A transaction on the Solana network uses less energy than two Google searches and 24 times less than charging the phone. according to a November 25th report by the Solana Foundation.
The report states that a single transaction on your network consumes 0.00051 kWh or 1.836 joules of energy.Â According to Google, an average search consumes 0.0003 kWh or 1.080 joules of energy.
And what is even more surprising, the report says that Solana’s entire power grid consumes approximately 3,186,000 kWh per year, which is the average power consumption of 986 US households.
In May, the Solana Foundation hired Robert Murphy to write the report to identify the “environmental impact” of transactions on the Solana network. Murphy is the founder of Othersphere and was previously an energy specialist for the World Bank.
The Solana network is less decentralized than Bitcoin or Ethereum, with 1,196 validation nodes processing around 20 million transactions per year. The report states that The foundation will further reduce the grid’s energy consumption by introducing a program this year to become carbon neutral and offset the ecological footprint of the ecosystem. No additional information was given on whether the network plans to buy carbon offsets or actually reduce its emissions.
Because Solana (SOL) is based on a proof-of-stake consensus mechanism, the network uses much less energy than those on the Proof-of-work mining method, Â as Bitcoin (BTC) and Ethereum (ETH). Statista estimates that a single BTC transaction consumes an average of 4,222,800,000 joules.
Remember that, Technically, networks do not consume a certain amount of energy for a single transaction. Your network power consumption can be the same whether you are processing a transaction or a million. However, it is often used as a rough comparison, although controversial.
Taking this into account, an Ethereum transaction consumes approximately 644,004,000 joules, according to the average number of transactions and the amount of energy required to operate the network. According to Statista, the energy consumption of an ETH transaction is comparable to “more than several thousand VISA card transactions”.
Nevertheless, After moving to Proof of Take, Eth2 is expected to use 99% less electricity than the current main grid.
Another low-consumption alternative is Ripple (XRP), which consumes 28,440 joules per transaction. Ripple says that for every million transactions on its network, the amount of energy consumed could have powered a lightbulb for 79,000 hours.
For the same number of transactions, the energy BTC consumes could power a lightbulb for 4.51 billion hours. For this reason, Ripple claims that XRP is 57,000 times more efficient than BTC.