Lambda256 Announces Green NFT, Web3 and Sustainability for Green Planet

SEOUL, South Korea, 1 November 2022 /PRNewswire/ —

What Lambda256 has done for blockchain sustainability

Pursuing environmental sustainability is no longer an option, but an inevitable change for all types of businesses.

Working with eco-friendly blockchain technology to dramatically reduce power consumption, Lambda256 offers Luniverse, a blockchain cloud service platform powered by Lambda256 where anyone can easily issue low-carbon NFTs. Luniverse’s high energy efficiency is envisioned by a validation algorithm called LPoA (Luniverse Proof-of-Authority) behind the Luniverse sidechain, a system that produces 30 million times less energy than energy-intensive systems such as EthereumPoW and Bitcoin. The Luniverse blockchain has received certification from DNV regarding its power consumption and greenhouse gas emissions for the Luniverse mainnet.

Manifesto for the Green Planet

Not long ago, Ethereum, the largest blockchain network in the world, made a long-awaited software upgrade, Merge, and it shifted from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism in September. The foundation reported that the transition was successful, and Ethereum has significantly reduced the volume of energy consumption. This significant transition of Ethereum into the green blockchain brought a huge impact and interest in climate change across the blockchain industry.

As many industry verticals adopt blockchain technology to develop Web3 services or create NFTs with their own IPs, the environmental sustainability of blockchain has become more significant than ever. Luniverse plans to support the Web3 DApp services built on Luniverse to run sustainable business with the goal of achieving carbon net zero with low carbon activities in blockchain operations.

The figure shows estimated annual energy consumption in TW/year for various services/industries in June 2022. The figures are from publicly available sources as linked in the next paragraphs and are visualized from the original source of the Ethereum website.

Regarding the comparison with platforms/services above, Luniverse blockchain consumes 0.0000023 TWh/year. The Validation Algorithm (LPoA) of Luniverse enables lower power consumption and high performance compared to the PoW algorithm. Luniverse enables the embossing and handling of NFTs in the most environmentally sustainable and cost-effective way possible. Their underlying blockchain technology navigates through these challenges, providing an ecologically sustainable marketplace for the minting, distribution and sale of NFTs.

In addition, Lambda256 announced support for environmental activities such as CCA’s campaigns, which Lambda256 has already joined, and to move towards achieving carbon net zero in the blockchain and digital asset industries. Crypto Climate Accord’s goal is to decarbonize the industry by prioritizing climate management and support the entire digital asset industry’s transition to reduced power consumption by 2030 and net zero greenhouse gas emissions by 2040. Lambda256 participates as a Supporter, whose role is to develop standards, tools and technologies to accelerate the adoption of and verify progress towards 100% renewable-powered blockchains by 2025 UNFCCC COP30 Conference.

Towards 2040: Web3 and environmental sustainability

With the emergence of the Web3 era, the importance of sustainability in blockchain enterprises is growing faster than ever. Luniverse is committed to contributing to the improvement of the global environment and a sustainable future through the operation of environmentally friendly Green NFT and blockchain.

Luniverse creates an environmentally friendly digital ecosystem with partners using Luniverse’s green NFT platforms, such as CYPHRLY, MOMENTICA and Upbit NFT. MOMENTICA is the flagship platform powered by LEVVELS, offering new and innovative fan-artist experiences worldwide. The platform enables fans to collect and exchange various formats of digital collectibles. While the initial service will focus on K-Pop artists, the scope of the service will expand to include different artists and genres of music.

Luniverse free trial

Luniverse is a consortium-based blockchain service platform built and powered by Lambda256, which offers a development environment where anyone can easily create blockchain services, including crosschain support and layer2 solutions. Anyone interested in using Luniverse can start the free trial on the official website: https://www.luniverse.io/

SOURCE Lambda256