Can Solana validators help SOL traders earn good returns

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Solana is among the numer­ous blockchains that have a deep focus on car­bon neu­tral­i­ty. An impor­tant con­sid­er­a­tion espe­cial­ly now that cli­mate change is becom­ing a more press­ing issue. Unfor­tu­nate­ly, a recent ener­gy use report revealed that its car­bon foot­print has increased.

It went up by 26% YoY from March 2021 to March 2022. The out­come was con­trary to the network’s plans for a low­er car­bon footprint.

The report cites mul­ti­ple rea­sons that affect changes in Solana’s car­bon emis­sion stats. They include improved data accu­ra­cy and increased e‑waste due to hard­ware pro­duc­tion and pow­er con­sump­tion by val­ida­tor nodes.

Accord­ing to the research, Solana val­ida­tor nodes’ ener­gy con­sump­tion dropped by rough­ly 48%. Solana views this as one of the areas that can help reduce its car­bon foot­print. It stated,

“This analy­sis found that run­ning the entire Solana net­work for an hour uses less ener­gy than a sin­gle Bit­coin transaction.”

The com­pa­ny rec­og­nized the role of its entire ecosys­tem in pur­su­ing more sus­tain­abil­i­ty. More­over, it acknowl­edged the impor­tance of val­ida­tors in this pur­suit. The net­work called on val­ida­tors, to play an active role in trim­ming emissions.

It’s here to be not­ed that ener­gy effi­cien­cy and a low car­bon foot­print will play an increas­ing­ly impor­tant role in the future.

This is espe­cial­ly true for the blockchain indus­try. A high­ly effi­cient and sus­tain­able blockchain net­work will be more attrac­tive to poten­tial dapps. That is to say- a network’s car­bon foot­print might have a sig­nif­i­cant impact on its adop­tion and utility.

The ghost of Solana’s past

A high­er lev­el of util­i­ty can con­tribute to stronger price action. Speak­ing of price action, Solana will need more than a favor­able car­bon foot­print to sup­port SOL’s per­for­mance. Well, the cryp­tocur­ren­cy, on 21 Sep­tem­ber, at press time, trad­ed at $31.80.

Source: Trad­ingView

SOL’s cur­rent price lev­el is close to its low­est price lev­el in 2022, high­light­ing its under­per­for­mance so far this year. This also makes SOL one of the poor­est per­form­ing cryp­tocur­ren­cies in Q3.

Its per­for­mance reflects a reduced inter­est in the last few months despite its dis­count. Like­ly due to the pre­vi­ous issues that affect­ed the network’s oper­a­tions. Solana has a long way to go before it can regain investors’ con­fi­dence and a small­er car­bon foot­print might not cut it.

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