Solana: Can Validators help SOL Traders make good profits?
Solana is among the numerous blockchains that have a deep focus on carbon neutrality. An important consideration, especially now that climate change is becoming a more pressing issue. Unfortunately, a recent report on energy use revealed that your carbon footprint has increased.
It increased 26% year over year from March 2021 to March 2022. The result ran contrary to the network's plans for a smaller carbon footprint.
The report cites multiple reasons for changes in Solana's carbon emissions statistics. They include increased data accuracy and increased e-waste due to hardware production and power consumption by validation nodes.
According to the research, the power consumption of the Solana validation nodes was reduced by approximately 48%. Solana sees this as one of the areas that can help reduce their carbon footprint. She stated,
"This analysis found that running the entire Solana network for an hour uses less energy than a single Bitcoin transaction."
The company recognized the role of its entire ecosystem in the search for greater sustainability. In addition, he recognized the importance of validators in this search. The network called on validators to play an active role in reducing emissions.
It should be noted that energy efficiency and low carbon footprint will play an increasingly important role in the future.
This is especially true for the blockchain industry. A highly efficient and sustainable blockchain network will be more attractive to potential dapps. In other words, the carbon footprint of a network can have a significant impact on its adoption and usefulness.
The ghost of Solana's past
A higher level of profit can contribute to stronger price action. Speaking of price action, Solana will need more than a favorable carbon footprint to support SOL's performance. Well, the cryptocurrency, on September 21, at press time, was trading at $31.80.
SOL's current price level is close to its lowest price level in 2022, highlighting its underperformance year-to-date. This also makes SOL one of the worst performing cryptocurrencies in Q3.
Its behavior reflects a lower interest in recent months despite its discount. Probably due to previous issues that affected network operations. Solana has a long way to go before she can regain investor confidence, and a smaller carbon footprint might not be enough.
Sep 22, 2022
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