MultiversX Leads the Charge for a Greener Web3, Offsetting 25% More CO2 Than Its Network Emissions

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In a world where environmental concerns are paramount, MultiversX, the leading blockchain infrastructure, is taking significant steps to lead the charge towards a greener Web3.

By offsetting 25% more CO2 emissions than its network and operations, MultiversX is setting an outstanding example for the blockchain industry.

A lasting commitment

MultiversX has always been committed to creating a more sustainable and environmentally friendly blockchain ecosystem.

It recently conducted an analysis of the company’s carbon footprint, carried out by experts from Offsetra, which revealed that to achieve carbon neutrality, the company needed to offset a total of 5,253 tonnes of CO2 emissions resulting from its blockchain network and operations.

However, MultiversX went one step further and decided to offset 25% more CO2 emissions, a total of 6,569 tonnes.

To put this into perspective, this is equivalent to 16,422,500 miles of driving or 16,422 bitcoin transactions.

This commendable initiative involves investment in Offsetra’s verified projects that focus on biodiversity and local communities.

A complete analysis

Offsetra’s carbon footprint analysis was meticulous, taking into account various aspects of MultiversX’s activities.

It took into account not only emissions from the blockchain network, but also from node operations, office and employee activities, and even travel and accommodation.

MultiversX’s commitment to environmental responsibility is evident in this comprehensive approach.

Energy efficiency in an energy-hungry landscape

One of the most remarkable aspects that sets MultiversX apart from many other blockchain implementations is its energy-efficient SPoS (Secure Proof of Stake) consensus algorithm.

With its 3,200 validation nodes and energy-efficient operation, MultiversX is an excellent example of how blockchain can be sustainable.

To put the energy consumption of blockchain technology into perspective, a report by the White House Office of Science and Technology Policy (OSTP) estimated that global electricity use for crypto-assets was between 120 and 240 kWh per year.

This is equivalent to 0.4%-0.9% of the world’s annual electricity consumption, which exceeds the total annual electricity consumption of many countries.

Sustainable development

MultiversX’s commitment to sustainable development is built into its very design.

Thanks to innovative features such as Adaptive State Sharding, the network of over 10,000 servers can process an impressive 30,000 transactions per second at minimal cost.

This is achieved with minimal resource utilization, enabling significant savings on a large scale.

The protocol can easily adapt to demand by adding new servers to the network, while maintaining minimal carbon emissions.

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A green future

MultiversX’s commitment to the environment goes beyond carbon neutrality.
It actively contributes to a greener future by offsetting 25% more CO2 emissions than its network is responsible for.

This means that while MultiversX powers millions of DeFi and NFT transactions, it simultaneously has a positive impact on the planet.

In its quest for technological progress, MultiversX firmly believes in combining innovation with environmental responsibility. Its commitment is not just to achieve balance, but to tip the scales in favor of a healthier planet.

A vision for the future

Beniamin Mincu, CEO of MultiversX, sums up the company’s vision: “MultiversX is dedicated to developing innovative solutions that not only address complex global issues, but also have a positive and lasting impact on the environment. We envision a future where technology and environmentally responsible stewardship work hand in hand.

Read more

For detailed information on MultiversX’s environmental efforts, please visit their environmental page.

About Offsetra

Offsetra is a company dedicated to providing consumers and businesses with an easy and intuitive way to achieve carbon neutrality. It does this by using verified carbon offsets, while striving to raise awareness and inspire climate action.

Stay connected

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FAQs

How does MultiversX offset its CO2 emissions?

MultiversX offsets its CO2 emissions by investing in verified projects that focus on biodiversity and local communities, as identified by Offsetra’s analysis.

What sets MultiversX apart from other blockchain infrastructures?

MultiversX stands out for its energy-efficient Secure Proof of Stake (SPoS) consensus algorithm and its commitment to sustainable development.

What is Adaptive State Sharding and how does it contribute to sustainability?

Adaptive State Sharding is a technical feat that enables MultiversX to process an impressive number of transactions with minimal use of resources, resulting in efficiency and environmental responsibility.

How can I contribute to carbon neutrality by using Offsetra?

Offsetra offers consumers and businesses an easy and intuitive way to achieve carbon neutrality using verified carbon offsets.

What is MultiversX’s long-term vision for sustainability?

MultiversX envisions a future where technology and ecological management go hand in hand, tackling complex global problems and having a lasting impact on the environment.

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