Tron beats top cryptocurrencies Bitcoin and Ethereum in the energy saving department, new research shows.
Web3 has gained a very poor reputation in the field of environmental protection and sustainable development.
This is mostly attributable to blockchains like Ethereum and Bitcoin, whose protocols demand enormous amounts of energy.
Recent study has revealed, however, that Tron is one of the greenest networks available.
The Crypto Carbon Ratings Institute released a research on Wednesday stating that the Tron network’s low power requirements make it one of the most eco-friendly blockchains.
Tron: The Eco-Friendly Blockchain
The research team, which focuses on carbon emissions reduction for crypto initiatives, compared the electricity consumption of a number of networks employing different consensus techniques.
According to the numbers, TRON used only 162,868 kWh of power last year, which is 99.9 percent less than Bitcoin and Ethereum.
Energy efficiency is a known strong suit of the Proof of Stake consensus family, which has long been considered the superior consensus algorithm.
Compared to the conventional Proof of Work consensus techniques, this is an alternative. POS requires validators to stake funds in order to propose or vote for new blocks.
The CCRI is responsible for auditing network energy efficiency and carbon footprints. The institute has rigorously compared the energy efficiency of the top POS networks to that of their POW counterparts.
Tron More Energy-Efficient Than BTC And ETH
The report examined the electricity consumption and carbon footprint of numerous proof-of-stake networks, including Algorand, Avalanche, Cardano, Polkadot, Tezos, Solana, and TRON, and compared them to Bitcoin and Ethereum, the main proof-of-work networks.
POW blockchains, such as Bitcoin and Ethereum, consume more than 83 million kilowatt-hours (kWh) and 22 million kWh, respectively. After “The Merge,” Ethereum will transition to a POS consensus method in mid-September.
Tron reported an annual energy use of 162,868 kWh for over 2.31 billion transactions, which is 99.9% less than Bitcoin and Ethereum.
According to CCRI, this made Tron’s energy consumption “equivalent to the energy consumption of 15 average U.S. homes.”
Impact On The Environment
“The growing quantity of energy consumption of modern-day blockchains is not sustainable in the long term for either consumers or economies at scale,” says TRON’s founder, Justin Sun.
The most effective networks, he added, will be those that “encourage decentralization while minimizing their environmental impact.”
One of the biggest issues with cryptocurrencies is the amount of energy they use. For instance, Elon Musk reversed his 2021 decision to accept Bitcoin as payment for Tesla vehicles, citing “environmental concerns.”
The billionaire also stated that Tesla would resume accepting Bitcoin if and only if the cryptocurrency behemoth took steps to improve its impact on the environment.
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Source: https://bitcoinist.com/tron-uses-100-less-energy-than-btc-eth/