Avalanche blockchain most energy-efficient crypto network: Report
There are questions about the environmental impact of cryptocurrency like Ethereum and Bitcoin’s energy consumption. Bitcoin, the largest and oldest cryptocurrency in the world, is not energy-efficient.
Research has shown that Avalanche’s blockchain is one of the most efficient among the largest blockchain networks.
According to the Crypto Carbon Ratings Institute, Avalanche used 0.0005 percent less energy than the Bitcoin blockchain and 0.0028% more energy than the Ethereum blockchain.
One of the most talked about developments in the last years is cryptocurrencies. Although opinions remain divided about digital assets, the blockchain technology that underlies them has been able to be used in real-world situations.
The ‘Energy Efficiency and Carbon Footprint of Proof of-Stake Blockchain Protocols Report’ analysed six proof-ofstake networks: Avalanche, Algorand(ALGO), Cardano [ADA], Polkadot (“DOT”), Tezos (“XTZ”) and Solana “SOL” — and two proof of work networks, Bitcoin and Ethereum.
The Polkadot, Tezos and Algorand have lower overall energy consumptions than Avalanche. However, Avalanche’s network has a higher efficiency per unit of energy. The following blockchains were studied: Polkadot, 70.237 kWh, Tezos 94.120 kWh, Avalanche 489.311 kWh, Algorand 512.671 kWh, Algorand 512.671 kWh, Cardano 598.755 kWh, Solana 1,967.930 kWh, Ethereum 17,300,000,000 kWh, and finally Bitcoin, 89.780,000,000 kWh.
The Avalanche blockchain had the highest ‘total value locked’ per unit of electricity consumed. According to DeFiLlama data, Avalanche’s TVL/kWh is $18,454. This compares to $4,395/kWh on Solana and $943/kWh on Tezos. $161 on Algorand. $120/kWh on Cardano. $19.18/kWh for Polkadot.
No related posts.