It has been recorded that any transaction on the network of Solana would take less energy than a couple of Google searches. The network would also consume less energy- around 24 times less- than charging one’s phone, which was reported by the altcoin’s subsidiary company. The report further claims that every transaction on the network would use around 0.00051 kilowatt-hours or around 1,836 Joules of energy. According to the search engine, every search uses around 0.0003 kWh of energy.
Solana Seems To Be More Eco-Friendly Than Bitcoin
What is even more surprising is the claim that the entire network of Solana consumes a nominal sum of 3,186,000 kWh per year, which is similar to the average usage of electricity in around 986 American households. Back in May, the Foundation had called upon Robert Murphy to jot down the report in order to finally frame the environmental impact of the transactions that took place on this network. Murphy is the famous founder of Othersphere and is quite an energy specialist at the prestigious World Bank.
The network of Solana is also less decentralized than the networks of Bitcoin or Ethereum, with just 1,196 validator nodes that have the capacity to process an estimated 20 million transactions every single year.
The report claims that the foundation would look towards reducing the energy usage of the network by bringing forth a program by the end of the year that would help turn the entire network carbon-neutral, whilst offsetting the environmental footprint of the ecosystem.
Since Solana is heavily dependent on a proof-of-stake consensus mechanism, the network is seemingly less energy-intensive than any that relies on the proof-of-work mining method- which is usually used in Ethereum and Bitcoin. Statista has estimated that every single transaction of Bitcoin would consume close to 4,222,800,000 joules.