The Solana Foundation was established earlier this year to promote decentralized technology adoption as a public good. The foundation noted that it was propelled by the vision of a society in which people are empowered to keep control of their data and have access to networks that allow them to transfer value without relying on third parties.
The Solana Foundation recently announced that the Solana blockchain had achieved carbon neutrality for 2021 as part of its initiative to reduce Solana’s relatively low environmental effect.
The Solana Foundation will support refrigerant destruction, which is listed by Green America as one of the most effective strategies to cut carbon emissions. The Foundation is funding this effort to offset the Solana network’s carbon emissions for the entire year of 2021.
In a statement from Dan Albert, Executive Director of the Solana Foundation, he revealed the excitement of the team to have achieved this environmental milestone. He said, “We’re dedicated to keeping the Solana ecosystem as environmentally friendly as possible. Our carbon neutrality initiatives, paired with Solana’s high-performance, energy-efficient design, means the community can build a sustainable web3 future for many years to come.”
Solana Energy Stat.
Solana, the world’s largest blockchain, is now very energy efficient. According to the Solana Foundation’s most recent research, a single Solana transaction needs just 1,939 Joules of energy, which is less than the energy necessary to execute two Google searches. That would be the equivalent of running a refrigerator (810,000 J per hour) for roughly 11 seconds or keeping an LED light bulb on (36,000 J per hour) for a bit more than 3 minutes.
It also consumes significantly less energy than transactions on other popular blockchains, such as eth2 (126,000 J), ethereum (777,600,000 J), or bitcoin (7,412,400,000 J).
The Solana Foundation will keep monitoring the ecosystem’s impact on the environment in terms of energy emission. It has committed to keeping the Solana network architecture carbon-neutral through 2022 and beyond, as well as maintaining openness with regular energy usage updates.
The Solana Foundation Initiative
The Solana Foundation’s primary focus is on growing and enhancing the Solana protocol’s ecosystem. The Foundation believes that the first approach toward worldwide access to decentralized technologies is to build networks that are capable of meeting the technological requirements of global markets, and Solana Protocol is the only blockchain platform that presently fits this requirement.
Here are a few initiatives the Solana Foundation uses to achieve its goals:
Programs for Grants and Delegation
The Solana Foundation will set aside cash for third-party research and development efforts that improve the ecosystem’s overall growth and development.
Development and Education
There is also general provision and support for decentralized technology education and uptake.
DevelopmentThe Solana Foundation will also fund the development and growth of the Solana Protocol to kick off these initiatives. The Foundation currently owns and administers all of the Intellectual Property previously owned by Solana Labs, Inc.