This blockchain platform claims to be environmentally friendly without compromising on performance

The excitement around blockchain technology is palpable, but it has been coupled with growing concerns about the impact of mining on the environment.

But some crypto projects are tackling these climate fears head-on – with Algorand positioning itself as a high-performance, decentralized network that achieves sustainability without sacrificing speed, scale or security.

Built as a very low energy blockchain, the people behind this platform have started a foundation that aims to highlight why blockchains need to be environmentally friendly – ​​all while offering a lasting solution that is carbon negative, fast, scalable and secure. The revelation? To prove that our economic future does not have to cost the earth.

Sometimes being environmentally conscious can be expensive. While electric cars are undoubtedly more efficient, they tend to cost more than gas guzzlers because of how this technology is very new. Algorand is different; if anything, transactions cost less than on rival networks – and regardless of size, users will only pay fractions of a penny.

ALGO tokens are the beating heart of this ecosystem, and already there is evidence that this cryptocurrency is being used to facilitate worldwide transactions – keeping consumers green and in the black, unlike costly money transfer services that leave them in the red. The digital resource also plays an important role in management, and gives society a decisive say in the project’s future direction.

Desire to be green

Of course, it takes time to inform the public about why it is important to take care of the climate – and Algorand is committed to participating in campaigns that make an impact. On Earth Day, Algorand took over Times Square, but instead of bathing New York City in light, every screen was turned off for an entire hour. Not only do estimates suggest that the energy saved could power 350 million transactions on this blockchain, but there’s little doubt that curious locals and tourists alike wanted to find out who was behind the stunt.

Landmarks in major cities have also been used as a force for good in other ways. In Berlin, Algorand established air-purifying billboards to coincide with the Envision Racing series – encouraging participants to challenge their preconceived notions about blockchain technology. Other elements of the partnership include the launch of a limited edition NFT line of eight helmets, with all proceeds dedicated to planting mangrove trees in Madagascar.

Climate without compromises

Algorand says advanced cryptography is at the heart of everything it does – delivering high-speed transactions with instant finality, 24 hours a day. Continuous improvements are made to improve performance and interoperability, with cutting-edge smart contracts paving the way for developers to build DeFi and Web3 dApps. And with environmental impact a common source of criticism among NFT skeptics, the project provides a way for crypto collectibles to be minted en masse and without consequence.

A Pure Proof-of-Stake protocol plays a major role in achieving sustainability, and the data provided by the project is compelling to say the least. As a low-energy, high-performance technology, a transaction on Algorand uses less than one milligram of CO2 – far less than a Google search.

From a technological and environmental perspective, blockchains have a long way to go. Algorand’s goal is to prove that both of these problems can be solved simultaneously – unlocking new opportunities and delivering all the benefits of a decentralized financial future without the devastating consequences.