The first public, carbon-negative blockchain showcases its commitment to sustainability and advocates for building a greener future on Algorand
Algorand, the blockchain transforming business models of all kinds, announced it will take over Times Square to showcase its commitment to sustainability and climate-first technology. The takeover will begin as Earth Day celebrations around the globe kick-off — on Earth Day Eve in the US, Thursday, April 21, from 8:00-9:00 pm EDT— and demonstrates that the future can be built using modern, energy-efficient technology.
At the top of the hour, the billboards of Times Square will blaze with a bold call to action, encouraging audiences to unplug, celebrate the Earth, and commit to building a greener future. For the remainder of the hour, the billboards will turn to black — a move that at once conserves power and brings a rare moment of silence and calm to one of the busiest centers in the world.
Marketing Technology News: Deborah Besemer to Retire as Chairman of Brightcove’s Board of Directors
Darkening Times Square for a duration of one hour saves roughly 6500 kilowatt hours. This amount of energy is equivalent to the energy required to complete 350 million finalized transactions on-chain or 2 work weeks worth of network liveness. In comparison, it would power up to six finalized transactions on the Bitcoin network running for just 1.5 seconds.
“Algorand was built from the start to achieve global speed, scale, and decentralization, while maintaining a lightweight, energy efficient footprint,” said Staci Warden, CEO of the Algorand Foundation. “That’s what sets us apart from other blockchains.”
Sustainability has been a core component of Algorand since its inception. As the world’s first pure proof-of-stake blockchain, the Algorand network was designed from the ground up to minimally impact the environment. Because its pure proof of stake consensus mechanism requires minimal computational power or electricity, Algorand has been a leader in minimizing the environmental impact of blockchain technology. Compared to the Bitcoin blockchain, digital asset creation and transactions on Algorand result in 120 million times less CO2 emissions.
Marketing Technology News: MarTech Interview with Werner Kunz-Cho, CEO at Fareportal
“We are committed to global financial inclusion at scale,” continued Warden. “From traditional payments, to NFTs, to DeFi and the metaverse, we have the technology that delivers speed, scale, security and decentralization, all on a carbon-neutral platform”
Last year, Algorand solidified its commitment to sustainability by partnering with ClimateTrade to become the world’s first carbon-negative blockchain. ClimateTrade is a leader in CO2 emissions transparency and traceability that is using blockchain-based solutions to improve the efficiency of sustainability efforts for leading corporations around the globe. Later today Algorand will announce its approach to become the world’s first self-sustained carbon-negative blockchain.
