Avalanche's annual energy consumption and carbon emissions were orders of magnitude lower than Ethereum and Bitcoin.
The research firm, which tracks environmental impact of cryptocurrencies, discovered that Avalanche sucked 469,802.39-kilowatt hour of electricity annually as of 1 June 2023.The report also found that Avalanche’s annual energy consumption was equal to the annual consumption of 44 average U.S. households.
Additionally, with emissions of just 178.3 tCO2e per annum, Avalanche was one of the least eco-polluting PoS networks. Indeed, its carbon footprint was a minuscule fraction of that of Ethereum andThe study further highlighted that Avalanche’s electricity consumption dipped by 4% from last year despite the increases in Subnet usage.
Over the years, blockchains’ increased power consumption and carbon emissions have become a major sticking point between skeptics and endorsers of the technology. The bulk of the criticism was directed at PoW networks, which involve deployment of energy-guzzling machines. Fearing a blemish on their image and future growth opportunities, many solutions shifted to the PoS approach.
Since then, different stakeholders like investors, users, and regulators have been actively tracking climate impact of blockchains. In this backdrop, Avalanche’s impressive green indicators boded well for future investments and adoption.While Avalanche earned plaudits for its green credentials, native token AVAX was insulated from the achievement. The coin lost 2.55% of its value in the last 24 hours, trading atwere in operation as of this writing, with 1,464 validators.
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