As public scrutiny increases, companies exploring blockchain or crypto solutions are feeling the pressure to go green. In this aspect, Ripple’s XRP Ledger [XRPL] has been favored by several noteworthy partners.
Now, another company has plans to use XRPL to boost its own development.
Credit where credit is due
Xange.com, a securities exchange collaborating with the UN Development System [UNDS] announced[1] it was working on a Carbon Credit Solution, on the XRP Ledger. The press release by Xange.com stated[2],
“The XRP Ledger was built with sustainability in mind and is one of the first major carbon neutral blockchains. Due to its Federated Consensus algorithm, the XRPL is significantly more energy efficient compared to proof-of-work blockchains and ensures low-cost transactions.”
It’s important to note that Ripple describes[3] the XRP Ledger as “one of the first major carbon neutral blockchains.” In fact, Ripple has carefully cultivated XRPL’s image as a sustainable blockchain solution, and this is a point several partners have also mentioned in the past.
But here’s the million dollar question. Are XRPL and XRP really the greenest choices for future partners who want to focus on sustainability?
Shed light on the numbers
According to the XRP Ledger, one XRP transaction consumes[4] about 0.0079 kWh. To compare[5], a single transaction on Solana reportedly consumes about 0.00051 kWh of energy. This is more than a 10x difference[6] between the two blockchains.
Even so, it’s vital to note that Solana is yet to formally achieve a carbon-neutral status[7]. According to reports[8], this could happen in 2022.
On the flip side, it’s clear that even high-profile partners trust Ripple. The blockchain company’s partnerships with the central banks and governments of Bhutan and Palau to develop
