Blockchain Technology have huge potential to revolutionize the internet and the current finance sector at same time provide power of money to the people. As we knows that anything good comes at a cost. Bitcoin which is a first generation Blockchain consumes 0.5% of all energy consumption worldwide it is almost 7 times Google’s energy consumption per year stated in a report.
If Blockchain technology generate more carbon footprint then in future people will not adopt it because current generation is more conscious about climate change. Recent development in Blockchain technology is satisfactory which more energy efficient specially Solana Blockchain which can handle 50,000 transaction per second and also energy efficient.
Solana is decentralized Blockchain which Works on Proof of Stake mechanism. It is one of the biggest competitor of Ethereum due to its scalability and lower transaction cost. As Ethereum is also moving towards Proof of stake from Proof of Work with Ethereum 2.0.
Solana still have long roadmap to beat the Ethereum because just being scalable and lower transaction cost is not enough system has to be robust Recent outage of Solana Blockchain of about 17 hours raised issue on it its efficiency. Solana Blockchain is known for its fast transaction at very affordable cost therefore adoption of Solana Blockchain is increasing day by day Recently Brave browser announced integration on Solana with Brave to provide affordable transaction fee to their user.
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In a recent blog published by Solana they revealed that their single transaction consume only 1939 Joules if we convert we get 0.4634321 Kilocalories and this is less than energy consumed in two Google Search. An average Ethereum 2.0 Transaction consume 126000 Joules if we divide it 126000/1939=64.98 mean it is approximately 65 time more energy efficient than Ethereum 2.0 and these value would be much more higher if compared with a energy consumed with a single Bitcoin transaction.
It is good to see that Solana partners with Watershaed a company which helping big organization to reduce carbon footprint. Big organization like Airbnb, Figma, Stripe, Vimeo etc are using Watershed’s software to measure and reduce their carbon footprint. It is good to see that Solana Foundation pledged to make Solana network carbon neutral till 2022. The term Carbon neutral mean carbon emission by a company balanced by saving equivalent amount of carbon. In mathematic term
carbon emission-carbon saving=0 is carbon neutrality.
Conclusion-: Recent outage of Solana Blockchain of about 17 hours raised issue on it its efficiency. It also happened in past in September 14 2021 when Solana Blockchain went offline due to surge in transaction. as per my point of view just being energy efficient is not enough Solana has to be Robust because in future more and more developer will choose Solana over Ethereum to build Smart Contract. How would you rate other Blockchain over Solana on energy efficiency let me know in comment section.
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