No matter your level of expertise in blockchain or Web3, carbon neutral and net-zero operations are a must in today’s world.
As the industry leader in sustainable innovation, Algorand is proud to be the greenest high-performance blockchain. In fact, it’s the world’s first open-source blockchain network that is carbon negative.
✏️ Thanks to our friends at Algorand for sponsoring this blog post!
Why blockchain sustainability matters
As blockchain technology becomes more mainstream, eco-friendly development is essential to mitigate the impacts of blockchains on the climate.
Those familiar with blockchains are aware of the sustainability issues and know that energy consumption is one of its underlying problems. Hundreds of megawatts of energy are used and needed by the high-speed computing distributed consensus systems.
Because blockchain is still in its infancy, the technology is evolving to enable environmental sustainability at a large scale, considering its negative environmental impacts.
By developing an environmentally friendly consensus protocol (Pure Proof-of-Stake), Silvio Micali founded Algorand to create an open-source network for a borderless, digital economy. The blockchain hosts decentralized applications (DApps) and a wide range of digital assets (like NFTs).
Compared to most blockchain networks, Algorand consumes significantly less energy. As a high-performance, low-energy tech, a transaction on Algorand uses less than 1 milligram of CO2; that’s way less than one Google search! On the other hand, Bitcoin transactions emit 338 tons of CO2 and require more than 2,000 kilowatts of electricity (about 73 days’ worth of electricity).
Algorand offers an environmentally friendly solution so anyone can build on Algorand’s high-performance blockchain without feeling guilty about their carbon footprint or sacrificing performance.
Join the Race Against Climate Change
The Algorand Foundation and Envision Racing have partnered to promote sustainability and innovation by celebrating the greenest racing team using the greenest blockchain technology.
Algorand Foundation and Envision Racing created eight limited-edition NFT helmets for Formula E fans to mint. Each NFT helmet represents one of the eight locations hosting an ABB FIA Formula E race. All NFT sales go towards the Race Against Climate Change program, an initiative dedicated to planting trees in Madagascar to offset carbon emissions.
Algorand’s carbon-negative network ensures the security of every purchase, trade, or stake.
“With the collection, we wanted to create a coveted collectible for fans, with the helmet acting as a canvas to tell the story of the partnership between Algorand Foundation and Envision Racing. A story of a green and sustainable future,” explains Matty Schwartz, Creative Director at Funday. Each of the eight NFT designs references iconic visuals from their respective regions with graphics depicting local foliage to signify the desire to create a healthier planet.
The NFTs can be minted in the week leading up to each race; on the race day itself, the NFT helmet is revealed, offering the chance to win unique special editions. One lucky holder will be able to reveal a Gold NFT that entitles them to a 1-of-1 physical racing helmet. Nine Silver NFTs can be revealed and claimed as Infinite Object digital frames featuring their NFT.
To find out more about the Envision NFT series, click here.
Help shape the future of sustainability
Algorand participates in various initiatives to maintain its carbon-negative footprint, including its partnership with ClimateTrade. By partnering with various global sustainable initiatives, Algorand is able to offset its carbon footprint more effectively than any other blockchain.
In this digital economy, anyone can build, trade, and stake while maintaining environmental responsibility as part of Algorand’s borderless, carbon-negative blockchain.
Want to help shape the future of sustainability? Visit Algorand’s green blockchain to learn more. ■