since an alternative for Ukraine has already been provided and determined, then due to the impossibility of operating a nuclear power plant on a shift schedule, the nuclear power industry will have to look for new sales markets, and the most popular of these markets may be cryptocurrency mining.
The cost of mining any crypt directly depends on the cost of electricity spent on mining a block with coins. Crypto farms are always based in those countries where the cost of electricity is as low as possible. It is quite possible that the only way to survive for non-alternative energy will be alternative money.
