Transacting on Solana less energy-intensive than on Bitcoin, Ethereum, report reveals

0
4

Those looking at the metaverse from outside the crypto sector are often horrified by the carbon footprint of NFTs or the energy consumed while using Ethereum. However, Solana’s Energy Use Report for November 2021 puts numbers into perspective and signals a new trend in the crypto sector – the push to be eco-friendly.

Greener than Google?

Solana’s report stated,

“In the November 2021 update, the Solana Foundation determined that a single Solana transaction takes 0.00051 kWh, or 1,836 Joules of energy.”

To help readers better visualize this value, the report also provided a list of other common activities and their energy requirements. For example, Solana uses more energy than a single Google search, which reportedly consumes around 1,080 Joules.

However, a Solana transaction is less energy-intensive than working for an hour on the computer, which reportedly needs approximately 46,800 Joules. As Solana plans to onboard 1 billion users and 1 million developers, it’s easy to see how the electricity bill adds up.

Coming to blockchains, Solana’s per transaction energy consumption rate was many times lower than that of an Eth2 transaction, which used 126,000 Joules, according to Solana’s report. Meanwhile, one Ethereum transaction used about 692,820,000 Joules while the same on Bitcoin was a formidable 6,995,592,000 Joules.

Yet another competition?

With Ethereum’s gas fees and the heavy electricity bill, there’s a lot of pressure on…

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here