Blockchain
VeChainThor Is One Of The Most Eco-friendly Public Blockchains Worldwide, CTI Verified
The world is at a climate crossroads. Blockchain, the game-changing technology in this era, should also take more collective action to hasten this movement. As the world’s leading public blockchain, VeChainThor pledges to cultivate a healthier planet by greener technology.
To build and maintain this successful practice, VeChain research team worked with Centre Testing International Group Co. Ltd. (hereinafter called CTI), the pioneer and leader in the TIC industry which provides one-stop solutions on testing, inspection, certification, calibration, audit, training & technical services, to measure the carbon footprint of VeChainThor public blockchain network.
The Results
According to the estimation model, the total carbon emissions per year generated by VeChainThor is about 4.58 metric tons, approximately 2.4% of the carbon emission generated for mining a single Bitcoin according to.
The electricity consumed by VeChainThor for the whole year is estimated to be 7581.31 kWh, roughly equaling the electricity used to process 4.3 Bitcoin or 51 Ethereum transactions. We have also found the resource that shows data of some PoS chains related to carbon footprint. The outcome was that each transaction on VeChainThor consumed approximately 0.000216 KWh, which was 0.04% of the amount estimated for Cardano as listed in.
Rigorous Methodology of Carbon Emission Estimation
CTI provides trusted authentication services, to combine scientific modeling and certified measuring to infer a reliable estimation of the carbon footprint of the VeChainThor public blockchain. (Read Full Report)
Energy costs per transaction on a decentralized network are a preliminary step in determining whether a network can achieve sustainability. VeChainThor uses Proof-of-Authority consensus, which does not require nodes participate in the consensus process to compete. The rights to produce new blocks are equally distributed to all the 101 consensus nodes, i.e., the Authority Masternodes (AMs). Here the key finding is that the AMs share the same amount of computational workload in the network according to the design of the blockchain.
To deliver a model for estimating the carbon emissions of the 101 AMs, it was found out that what we could do was to accurately measure the power usage of a single machine that solely hosted an AM in a controlled environment.
EGHG ≈ μPUE x ∑iαiEF x MCTI.
Here EGHG stands for the amount of greenhouse gas (GHG) emission, μPUE the average annual power usage effectiveness (PUE) for data centres worldwide, {αiEF}i, the regional emission factors (EFs) for electricity supply, and MCTI the actual power usage data of a single AM measured by CTI. The model recognizes that some blockchain nodes are hosted on clouds. Therefore, we use the average PUE data for data centres worldwide to estimate the amount of electricity consumption. The model also reflects the regional differences of carbon emissions for same amount of electricity consumption. It therefore includes different regional EFs when estimating the overall GHG emission.
Green Entrepreneurship Powered by VeChainThor
A business’s digital carbon footprint is the complete expression of its operation. As the world’s largest corporations are on board, it is also essential to raise awareness of how underlying digital technologies have discrete yet vital roles to play in mitigating emissions (UN). Recent research estimates that the ICT sector, which includes blockchain, will be responsible for 1.97% of global emissions by 2030. For entrepreneurs and businesses looking to build on blockchain technology, they are looking not only at energy consumption but examining the long-term sustainability of this critical technology.
VeChain has vigorously set out in a digitally saturated atmosphere to mitigate emissions of VeChainThor and scale necessary to meet our goal to be the greenest public blockchain. With the upcoming PoA 2.0 upgrade, VeChain intends to empower a more secured and efficient layer 1 public blockchain platform.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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