Best in the Business: Energy Efficiency Proving Major Drawcard for Fantom
One of the fastest-growing blockchain platforms utilized by crypto traders is leading the world in terms of energy efficiency, bringing some of the lowest kWh used per transaction available anywhere on the globe today.
Fantom sees thousands of users utilizing the platform daily for a variety of purposes, including information security and crypto-currency transactions, including those with Fantom’s native token $FTM.
In the crypto-field, Fantom is one of the world’s leading platforms, offering the ability for transactions to be completed within one at a fraction of the cost of other platforms.
Fantom is also proving to be one of the most energy-efficient options available to investors, with some of the lowest kWh use per transaction of any crypto platform.
The cryptocurrency investment and trading industry have seen significant discussion over recent weeks around energy efficiency, with concerns that the energy used by large-scale Bitcoin and Ethereum mines are having a greater effect on a warming climate than many first suspected.
For example, a recent BBC report suggests that Bitcoin’s carbon footprint in China, where 75 percent of the globe’s Bitcoin mining is based, is as large as one of China’s ten largest cities.
That jaw-dropping finding has sparked concerns that the effect of Bitcoin on China’s climate is so significant that it could put China’s carbon-neutrality-by-2030 plan at risk.
Another example was seen with the electric vehicle giant Tesla, which U-turned on its original plan to offer customers the ability to purchase a vehicle using Bitcoin, citing the astronomical carbon footprint of the currency as the reason behind its backdown.
On the other side of the fence is Fantom, which is raising eyebrows across the industry as it positions itself as one of the most energy-efficient platforms available on the market today, consuming just 0.00000301 kWh per transaction.
For scale, based on Fantom’s average of 500,000 transactions per day, the platform’s total energy consumption is 35 million times less energy-dependent than other cross-chain platforms such as Ethereum, and a whopping 300 million times less demanding than Bitcoin.
Even when adjusted for scale, the energy efficiency of Fantom still massively outperforms that of Ethereum.
For example, even if Fantom hit the same number of transactions per day as Ethereum, Fantom would still consume 10 million times less energy than the opposition, providing investors with not only a more superior platform but the knowledge that using it isn’t going to significantly contribute to a rise in global CO2 emissions from energy generation.
And the energy efficiency is proving yet another major drawcard for those making the shift to Fantom.
In the last month, the platform has seen a huge jump in new users flocking to Fantom, with the number of transactions painting the biggest picture.
In the last week, the platform has seen an average of 500,000 transactions every day – a substantial jump on the average of 10-15,000 transactions per day seen at the beginning of April.
In the last few days, Fantom officially hit a total of ten million transactions, a far cry from the platform’s total of 3 million transactions milestone reached only weeks ago.