- Blockchain technology from VeChain enables sustainability-focused targets.
- Each transaction on VeChainThor used around 0.000216KWh.
Bitcoin’s stunning environmental effect has gotten a lot of attention recently. Although attempts are being made to lessen the cryptocurrency’s carbon footprint, some investors opt to leave the cryptocurrency in favor of greener alternatives.
Significant technological and architectural differences amongst blockchains potentially yield orders of magnitude, offering more operational efficiency than the Proof-of-Work (PoW) algorithms used by Bitcoin and Ethereum.
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Blockchain technology from VeChain enables sustainability-focused targets, allowing for quick implementation of solutions, transparency, and accountability where there was previously none.
PoA Consensus Method
Companies may create their smart contract solutions on the VeChainThor blockchain, dedicated to promoting a healthy world via green technology. VeChain’s PoA consensus method, which is very successful and reliable, addresses the most pressing issue with blockchain energy use: reaching consensus and updating the public ledger while using as little power as possible.
CTI, a pioneer and leader in the TIC industry that provides one-stop solutions on testing, inspection, certification, calibration, auditing, training & technical services, collaborated with VeChain to measure the carbon footprint of the VeChainThor public blockchain network to ensure its sustainability.
— VeChain Community Hub (@VechainThorCom) January 13, 2022
An estimated carbon footprint of 4.58 metric tonnes per year is created by VeChainThor, which is around 2.4 percent of the carbon footprint associated with mining a single Bitcoin. It is anticipated that VeChainThor consumes 7581.31 kWh of total power every year, which is about the amount of electricity needed to process 4.3 Bitcoin or 51 Ethereum transactions. VeChainThor only utilised 0.000216KWh per transaction or around 0.04 percent of the estimated Cardano energy use.
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A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.