The Solana Foundation has launched a real-time tracking dashboard to measure carbon emissions on its blockchain. The foundation collaborated with data platform Trycarbonara to create the dashboard, which is the first “major smart-contract blockchain” to measure carbon emissions in real-time. This marks an important step towards promoting transparency and accountability in the blockchain industry.
The new dashboard can be found on the Solana Climate website and displays the total node count, megawatt-hours, total carbon emissions average, and marginal use, alongside numerous other indicators. Furthermore, it contains several emissions comparison charts where users can view side-by-side conversions depicting Solana usage versus numerous other emission-producing activities.
According to a blog post from the foundation, the organization hopes that this initiative will set a new standard for measuring emissions in blockchain by publishing this data. The data used to power the Solana Foundation’s real-time carbon emissions dashboard is available open-source and is modeled on the estimated carbon footprint of the Dell PowerEdge R940.
It remains to be seen whether other blockchain outfits will adopt similar tracking systems, but this move from the Solana Foundation comes amid increasing global efforts to utilize blockchain technology to monitor carbon emissions around the world.
As part of its “Shaping Europe’s digital future” initiative, the European Commission has praised blockchain’s ability to serve as a foundation for the accurate measurement of carbon emissions in any sector. In an article on the EU’s digital strategy blog, the commission wrote, “Blockchain can be utilised through smart contracts to better calculate, track and report on the reduction of the carbon footprint across the entire value chain.”
This move towards using blockchain to track carbon emissions is particularly relevant given the global climate crisis and increasing demand for more sustainable and eco-friendly practices.
In the United States, President Joe Biden recently floated budget plans that would add an excise on electricity used for cryptocurrency mining in the amount of 30%. This shows that the government is also taking steps towards addressing the energy consumption concerns of the cryptocurrency industry.
Overall, the Solana Foundation’s real-time carbon emissions tracking dashboard is a positive step towards promoting transparency and accountability in the blockchain industry. As more blockchain outfits follow suit, the industry will become more eco-friendly, which is crucial for achieving a sustainable future.