It’s been a pretty big year for Solana.
A 10570% increase in price for year to date, a thriving NFT ecosystem and a current top 5 spot in the Crypto charts. Not bad, right?
But, it gets even better for the Sol crew. In the latest SOL energy use report for November (yes, this is a thing!), the team shared how a single Sol transaction compares to other popular activities.
Pretty impressive, I think, and especially when we hear so much negative news about crypto’s green energy use with the big players in Ethereum and Bitcoin. Plus, we can see just how intensive energy use for both of these is in the chart too.
As the crypto world continues to scale and captivate a larger worldwide audience, the focus of energy use will no doubt be magnified. Proof of stake (PoS) will be a preferred less energy intensive solution to it’s often battered sibling proof of work (PoW).
As we demand more for leading corporations to look to green energy sources, we should hold this bar just as high in the crypto space.
Yes, we all hope that crypto continues to disrupt the financial world and build the future of finance where more of us than ever have the capability to create wealth, but we don't want to destroy the planet while doing it.
It’s cool to see the SOL team pushing the agenda on this. Today a transaction takes 24 times less energy than charging a phone, and the team have committed to take this even further as they continue to invest in ways to minimise their ecosystems environmental impact.
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I’m not a financial advisor, a psychologist or any from of accredited professional. As such, this is not financial advice and I’m not qualified or licensed to provide anything like this. This content is a bunch of thoughts from a fellow human for educational purposes only — that is all.