A report from Solana Labs shows that a transaction on the Solana blockchain takes even less energy than 2 mere Google searches.
Solana Vows to Reduce Environmental Impact Further
Solana Labs released the ‘Solana Energy Usage Report – November 2021’ on Nov. 25 as revealed by Austin Federa, the head of communications at Solana Labs, via a Twitter post.
The report revealed that a single transaction on the Solana network uses 1,837 Joules while a single Google search uses 1,080 Joules of energy. This essentially means that a financial transaction on the blockchain needs less energy than two mere Google searches. When compared to Ethereum, the most utilized blockchain network in the decentralized finance (DeFi) market, Solana utilizes only 1.4% of the 126,000 Joules it takes to execute on the Ethereum network.
“As a proof of stake network, the security of the network is not dependent on energy usage. On Solana, there is no need for energy-intensive mining, meaning the network is extremely environmentally efficient. And thanks to a number of key technical innovations, like proof of history and parallel processing, activities on Solana take much less energy than you might think,” explained the report by the Solana Foundation.
Earlier in May 2021, the Solana Foundation hired Robert Murphy, an energy and climate advisor, on a contract basis to assist with drafting the initial framework to measure the impact of the transactions performed on the Solana global state machine.
“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,” the report additionally revealed putting these numbers in perspective.
What is Solana Labs?
Solana Labs is the software organization that is behind the creation and maintenance of the Solana blockchain network. Since its launch in March 2020, the Solana ecosystem has grown extremely rapidly to become one of the fastest-growing blockchain networks in the crypto-verse.
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Source : solana.news