PoS-based DLTs energy consumption are at least 3 orders of magnitude lower than Bitcoin.” Compare 6 Proof-of-Stake DLTs: Algorand, Cardano, Ethereum 2.0, Polkadot
UCL Centre for Blockchain Technologies Discussion PaperThe increasing popularity of DLT systems since the invention of Bitcoin, and with it the energy-intensive Proof-of-Work (PoW) consensus mechanism, has produced a variety of alternative mechanisms. Proof-of-Stake (PoS) is a particularly popular alternative that is commonly assumed to be more energy-efficient than PoW.In this paper, the UCL Centre for Blockchain Technologies team tested this hypothesis using a mathematical consumption model that predicts expected energy consumption per transaction, as a function of network load.
Comparing Public Distributed Ledgers
The comparison set includes public distributed ledger (DLT) systems that share the critical common denominator of using proof-of-stake (PoS) based consensus. In PoS, validators are selected at random from the pool of users which staked the network’s native cryptocurrency above the minimum and with a probability of selection weighted by stake.
What is Hedera?
Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. It is governed by a collusion-resistant, decentralized council of leading enterprises, universities, and web3 projects from around the world.
Hedera’s performance-optimized Ethereum Virtual Machine (EVM) smart contracts, along with its easy-to-use native tokenization and consensus service APIs, enable developers to create real-time web3 applications and ecosystems that will drive the future of the internet.
Hedera is built differently from other blockchains. It has high throughput with fast finality; low, predictable fees; fair transaction ordering with consensus timestamps; and a robust codebase that ensures scalability and reliability at every layer of its network infrastructure. Hedera is governed responsibly by the world’s leading organizations to ensure that the network is collusion-resistant.
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