Blockchain networks Polkadot and Tezos have surpassed other Proof-of-Stake (PoS) blockchains when it comes to energy efficiency, according to a Messari report summarized by a well-known Polkadot-focussed analytics platform, Polkadot Insider
The Twitter handle Polkadot Insider revealed that Polkadot and Tezos consume a paltry 0.1Gwh (Gigawatt hours) each in terms of annual net consumption.
— Polkadot Insider (@PolkadotInsider) September 2, 2022
The world’s second-largest crypto, by market cap, Ethereum, is adopting the Proof-of-Stake (PoS) mechanism to verify transactions this September. One of the key reasons for the transition to PoS is its supposed energy efficiency. The findings of this new report show that even with Ethereum entering the PoS space, Polkadot is likely to continue to dominate the energy-efficiency game.
Polkadot is ranked 10 in terms of market cap. Also, it is one of the few cryptos to register almost 8.30% gains over the past seven days. Despite this, it has also shown depleting trading volumes (see chart below for details).
With Polkadot (DOT) continuing to emerge as one of the greenest PoS chains around, we might see far greater adoption.
Tezos, too, keeps building on its credibility in the PoS space. A 2021 report by CCRI, for instance, says that Tezos is one of the greenest Layer-1 blockchains. However, it lags behind Polkadot when it comes to overall network scalability.
Following Polkadot and Tezos in the list of “green” PoS cryptos are Algorand, Cardano, Avalanche, and Solana.