cryptoglobe.com
The Crypto Carbon Ratings Institute (CCRI) has released a new research report showing that Cardano ($ADA) consumes the least amount of electricity per node, despite using the most electricity per transaction.
According to the a report by CCRI released on Wednesday (February 2), a research startup focused on the environmental impact of cryptoassets, Proof-of-Stake (PoS) network Cardano consumes the largest amount of electricity per transaction at 52 watt-hours (Wh). However, the organization found that the network consumes the least amount of electricity per node of all proof-of-stake projects analyzed in the study.
The report explained its finding,
This metric depends on the amount of transactions taking place on the respective blockchain, also the overall electricity consumption per transaction further depends on the number of nodes connected to the respective network. Generally, these numbers are expected to go down with an increase in the transaction rate, regardless which blockchain is in use.
The CCRI report found that Solana ($SOL) consumed the least amount of electricity per transaction of PoS networks at 0.166 Wh. Of the six PoS networks analyzed in the study, only Solana ranked lower in energy-per-transaction than payments behemoth Visa with 1.49 Wh. Algorand ranked third behind Visa at 2.7 Wh, followed by Avalanche, Polkadot, Tezos and Cardano.
CCRI told Cointelegraph that the blockchain networks require electricity in order to power their hardware and run the software, even in the absence of transactions. Therefore all blockchains studied resulted in lower energy costs per transaction as the number of transactions increased.
Despite ranking lowest in energy consumed per transaction, the study found that Solana was responsible for the largest carbon footprint, at 934 tonnes of CO2 per year, compared to 284 tonnes for Cardano.
Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Image Credit
Featured Image via Unsplash