GenerEOS believes in making the blockchain a carbon neutral technology and has donated 16 EOS to offset our carbon footprint of running block production infrastructure on the EOS mainnet.
Let’s make the EOS Blockchain Carbon Neutral!
The Blockchain Energy Problem
As we know Blockchain Technologies consume energy and there has been concern that previous models such as Proof of Work or mining have been consuming excessive amounts of electricity. Currently, BTC and ETH use 0.33% and 0.09% of the worlds electricity consumption respectively which contributes to a significant carbon footprint.
EOS Energy Efficiency
We dived into an energy comparison in a recent article we wrote taking a look at the energy consumption between BTC, ETH (POW) and EOS (DPOS). You can find the full article here. It was found that EOS was 66,454 times more energy efficient than BTC and 17,236 times of efficient than ETH.
Making the EOS Blockchain Carbon Neutral
While we can see that EOS consumes less energy than its earlier generation blockchains such as BTC and ETH, there was still room for improvement. GenerEOS supports the Initiative put forward by EOS Authority to make the blockchain completely carbon neutral.
This will be achieved by offsetting the carbon emissions per BP. Currently as it stands each BP has an annual carbon emission of 7.025 tonnes based on the electricity usage of 15.7625 MWh/year.
See the image below for the total energy consumption and emissions of the EOS mainnet BPs.
The CO2 Emissions will be evaluated each year to ensure that the EOS Mainnet remains neutral.
Carbon credits are then purchased on behalf of the BPs and put towards CO2 offset projects that Climate Care selects. In doing this each Carbon Credit that is purchased acts as a financial unit of measurement that allows organisations such as BPs to support the transition to a low carbon future. Each Carbon Credit represents the removal of one tonne of CO2 equivalent from the atmosphere.
See the diagram below to see the process of how this will help make EOS Carbon Neutral.
The EOS Mainnet is now Carbon Neutral
With the great efforts of EOS Authority and other top BPs, the EOS mainnet has successfully been offset for its first year and offset 562 Tonnes of CO2.
Here’s to many more years of carbon neutrality for EOS.