Algorand Blockchain technology is altering business models of all kinds. On the special occasion of Earth Day, it will showcase its commitment to sustainability and climate-first technology in Times Square, NYC.
The appropriation will begin as Earth Day celebrations around the globe kick off on Earth Day Eve in the US On Thursday, April 21, from 8:00-9:00 pm EDT. It will demonstrate that the future can be built using modern, energy-efficient technology.
The billboards of Times Square will shine with a bold call to action. Further, it will be motivating audiences to unplug, celebrate the Earth, and commit to building a greener future. For the rest of the hour, the billboards will bring a rare moment of silence. This will be done to calm one of the busiest centers in the world.
Algorand picked Time Square to convey its message about the importance of sustainable technology. Time Square is one of the most high-profile and innovative destinations.
The duration of the billboard appropriation illustrates a comparison between Algorand’s sustainable technology versus other blockchain networks. The 1-hour takeover is estimated to portray 350 million finalized transactions on the Algorand blockchain chain and 90 hours of running the network.
In comparison, it would correlate to only six finalized transactions on the Bitcoin network running for merely 1.5 seconds.
This is what Staci Warden, CEO of the foundation had to say, Algorand was built from the start to accomplish the global speed, scale, and decentralization while preserving a lightweight, energy-efficient footprint. Backing this up she mentions that, this sole trait is what sets them apart from other blockchains
Since the beginning, sustainability has been a core component of Algorand. It is also the world’s first pure proof-of-stake blockchain. The blockchain network was developed from the ground keeping in mind to minimally impact the environment. The pure proof of stake agreement mechanism requires minimal computational power.
In addition, this blockchain network has been a global leader in minimizing the environmental impact of blockchain technology. In comparison with the Bitcoin blockchain, digital asset creation and transactions on Algorand result in 120 million times less CO2 emissions.
The organization is committed to global financial inclusion at scale. From traditional payments to NFTs to Defi and the metaverse. In addition, they have the technology that delivers speed, scale, security, and decentralization, all on a carbon-neutral platform.
Last year, they firmed their commitment to sustainability by teaming up with ClimateTrade. This helped them become the world’s first carbon-negative blockchain.
ClimateTrade is superior in CO2 emissions transparency and traceability. Meaning, that it is using blockchain-based solutions to enrich the efficiency of sustainability measures for leading corporations around the globe.
Later today, Algorand will announce its technique becoming the world’s first self-sustained carbon-negative blockchain.
It is transforming economic models and economies of all sorts. Founded by Turing Award-winning cryptographer Silvio Micali, the high–performing Layer-1 blockchain is remarkable. It helps bring fast, frictionless, and inclusive technologies to everyone.
From TradFi and DeFi to New Creator, Algorand is reforming every industry. With an extraordinary affirmation of interoperability and consistent delivery, it aims to provide- sustainable technology powers more participation, transparency, and efficiency for people.
About The Algorand Foundation
The blockchain is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the pace of traditional finance, but with instantaneous finality, and near-zero transaction costs.
Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solutions for the “blockchain trilemma” by achieving both security and scalability on a decentralized protocol. The project went live in 2019.
The Algorand Foundation is committed to helping and fulfilling the global promise of the Algorand blockchain. It aims to take full responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem.
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