Avalanche blockchain most energy-efficient crypto network: Report

cnbctv18.com:

The energy consumption of cryptocurrencies like Bitcoin and Ethereum has raised questions over their impact on the environment. But while Bitcoin is the world's oldest and biggest cryptocurrency, others are much more energy-efficient.New research shows that the Avalanche blockchain is the most energy-efficient among most of the biggest blockchain networks around.Also read: Why bitcoin hashrate spiked to new highsThe report from the Crypto Carbon Ratings Institute highlighted that the Avalanche blockchain used just 0.0005 percent of the energy used by the Bitcoin blockchain, and 0.0028 percent of the energy used by the Ethereum blockchain.Also read: Top ethereum killers: All you need to knowCryptocurrencies are one of the most talked-about developments of the past years.

While opinions about the digital assets themselves remain starkly divided, the underlying blockchain technology behind them has already started to have considerable real-world use.The ‘Energy Efficiency and Carbon Footprint of Proof-of-Stake Blockchain Protocols Report’ analysed the energy efficiency and total energy consumption of six proof-of-stake networks -- Avalanche (AVAX), Algorand (ALGO), Cardano (ADA), Polkadot (DOT), Tezos (XTZ), and Solana (SOL) -- and two proof-of-work networks, Bitcoin and Ethereum.Also read: Not just RBI's Rabi Sankar, these bigwigs also dislike cryptoWhile Polkadot and Tezos blockchains have lower overall energy consumption than the Avalanche blockchain, Avalanche’s network is more efficient per unit of energy used. The total energy consumption of the studied blockchains are: Polkadot, 70,237 kWh; Tezos, 94,120 kWh; Avalanche, 489,311 kWh; Algorand, 512,671 kWh; Cardano, 598,755 kWh; Solana, 1,967,930 kWh; Ethereum,