Dfinity Foundation says ICP consumes less energy than Cardano, partners with Carbon Crowd to launch ‘proof of green’ initiative News โธ Cardano · Internet Computer โธ Technology
Dfinity Foundation says ICP consumes less energy than Cardano, partners with Carbon Crowd to launch ‘proof of green’ initiative
Dfinity noted a growing concern of "greenwashing" in the blockchain industry as most networks claim to be the most sustainable.
2 min read
Updated: Apr. 19, 2023 at 1:45 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
A single Cardano (ADA) transaction consumes 8,598 times more energy than a transaction on the Internet Computer (ICP) blockchain network, according to Dfinity Foundation.
In an April 18 press statement shared with CryptoSlate, the Foundation said ICP was one of the greenest blockchains, adding that a single Google search consumes four times more energy than a transaction on the network.
According to the Foundation, ICP consumes less energy than competing blockchain networks like Solana (SOL), Avalanche (AVAX), Algorand (ALGO), Tezos (XTZ), and Cardano.
The Dfinity Foundation is the development team behind the Internet Computer network.
Dfinity launches proof of green initiative
The non-profit blockchain Foundation has partnered with Carbon Crowd to launch a Proof of Green (PoG) initiative.
The PoG initiative is designed to bring transparency and cut greenwashing in the blockchain industry by standardizing how blockchain networks report their carbon consumption.
Dfinity noted a growing concern of “greenwashing” in the blockchain industry as most networks claim to be the most sustainable. However, a European Commission report found that 42% of website claims were “exaggerated, false or deceptive.”
To combat this, the PoG concept gives blockchain networks the necessary tools to substantiate their claims.
“The PoG initiative works by measuring the electricity draw of network devices. The carbon intensity of the electricity used by a device is determined by a number of factors, including the energy source e.g. coal, natural gas, wind, solar, hydroelectric. Once the carbon emissions have been determined and validated, it should be reported to the relevant parties, and made public. The data must be human and machine-readable.”
A senior research Scientist at Dfinity Aisling Connolly said PoG is an energy reporting style that leverages the transparency around blockchain systems. According to Connolly, the concept should be widely adopted and “should be an industry standard.”
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Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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