A pure proof of stake blockchain platform, Algorand has announced that it has rented the billboards of Times Square to make a statement about sustainability. Alogrand will take over the billboards on April 21, Earth Day eve from 8PM to 9PM.
The billboards of Times Square will display a call to action and encourage audiences to unplug, celebrate the Earth, and commit to building a greener future. The billboards will remain dark for the remainder of the hour to conserve power and make a point.
“We wanted to make a bold statement on a large platform to educate the general public that advances in blockchain technology like those employed at Algorand have made it more green and sustainable than the first generation proof-of-work blockchains, and definitely more green than traditional banking and finance rails”, said Staci Warden, CEO of Algorand Foundation.
The Times Square going dark for an hour will save 6,500 KiloWatts of energy. Alogrand can conduct 350 million transactions with that much energy.
Alogrand was launched in 2019 and is designed to have a minimal impact on the environment. The Algorand blockchain’s pure proof of stake consensus method emits 120 million times less CO2 than the Bitcoin blockchain’s proof of work consensus process.
“Algorand was built from the start to achieve global speed, scale, and decentralization, while maintaining a lightweight, energy efficient footprint,” said Warden.
Alogrand also aims to become the world’s first self-sustained carbon-negative blockchain. The company partnered with ClimateTrade to achieve the same.
Warden said, “We are committed to global financial inclusion at scale, from traditional payments, to NFTs, to DeFi and the metaverse, we have the technology that delivers speed, scale, security and decentralization, all on a carbon-neutral platform.”
Infact, Alogrand has developed such a high credibility that last year the government of El Salvador had signed a cooperation agreement with Koiban to develop blockchain infrastructure on the Algorand technology.
