• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, May 14, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto Bitcoin

Algorand darkened Times Square in New York to save electricity

by Baisakhi Mishra
April 23, 2022
in Bitcoin, Crypto, News
Reading Time: 2 mins read
0
Times Square went dark tonight to prove crypto doesn’t have to be bad for the planet

Also read: Utoday

TwitterWhatsappLinkedin

Algorand, a carbon-negative blockchain platform darkened the Times Square in New York. For one hour, turning off all of the blinking billboards and flashing lights will save around 23.4 billion joules of electricity. The same amount of energy would only power the Bitcoin network for 1.5 seconds.

You might also like

Adopt AI and Flam Raise $20M to Power the Future of AI and Mixed Reality

Trump’s Visit to Saudi Arabia: Focus on Iran, Investment, and Israel

Leadership Chaos Hits U.S. Copyright Office Amid AI Policy Battle

“Algorand was designed from the ground up to do [this]… This is what differentiates us from other blockchains.”

For one hour, darkening Times Square saved 23.4 billion joules of energy. The same amount of energy that powers the square’s hustle and bustle for 60 minutes would run the Bitcoin network for 1.5 seconds. However, it could power 350 million transactions on Algorand’s ledger.

Times Square went dark tonight to prove crypto doesn’t have to be bad for the planet
Also read: Utoday

Algorand darkened Times Square in New York to prove crypto doesn’t have to be bad for the planet

As blockchains gain pace, the environmental impact of cryptocurrency, particularly the carbon-intensive nature of Bitcoin mining, has become a lightning rod. Algorand verifies genuine transactions using a pure proof-of-stake consensus technique. The protocol teamed with ClimateTrade, a blockchain-based marketplace for delivering CO2 offsets, last year.

Algorand, the world’s first carbon-negative blockchain protocol did that by blacking out New York’s Times Square to conserve energy and put competing systems to the test in terms of energy costs.

Algorand verifies genuine transactions using a pure proof-of-stake consensus technique. Proof of work, the main villain in claims of crypto’s carbon footprint, forces so-called verifiers to load supercomputers with solving complex mathematical riddles, resulting in large quantities of electricity being spent in mining.

“From normal payments to NFTs, DeFi, and the metaverse, we have the technology to enable speed, scale, security, and decentralization on a carbon-neutral platform,” said Staci Warden, CEO of the foundation. “Algorand was designed from the ground up to do [this]… This is what differentiates us from other blockchains.” To become net-carbon-negative, the protocol teamed with ClimateTrade, a blockchain-based marketplace for delivering CO2 offsets, last year.

Bitcoin, the world’s most valuable cryptocurrency has a market capitalization of about $790 trillion. Whereas Ethereum, the second-largest cryptocurrency with less than half of Bitcoin’s market capitalization, plans to switch from proof of work to proof of stake later this year.

If you find this article informative then do not forget to share it with your friends and family! Let us know in the comment section what do you think about the topic.

Also read: Cricket NFTs platform Rario raises $120 million led by Dream Capital

 

Tags: #Algorandbitcoin
Tweet54SendShare15
Previous Post

Binance removed and altered an emoji on Twitter

Next Post

Russia forbids the entry of US Vice President Kamala Harris, along with other officials

Baisakhi Mishra

Recommended For You

Adopt AI and Flam Raise $20M to Power the Future of AI and Mixed Reality

by Ishaan Negi
May 14, 2025
0
Adopt AI and Flam Raise $20M to Power the Future of AI and Mixed Reality

In a powerful endorsement of India’s rising stature in the global deep-tech space, two emerging technology startups—Adopt AI and Flam—have collectively secured $20 million in funding.

Read more

Trump’s Visit to Saudi Arabia: Focus on Iran, Investment, and Israel

by Thomas Babychan
May 14, 2025
0
Trump’s Visit to Saudi Arabia: Focus on Iran, Investment, and Israel

President Donald Trump’s arrival in Saudi Arabia on May 13, 2025, marked the beginning of a carefully planned visit to the Middle East during his second term in...

Read more

Leadership Chaos Hits U.S. Copyright Office Amid AI Policy Battle

by Harikrishnan A
May 14, 2025
0
Trump-Appointed Officials Denied Entry to U.S. Copyright Office Amid Leadership Shake-Up

In a scene straight out of a political thriller, two men arrived at the U.S. Copyright Office in Washington, D.C. earlier this week claiming to be newly appointed...

Read more
Next Post
Kamala Harris

Russia forbids the entry of US Vice President Kamala Harris, along with other officials

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?