November 30, 2021 7:43:18 pm
One transaction on Solana blockchain network consumes less energy than two Google searches and 24 times less energy than charging your phone, according to a report by the Solana Foundation.
Created by Anatoly Yakovenko, Solana operates on a decentralized computer network using a ledger called blockchain.
Solana claims that it is the fastest blockchain in the world and touts its ability to verify 65,000 transactions per second at a cost of less than a penny each.
The network is designed to be a high-performance blockchain, and is incredibly energy efficient. The report states that a single transaction on Solana network uses 0.00051 kilowatt-hour (kWh), or 1,836 Joules, of energy, while an average search uses 0.0003 kWh or 1,080 Joules of energy.
Further,the report goes on to claim that the entire Solana network uses an estimated 3,186,000 kWh per year, which is equivalent to the average electricity usage of 986 American households.
In May 2021, the Solana Foundation contracted Robert Murphy, an energy and climate advisor, to help initially frame the environmental impact of transactions performed on the Solana global state machine. Transactions are the fundamental building blocks of Solana: Purchasing an NFT, making a trade, or other activities you can perform using Solana are all transactions.
On Solana, there is no need for energy-intensive mining, meaning the network is extremely environmentally efficient. Activities on Solana take much less energy than you might think. In total, the entire Solana network — with 1,196 validator nodes and an estimated 20,000,000 transactions — uses an estimated 3,186,000 kWh per year. This is the equivalent of the average electricity usage of 986 American households.
By the end of 2021, the Solana Foundation plans to introduce a program to help make Solana’s validator network carbon neutral and offset the footprint of the ecosystem.
On the other hand one transaction on Ethereum blockchain utilises about 644,004,000 joules based on the average number of transactions and the amount of energy required to run the network—is comparable to “more than several thousands of VISA card transactions”, as per Statista.
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