Each Solana TX is claimed to use less energy than two Google searches, according to the report.
A transaction on the Solana network uses less energy than two Google searches and 24 times less energy than charging your phone, according to a report released Nov. 25 by the Solana Foundation.
The report states that a single transaction on the network consumes 0.00051 kWh (1,836 Joules) of energy. An average Google search consumes 0.0003 kWh (1,080 Joules) of energy, according to Google.
Surprisingly, the report claims that the entire Solana network consumes 3,186,000 kWh per year, which is equivalent to the electrical consumption of 986 American households.
Robert Murphy was contracted by the Solana Foundation in May to write the report in order to "frame the environmental impact" of transactions on the Solana network. Murphy is the founder of Othersphere and was formerly a World Bank Energy Specialist.
The Solana network is less decentralised than Bitcoin or Ethereum, with 1,196 validator nodes processing an estimated 20 million transactions per year. The report states, the Foundation will lower the network's energy use even more by adopting a programme to become carbon-neutral and offset the ecosystem's environmental footprint by the end of this year. There was no additional information was provided on whether the network plans to buy carbon offsets or actually cut its emissions.
As Solana (SOL) relies on a Proof of Stake consensus mechanism, it consumes significantly less energy than networks that use the Proof of Work mining approach, such as Bitcoin (BTC) and Ethereum (ETH) (ETH). A single BTC transaction is estimated to utilise an average of 4,222,800,000 joules, according to Statista.
It's worth noting that networks don't use a specific quantity of energy for each every transaction. The network can use the same amount of energy whether it handles one transaction or one million.
It is, nonetheless, frequently used as a rough, albeit contentious, comparison.
Based on the typical number of transactions and the amount of energy necessary to run the network, one Ethereum transaction requires around 644,004,000 joules. According to Statista, a single ETH transaction consumes the same amount of energy as "thousands of VISA card transactions."
Following the switch to Proof of Take, Eth2 is predicted to utilise 99 percent less energy than the current mainnet.
Ripple (XRP), which utilises 28,440 Joules per transaction, is another low-energy option. According to Ripple, the amount of energy used could have powered a light bulb for 79,000 hours for every million transactions on its network.
The energy used by BTC could run a light bulb for 4.51 billion hours for the same amount of transactions. Ripple believes that XRP is 57,000 times more efficient than BTC as a result of this.