Solana (SOL) consumes less energy than two Google searches, report claims 🚨 This article is 3 years old...
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Solana (SOL) consumes less energy than two Google searches, report claims
Solana Foundation's energy report claims that a transaction conducted on the Solana blockchain is comparatively less than what’s used to charge a phone.
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Updated: Nov. 29, 2021 at 10:30 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Blockchain network Solana has disclosed key findings highlighting the network’s fast processing and minimal energy consumption in its energy report for November.
Solana foundation claimed that a transaction processed on Solana consumes less energy than two Google searches, making it one of the fastest networks for conducting crypto transactions.
Founded in 2019, Solana’s (SOL) blockchain ecosystem has quickly emerged as one of the most popular proof-of-stake networks, with a record of processing 50,000 transactions per second.
Solana on sustainable energy consumption
The report outlined Solana Foundation’s collaborative efforts with Robert Murphy, an energy and climate advisor, to help the foundation devise “environmental impact of transactions performed on Solana global state machine.”
ItstaIt stated a single transaction conducted on the network utilizes 0.00051 kWh or 1,836 joules of energy. According to Google, average power consumption while conducting a Google search takes about 1,080 joules of energy.
Solana, being less decentralized than Bitcoin, uses 1,196 validator nodes that can process 20 million transactions in a year. The network has also issued fresh statistics outlining their average energy consumption per year to be 3,186,000 kWh.
The report also states that the network might also implement a new program before the end of this year that will enable Solana to become carbon neutral and facilitate eco-friendly transactional output.
As an efficient proof-of-stake network, Solana is far less likely to consume energy as compared to networks that employ proof of mining mechanisms to process transactions.
According to Statista, a single Bitcoin transaction consumes approximately 4,222,800,000 joules, which may induce an energy crisis later if energy emissions are left unregulated.
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Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.