- VeChain’s carbon footprint significantly lower than Bitcoin and Ethereum.
- VeChainStats launches carbon calculator to track CO2 emissions for transactions and smart contracts.
VeChain’s Smaller Carbon Footprint
In a recent tweet from Sarah Nabaa, General Manager at VeChain, the carbon footprints of various cryptocurrencies were discussed. According to her, Bitcoin accounted for 86.3 million tonnes of CO2 in 2022 alone, while Ethereum dropped from 21.95 million tonnes to 8,824 tonnes of CO2. In contrast, VeChain’s carbon emissions stood at only 4,459.41 kg of CO2, showcasing its more sustainable approach to blockchain technology.
Would using renewable energy to mine BTC help reduce CO2 output for BTC mining… pic.twitter.com/7TbfULaExz
— Sarah Ⓥ (@Sarah_Nabaa) April 24, 2023
Carbon Calculator for VeChain Transactions and Smart Contracts
VeChainStats recently launched a carbon calculator in collaboration with certification experts DNV. This tool allows users to see the carbon impact of every transaction and smart contract interaction on the VeChain platform. This initiative highlights VeChain’s commitment to sustainability in the crypto space.
Renewable Energy and the Future of Bitcoin Mining
Nabaa’s tweet also raised questions about the role of renewable energy in Bitcoin mining. She pondered whether using renewable energy sources for mining would significantly reduce CO2 output and how Bitcoin would evolve as Web3 advances, with more people having a say in protocol governance.
She also questioned if there would be a fork to differentiate “clean” Bitcoin, mined using renewable energy, from existing Bitcoin. The crypto community’s interest in sustainability has grown, and many are looking for ways to reduce the environmental impact of blockchain technologies.
VeChain: A Sustainable Blockchain Solution
As the world becomes more aware of the environmental impact of various industries, including blockchain technology, companies like VeChain are taking a proactive approach to reduce their carbon footprint. With its significantly lower CO2 emissions compared to Bitcoin and Ethereum, VeChain demonstrates that sustainable blockchain solutions are possible and desirable.
By providing transparency with the carbon calculator and working with certification experts, VeChain is not only addressing the concerns around sustainability but also setting an example for other blockchain projects to follow. As the crypto industry continues to grow and evolve, it is essential to prioritize sustainability to ensure a greener future for everyone.