Global Carbon Holding
Global Carbon Holding uses blockchain technology to tokenize Carbon Credit assets in Asia and support a global, transparent marketplace to purchase certified carbon offsets, with the highest levels of quality and provenance.
Algorand’s Commitment to Sustainable Blockchain
Algorand was built as a green blockchain with an environmental impact focus from the very beginning. Our founder Silvio Micali explained as far back as 2018 his focus on sustainability for our planet with next generation technology. With his unique consensus mechanism, Algorand is far more energy efficient than other blockchains, and is going further by offsetting its small carbon footprint in partnership with ClimateTrade.
Algorand Pledges to be the Greenest Blockchain with a Carbon-Negative Network Now and in the Future
Already highly energy-efficient network partners with ClimateTrade to set the industry standard for blockchain sustainability
April 22, 2021
How Algorand is Carbon Neutral
Designed as a highly energy efficient network from the start
Partnering with organizations focused on sustainable use cases
Offsetting any small emission gaps
Designed for Low Environmental Impact
– Silvio Micali, Founder
Algorand developed a public blockchain that runs on a version of proof-of-stake, which drives electricity consumption to almost zero…on a fundamental level,” Silvio Micali said, “I care about the planet.”
Calculating Algorand’s Miniscule Carbon Footprint
Since the estimation of the carbon footprint strictly depends on power generation scenarios and the degree of renewables sources, I would rather address another critical metrics: the specific finalized transaction energy, that is the amount of energy spent by the whole blockchain infrastructure to finalize a single transaction and append it to the common distributed ledger.
The Importance of Low Transaction Costs & Lower Carbon Emissions to Mint NFTs
There is no need for mining on Algorand needed like on Ethereum’s PoW, which, besides everything else, allows Algorand to achieve carbon neutrality, and this is really important for NFTs since they are poised to go mainstream and transform entire industries.
Algorand’s Leadership in Blockchain Sustainability
Algorand delivers sustainable blockchain technology that can be used for years to come without affecting the environment in a negative way. It’s not only about the infrastructure – Algorand itself is an environmentally friendly ecosystem at every level, and this is reflected in its culture and use cases as well.
Clean energy and addressing climate change are priorities for the United Nations, global organizations and governments alike. Algorand has a very low carbon footprint to begin with, and we are inspired by the leadership role the organization is taking to ensure the next generation of blockchain adoption is environmentally friendly.