A Clean Alternative
Last updated
Last updated
Smudge cares deeply about the environment. This was the most important reason he and the core team decided to use a non Proof-of-Work (PoW) blockchain like Binance Smart Chain (BSC). Unlike Bitcoin and Ethereum, BSC uses a different consensus mechanism to validate transactions called Proof-of-Stake (PoS). PoS requires operators to stake tokens in order to become validators, avoiding the use of any energy heavy equipment. This GREATLY REDUCES the energy consumption for each transaction.
Against Bitcoin and the Ethereum network BSC performs very well. It is estimated the cost to mint one NFT on Ethereum is 332kWh versus 200mWh on BSC (a factor of about 1.5 million)! Against Bitcoin, the University of Cambridge estimates Bitcoin's current annual energy consumption at 130TWh versus 60MWh for BSC (a factor of over 2 million)! Not only does BSC outperform Bitcoin and Ethereum on energy-cost-per-transaction BSC, through Binance Charity, has created an initiative called Tree Millions Alliance. The mission of Tree Millions Alliance is to plant 10,000,000 trees worldwide to offset BSC's already small carbon footprint.
Links:
