Ripple Labs new generation blockchain technology has the potential to revolutionize the cryptocurrency landscape with energy-efficient protocols supporting the company 2020 pledge To reach the carbon-zero net by 2030.
What is Ripple Labs’ new blockchain technology?
The company’s Ripplenet Infinity platform aims to improve cryptocurrency transactions with increased safety, faster treatment and greater energy efficiency, as a reported By Cointrust in February.
Ripple uses A digital asset called XRP, with transactions recorded via its Decentralized Ledger XRP. Traditional crypto exploitation – The process of solving calculation problems to add blockchain transactions – is not used on this platform (such as forbes and other points of sale have explain), which means that much less energy is consumed, by the company.
Ripple has praised His big XRP book as “the first big world blockchain to be carbon neutralA milestone reached in October 2020. “The cooling could not find an independent verification of this assertion, but being neutral in carbon means a system deletes or attenuated So much carbon of the air he emits.
The company has previously claimed Its federated consensus protocol helps reduce energy consumption compared to competing platforms. Bagpipe reported that Ripplenet Infinity can effectively manage up to 100,000 transactions per second.
Why is it so important?
While cryptocurrencies have revolutionized digital transactions, platforms like Bitcoin have become A drain on electrical resources. This system uses a proof of work The protocol, which requires mining operations with high energy intensity to validate transactions, as Investopedia noted it.
These cryptocurrency extraction configurations, which can sometimes be used illegally, have at least in certain places put a tension on the electricity grid. In addition, there are significant cooling requests for data centers, which add to the consumption of resources of these operations.
The US Energy Information Administration A estimated The fact that the annual electricity consumption associated with the internal extraction operations of cryptocurrencies now represents up to 2.3% of total electricity consumption in the country.
“We intend to continue to analyze and write on the energy implications of cryptocurrency extraction activities in the United States,” said former administrator of EIA Joe Decarolis in a press release in 2024.
“We will focus specifically on how the energy demand for the exploitation of cryptocurrencies is evolving, identifies the geographic areas of strong growth and quantifying the sources of electricity used to meet the demand for mining of cryptocurrencies.”
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That said, agency efforts to collect information was later blocked And interrupted.
How Ripplenet Infinity could make a difference
In 2022, President Joe Biden signed a executive decree To support intelligent advances and responsible development of digital asset systems, taking into account the reduction of negative climatic impacts, and Ripplenet Infinity seems to be aligned with these objectives.
“A tesla and a hummer can both make you go from point to to point B, but the carbon emissions of each are very different. The same thought must be applied to blockchains and how they are used today”, Ripple Labs explain on his broader efforts in 2022.
In terms of energy consumption, Finch times Cited a 2021 Rating Rating’s Ripple’s XRP report as the least with high energy intensity of the seven main pieces of cryptography it has evaluated, consuming only 0.00112% of the energy used for Bitcoin transactions.
“As the first big Blockchain company to commit to being carbon net-zero by 2030, Ripple continues to create and defend a network of partners committed with a commitment to similar views towards sustainability”, the company wrote in 2022.
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