According to the study, a transaction on the Solana blockchain requires 24 times less energy than charging your phone.
According to research released Nov. 25 by the Solana Foundation, a transaction on the Solana network uses less energy than two Google searches and 24 times less energy than charging your phone.
According to the paper, a single transaction on the network consumes 0.00051 kWh (1,836 Joules) of energy. A typical Google search consumes 0.0003 kWh (1,080 Joules) of energy, according to Google.
Surprisingly, the paper estimates that the whole Solana network consumes 3,186,000 kWh per year, which is comparable to the electrical consumption of 986 American families.
The research was commissioned by the Solana Foundation in May in order to “frame the environmental effect” of transactions on the Solana network.
With 1,196 validator nodes processing an estimated 20 million transactions per year, the Solana network is less decentralized than Bitcoin or Ethereum. According to the study, the Foundation will lower the network’s energy use even further by adopting a program to become carbon-neutral and offset the ecosystem’s environmental imprint by the end of this year. There was no more information on whether the network intends to buy carbon offsets or cut its emissions.
Because Solana (SOL) uses a Proof of Stake consensus process, it consumes significantly less energy than networks that use the Proof of Work mining approaches, such as Bitcoin (BTC) and Ethereum (ETH) (ETH). A single BTC transaction is estimated to utilize an average of 4,222,800,000 joules, according to Statista.
Following the move to Proof of Taking, Eth2 is predicted to utilize 99 percent less energy than the existing mainnet.
Ripple (XRP), which utilizes 28,440 Joules per transaction, is another low-energy option. According to Ripple, the amount of energy utilized could have powered a light bulb for 79,000 hours for every million transactions on its network.
The energy required by BTC could run a light bulb for 4.51 billion hours for the same amount of transactions. Ripple believes that XRP is 57,000 times more efficient than BTC as a result of this.