Consulting firm PwC highlighted Tezos as one of the most efficient blockchain networks in the crypto industry, since its migration to Proof of Stake.
Tezos has become a network blockchain highly efficient since its migration to the consensus protocol Proof-of-Stake (POS). The Tezos Foundation hired the consulting firm PricewaterhouseCoopers (PwC) to analyze the carbon footprint produced by its nodes, as well as the sustainability and energy efficiency of the chain, which has grown in adoption in recent months.
The results of the report, published by Tezos on its official website, highlights that the operations that take place within the participation blockchain network produced a footprint equivalent to what 17 citizens in the world produce. To date, Tezos has processed close to 50 million transactions, making it one of the most energy-efficient networks in the entire industry today, the Foundation noted.
The publication of these results underscores the importance of the work blockchain developers are doing to minimize the environmental impact of their operations. Recently, the Solana Foundation also published a report on its energy consumption; pointing out that this was much lower than what is demanded by the networks of cryptocurrencies What Bitcoin and ethereumin even more efficient than using a computer, an LED bulb, charging an iPhone or doing Google searches.
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Tezos, sustainability and efficiency
The new Tezos, which left behind the consensus model Proof of Work (pow), used by Bitcoin and Ethereum, consumes approximately 2.4E-4 g CO 2 eq. per unit of gas and 2.5 g CO 2 eq. per transaction. On the other hand, the blockchain has managed to reduce its estimated electricity consumption per transaction by 30% compared to 2020 and has increased its energy efficiency by 70%. Data published by the Tezos Foundation indicates that the network is consuming an estimated 0.001 TWh (terawatt hours) of energy per year. Ethereum and Bitcoin consume on average about 26 TWh and 130 TWh per year. However, despite being far superior to Tezos, the consumption of these blockchain networks is still significantly lower than that of the traditional banking system.
Efficient and reliable operations
Tezos is prioritizing energy efficiency to ensure its sustainability over time. The developers of the blockchain network pointed out that Tezos is designed to be flexible and evolve, so it will adapt to new changes and needs, prioritizing innovation without compromising sustainability and meeting the current and future needs of its consumers and users.
The chain is preparing to offer a highly efficient digital ecosystem, where users can carry out different transactions and interactions in a secure and reliable manner. Its vision is to become a protocol that promotes social, political and economic innovation on a global scale, based on efficiency and sustainability.
A network for NFT
Recently, the developers of the blockchain game Ubisoft released their first NFT’s on the Tezos blockchain, highlighting its scalability and low energy consumption. For its part, Tezos explained that Ubisoft Quartz is the first major game developer to launch non-fungible tokens on its blockchain network.
Continue reading: The French bank will use Ethereum and Tezos to explore a digital interbank currency
