Some significant claims have been made by the Solana (SOL) Foundation as this has caught the attention of both the cryptocurrency community and proponents of the said digital asset. It was stated that a transaction on SOL’s network is eating up less energy than a couple of searches in Google.
The report released by the Solana Foundation noted that a transaction within their network only utilizes 0.00051 kilowatt-hours (kWh) of energy which translates to 1,836 Joules. That said, if Google’s old blog post is anything to go by, a typical search on the search engine would require 0.0003 kWh which is equivalent to 1,080 Joules of energy. It was also mentioned that such energy consumption is 24 times lesser than juicing up one’s smartphone.
Also, another surprising claim from the report is suggestive that the entirety of Solana’s network only consumes an approximate annual consumption of 3,186,000 kWh. This is equivalent to the standard energy consumption of 986 households in the United States.
Back in May of this year, the Solana Foundation tapped the services of Robert Murphy in producing a write-up that aims in framing the environmental effects of TXs on the cryptocurrency’s network. For the uninitiated Murphy is the founder of Othersphere, not to mention World Bank’s former energy specialist.
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With that in mind, it’s worth noting that the decentralization of the network of Solana is lesser in comparison to both Ethereum (ETH) and bitcoin (BTC). It only has a validator node count of 1,196 as this is estimated to process around 20 million transactions every year. Additionally, the report also stated that the Solana Foundation is planning to reduce its network’s energy usage way further through the implementation of a program before 2021 wraps up. SOL’s network aims to become carbon-neutral, not to mention offsetting their environmental footprint of the ecosystem.
It’s worth noting, however, that further details are yet to be provided by Solana in terms of the network’s intent to buy carbon offsets or the reduction of its emissions.
For those who may not know, Solana is reliant on a consensus mechanism known as proof-of-stake. This makes the cryptocurrency’s network to become less energy-intensive than those of bitcoin and Ethereum that relies on the proof-of-work method.
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