Leading blockchain solutions company Elrond marked history by becoming the first carbon-negative company in Europe to offset more CO2 than its network accounts for.
<h2><strong>Elrond Becomes First Carbon-Negative Blockchain in Europe</strong></h2>
Blockchain company Elrond has <a href="https://www.accesswire.com/658527/Elrond-Becomes-the-First-Carbon-Negative-European-Blockchain-Leading-a-New-Wave-of-Sustainable-Innovation-in-Line-with-The-European-Climate-Policy" target="_blank" rel="nofollow noopener">partnered</a> with Offsetra, a top organization on sustainability to offset more carbon than the network is responsible for to stay ahead of the blockchain’s carbon footprint.

Deploying a new wave of highly scalable and energy-efficient blockchain innovations, Offsetra analyzed Elrond blockchain's carbon footprint by studying more than 5,000 servers spread over ten countries on six continents. It also analyzed the network linking them and the additional impact generated by product development and operations.

The results saw that Elrond is carbon-negative by finding that the net worth is of a 25% positive impact on the environment for the blockchain with an observed 6 million kg CO2 footprint was offset by retiring carbon units equivalent to 7.4M kg CO2.

Remarking on the current environmental issues concerning climate change, Elrond CEO <a href="https://www.cryptoknowmics.com/news/beniamin-mincu-says-us-shoppers-can-shop-on-e-comm-websites-using-egold/">Beniamin Mincu</a> said:
<blockquote><em>“Climate change is a serious challenge, but one we can decisively solve if we act immediately. By offsetting more CO2 that our blockchain is responsible for, we can stay ahead of ecosystem growth and make Elrond into a fertile ground for this generation of innovators to seed the foundations of a digital network of trust for the generations to come.”</em></blockquote>
<h2><strong>Blockchain's Impact on Climate Change</strong></h2>
Currently, Elrond blockchain has a capacity of 15,000 transactions per second, scalable beyond 100,000 TPS with up to 6 million times less energy required to process a transaction, resembling a thousand-fold improvement in execution speed and throughput.

The underlying technology behind blockchain posed a series of challenges to energy consumption where critics saw that during periods of high network congestion, some blockchain networks consume more electricity than a medium-sized country. While blockchain can solve some of the complexities of the world’s economic problems but it heavily overlooks the matter of energy consumption.

Elrond Becomes the First European Carbon Negative Blockchain Company

Elrond marks history by becoming the first carbon-negative company in Europe by offsetting more CO2 than its network accounts for.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Elrond Becomes the First European Carbon Negative Blockchain Company

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