In partnership with Offsetra, Elrond Network is positively contributing to the environment by offsetting 25% more CO2 than the platform’s existing carbon footprint.
Effort Delivers A Vision For Greener Blockchain Ecosystems
Amidst rising concerns about the environmental impact of blockchain and cryptocurrency, more and more companies are focusing on lowering their greenhouse emissions. Contributing to the cause, Elrond Network, the high-throughput public blockchain infrastructure, has announced that it is now carbon-negative, effectively offsetting more CO2 than it consumes.
Delivering on its commitment to making a positive contribution to the environment, Elrond has partnered with Offsetra, an organization focused on reducing carbon emissions through carbon credits. The Offsetra team sources all of the credits from verified projects listed on the APX carbon registry to curate social-driven and high-impact sustainability projects.
Beniamin Mincu, Elrond’s co-founder and CEO, said:
"By offsetting more CO2 that our blockchain is responsible for, we can stay ahead of ecosystem growth and make Elrond into a fertile ground for this generation of innovators to seed the foundations of a digital network of trust for the generations to come."
He adds:
"Humanity’s ability to progress beyond what we thought possible not so long ago can continue only if we are conscious about our impact on the environment and the next generations. Climate change is perhaps our biggest challenge, one that can be tackled if we all act immediately."
Offsetra conducted an in-depth analysis of Elrond’s carbon footprint by reviewing the overall energy consumption of the platform’s 5,000+ servers in 30 countries across 6 continents. Per the results, Elrond produced 6 million kilograms of CO2 and offset 7.4 million kg CO2, achieving its ‘carbon-negative’ status. By netting a 25% positive impact on the ecosystem, Elrond Network is at the front of industry efforts towards a carbon-neutral and environmentally-friendly future for blockchain.
More Efficiency & Speed to Power dApps & Enterprises
Even though blockchain technology has positioned itself as a potent solution to complex economic problems, it still has a long way to go in terms of efficiency. The most popular blockchains are designed to handle only a portion of the Internet’s transactional needs while consuming more energy than small to medium-sized countries.
To address this hurdle, Elrond provides a highly scalable, fast, interoperable and secure blockchain platform for dApps, enterprise use cases, and the new Internet economy. Leveraging the Adaptive State Sharding and the Secure Proof-of-Stake (SPoS) consensus mechanism, the platform serves as a user-friendly gateway to the digital economy.
By offering a maximum capacity of 15,000 TPS (transactions per second), Elrond has emerged as a worthy competitor as Ethereum, delivering a 1,000-fold improvement in speed, scalability, cost and user experience. The technology is designed to accelerate the mass adoption of blockchain technology offerings by enterprises, dApp developers and the general public.