Solana, one of the world’s newest blockchains, burst onto the scene in 2019, much later than all other cryptocurrencies.
Because of its unique consensus mechanism, transaction speeds, and energy efficiency, many experts saw it as a potential “Ethereum Killer.”
However, is it an eco-friendly blockchain?
- Is Solana Coin Eco-friendly?
- What Is Solana Used for?
- What is the Impact of Solana on the Environment?
- What are the Pros of Solana?
- What are the Cons of Solana?
- Is Solana a Good Eco-friendly Alternative to Bitcoin?
- Solana vs. Ethereum Environmental Impact
- Is Solana More Eco-friendly than BNB?
- Final Thoughts
Is Solana Coin Eco-friendly?
Solana Coin is pretty eco-friendly. Since Solana is a decentralized Proof-of-Stake cryptocurrency, it doesn’t depend on energy to validate transactions.
Instead of energy-intensive mining that harms the environment, the proof-of-stake model keeps the Solana network secure and environmentally efficient at the same time.
Solana is so energy-efficient that one Solana transaction uses just 0.00051 kWh or 1837 Joules. That’s second only to Google, with one search on their engine using just 1080 Joules. Isn’t it fascinating to realize that one Solana transaction is much greener than two Google searches?
Even with the current low energy consumption by the Solana network, the Solana Foundation is still working to make this network more carbon neutral.
Innovative features like proof-of-history and parallel processing on the Solana blockchain make it further energy-efficient and eco-friendly.
Also, the Solana Foundation pledged to keep Solana carbon neutral throughout 2022 and beyond while maintaining transparency on its energy usage.
Besides that, the Foundation participates in other programs that further reduce carbon emissions globally.
For example, they already fund the permanent destruction of HFC and CFC refrigerants over 10,000 times more destructive to the environment than CO2. That also creates meaningful employment for people and reduces overall greenhouse gas emissions.
Learn more about Solana Blockchain.
Another example is their partnership with Watershed, which helps other companies measure, reduce, remove and report their carbon status to help further combat climate change.
What Is Solana Used for?
Besides offering another cryptocurrency option for users to trade with in the market, Solana aims to solve two fundamental issues plaguing the crypto industry. Speed and scalability.
Solana uses Tower Byzantine Fault Tolerance to remove the need for nodes to communicate in real-time for transactions to occur.
Combined with “Gulf Stream” technology, Solana validates transactions much faster and more efficiently. That also allows over 50,000 transactions per second on the network, solving the speed problem.
To solve the scalability problem, Solana uses the Turbine Block Propagation Protocol.
This feature breaks down data into tiny fragments that are much easier to transmit across the network.
That way, Solana doesn’t need layer-two solutions to scale its usage. That also makes gas fees on the Solana network much lower.
Solana pulls off all these feats without compromising on security or decentralization.
Also read: Is Cardano Quantum-resistant?
What is the Impact of Solana on the Environment?
The Solana blockchain is practically carbon neutral. That means Solana has a positive impact on the environment.
Couple that with the projects the Solana Foundation currently funds to reduce carbon emissions further, and you have one of the world’s most impactful blockchain companies.
What are the Pros of Solana?
Using Solana to create dApps, create smart contracts, and transacts has several benefits.
Let’s look at them:
As discussed extensively above, Solana is arguably the most energy-efficient cryptocurrency.
The cutting-edge Proof-of-Stake and Proof-of-history models, as well as other off-chain contributions by the Solana Foundation, make Solana better for the environment.
Solana can process over 50,000 Transactions Per Second (TPS), needing just 400ms to mine a block.
Both of these are results of Tower Byzantine Fault Tolerance, Gulf stream technology, and Turbine Block Propagation Protocol.
Solana achieves all these massive feats and still keeps gas fees much lower than industry averages. That makes transactions on the Solana network incredibly cheap.
No Mempool Problem
A mempool is where processed transactions wait before merging into the blockchain.
Mempools are pretty standard in other blockchains, but not Solana. Once processed, a transaction is almost instantly added to the blockchain, eliminating mempools.
Solana uses Rust, a programming language that’s easy to learn and use. You can build games, applications, and even other blockchains on Solana’s ecosystem.
What are the Cons of Solana?
Many Implementations are Still in Beta
Some key features on the Solana network are still in Beta testing and won’t be available for a while.
There’s no way to tell how successful projects launched on the network will be until these features are implemented.
Unless more projects come on board the Solana ecosystem, it won’t realize its full potential. However, as more people become aware of the advantages of using Solana, more adopters emerge.
One of the biggest problems facing Solana is poor decentralization. The Solana network has just about 1200 validators, compared to other blockchains with over 100,000 validators. Many users have questions about the network’s security because of this.
Solana has a lousy reputation for facing network outages. This has cost users millions of dollars in losses and caused them to lose adopters.
Is Solana a Good Eco-friendly Alternative to Bitcoin?
Yes, It is. Solana uses up to 99.9% less energy than Bitcoin per transaction. It also uses a Proof-of-stake mining model that’s much less hardware-intensive than Bitcoin.
Solana vs. Ethereum Environmental Impact
Compared to Solana, Ethereum has a massive environmental impact. While a single Solana transaction uses just about 1900 Joules, one Ethereum transaction uses 693 Million joules.
Although Ethereum 2.0 is set to take that down to just 126 000 Joules, that’s still a far cry from the energy savings Solana makes.
Also read: Terra Luna Vs Solana (Compared)
Is Solana More Eco-friendly than BNB?
Solana and BNB are as eco-friendly as each other. BNB uses a proof-of-authority and Delegated Proof-of-stake model that reduces its validator nodes to just 21.
That means less infrastructure and less power consumption. That also means a negligible impact on the environment.
Also read: Is BNB Coin Eco Friendly?
Solana is so energy-efficient that it rivals Google at being carbon neutral. This shows how revolutionary Solana’s approach to cryptocurrency is.
However, it has challenges to overcome before becoming an official challenger to Ethereum and other similar networks.