Avalanche emerges as an eco-friendly network, new report finds
- Avalanche used up 469,802.39-kilowatt hour (kWh) of electricity on an annual basis.
- Avalanche was one of the least eco-polluting PoS networks.
Read Avalanche’s [AVAX] Price Prediction 2023-24
Avalanche goes high on green ratings
The research firm, which tracks environmental impact of cryptocurrencies, discovered that Avalanche sucked 469,802.39-kilowatt hour (kWh) 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 and Solana [SOL], and equivalent to the emissions from 29 roundtrip flights from Munich to San Francisco.
The 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.
How much are 1,10,100 AVAXs worth today?
A tour of Avalanche’s ecosystem
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 at $8.91 as of press time.
According to Avalanche explorer, around 77 Subnets were in operation as of this writing, with 1,464 validators. The total number of transactions processed on Subnets and the C-Chain saw intermittent bouts in the last two weeks, as shown below.