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A major change to the way that Velas processes up to 75,000 transactions every second is set to radically reduce energy consumption, benefiting people, businesses, and the planet.
Leading blockchain protocol Velas today announced an important step on its journey to net zero carbon. This is part of the company’s commitment to tackling the challenge of climate change.
The announcement signals a move to a new innovative model that changes the way that transactions are processed across its industry-leading blockchain protocol.
Effectively, this shifts from a highly energy-intensive ‘Proof of Work’ model to a much more energy-efficient approach that combines “Delegated Proof-of-Stake (DPoS)’ with “Proof-of-History (PoH).”
Whilst the technicalities of this shift may not be widely understood outside of the sector, the impact of these changes will ultimately matter to everyone. This is because they will deliver a reduction in energy usage across the blockchain that will eliminate the carbon emissions generated by the protocol.
Today’s announcement is just the latest move by the blockchain protocol in its efforts to develop new ways of working that maintain transaction speeds at scale whilst reducing the impact on the environment.
It represents a significant shift that will lead to a more sustainable infrastructure that benefits businesses, communities, and the wider planet.
Today’s announcement is not the first time that Velas’s net zero approaches have been in the spotlight. It builds on recent certification that confirmed that Velas had achieved carbon
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