Tezos, a blockchain network focusing on privacy, has published a carbon footprint report from PricewaterhouseCoopers Advisory SAS, a French company that is part of the PwC network.

The PwC report reflects the dramatic improvement in Tezos’ energy efficiency, both in terms of reducing carbon dioxide emissions and in terms of reducing energy consumption.

The PwC report highlights the significant reduction in carbon emissions from the Tezos network despite increased network activity. According to the report, the Tezos blockchain accounted for 50 million transactions, while the entire network made up the energy footprint of 17 global citizens.

The energy efficiency of each online transaction has increased by 70%, while the estimated demand for electricity per transaction has decreased by 30% from 2020.

“As more brands and companies consider energy when making business decisions, energy-efficient blockchains like Tezos are well-equipped to meet their needs and enable efficient, secure and reliable operations,” said Reed Yager, Global Communications Director, Blockhouse Marketer. A company affiliated with Tezos.

The Tezos network has an estimated annual energy consumption of 0.001 terawatt-hours (TWh), which is negligible compared to Bitcoin (BTC) at 130 TWh and Ethereum (ETH) at 26 TWh. Tezos uses approximately 2.5 grams of CO2 equivalents per treatment

Related: French retail giant launches Tezos-powered stablecoin

Tezos has also made some progress in networking and new partnerships in the market for decentralized finance and non-financial tokens (NFT). It was chosen by Red Bull Racing, Honda and McLaren Racing as the starting platform for NFT. It was also honored with the Art Basel Miami Beach Award for best blockchain for its presentation of the ecosystem.

Proof-of-Stake (PoS) blockchain networks have made great strides toward achieving ESG’s goals, especially following the recent market R & D related to Bitcoin’s energy consumption.

Source: CoinTelegraph

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