Phantasma is proud to announce that our blockchain is certifiably carbon negative! Having built our industry leading platform and tools with our sustainable, green future in mind, Phantasma’s carbon footprint is miniscule by design. However, a carbon footprint – no matter how small – is not something you want to leave behind for future generations to deal with.
A green journey towards a better future
Committing to not just achieving but exceeding carbon neutrality on April 17th 2021, our team set out to find suitable partners – and preferably in the blockchain industry. With enough green actors in this space we can affect true change, evolve from POW driven massive emissions to a new paradigm: Certifiably Green blockchain technology! Powered by the media attention towards legacy protocols, blockchain technology and particularly non fungible tokens have been discarded by many as destructive inventions fueling global warming. Still to this day, the majority of people unfamiliar with blockchain technology are unaware of eco-friendly alternatives that enable them to take part in this disruptive technology. Phantasma and our partners aim to change this perspective!
Carbon negativity on Phantasma soil
On October 1st we announced that we had partnered with Save Planet Earth – a worldwide program to sequester carbon through multiple initiatives, including accelerated afforestation and reforestation. On a mission to help remove the excess carbon in the atmosphere, Save Planet Earth aims to contribute to lessening the impact of global warming through freshly built-up (tree-based) carbon storage as well as many other initiatives to offset / reduce CO2 emissions. Since its inception, Save Planet Earth has built up carbon sequestration initiatives around the world, including approval of the planting of over 100 million trees, initiatives in solar, hydro, wind, beach/ocean clean-up, recycling, waste management and more. For all of these initiatives they receive certified carbon credits which can then be provided to individuals and companies who wish to offset their carbon footprint.
In their search to find the optimal eco-friendly and capable blockchain to mint the Carbon Credit NFTs on, Save Planet Earth discovered Phantasma, and the two projects were a perfect match. Phantasma enables Save Planet Earth to mint their Carbon Credit NFTs (CCNFTs) on a certified carbon negative blockchain, while Phantasma is able to acquire home grown CCNFTs to offset our carbon footprint and ensure that the infrastructure and tooling we provide does not adversely affect our shared planet.
Next generation blockchain technology is green
The Phantasma blockchain is an energy efficient blockchain unlike such legacy technologies as Ethereum and Bitcoin which are based on Proof of Work. Our servers communicate and confirm transactions without having to execute infinitely complex calculations due to our eco-friendly Proof of Stake variant protocol.
As a result of this, the entire Phantasma blockchain consumes a mere ~52,500kWh per year. Now, numbers like that may not immediately be informative for the average reader, so let’s compare and contrast to the power consumption of other things in our society:
It’s around the same annual power consumption as five average American households (source)
In contrast, the legacy Ethereum blockchain consumes approximately 35,500,000,000kWh per year (35,5TWh) at the time of writing (source). That’s the same as 3,300,000 — three million three hundred thousand — average American households, or 660,000 times as much power as Phantasma consumes.
The “original” blockchain, Bitcoin, consumes approximately 133,650,000,000kWh per year (133,65TWh) at the time of writing (source). This corresponds to the power consumption of a mindblowing 12,700,000 — twelve million seven hundred thousand — average American households, or 2,540,000 times the amount of energy that Phantasma consumes.
Phantasma ecoNFTs — like your morning coffee
Another important factor to look at from the ecoNFT angle is the amount of power consumed per NFT that is minted. If a single NFT had been minted over the course of a year, the average energy consumption per NFT would be massive. However, Phantasma is already a busy ecosystem, and hundreds of thousands of NFTs have been created using our technology.
With a 52,500 kWh annual power consumption divided by an average of 275,000 NFTs minted annually since February 2019 — and taking into account that NFT minting accounts for much less than half of Phantasma’s energy consumption — an average of 0.1 kWh has been consumed per NFT minted. In contrast, a platform such as Ethereum expends 75 kWh per NFT minted. To mint an NFT on both platforms, this is equivalent to:
An air conditioner running for 4.5 minutes using Phantasma vs an air conditioner running for 3,375 minutes (2 days 8 hours) using Ethereum
Using a hair dryer for 6 minutes with Phantasma vs using a hair dryer for 4,500 minutes (3 days 3 hours) with Ethereum
Letting your coffee maker work for 6.5 minutes using Phantasma vs letting your coffee maker work for 4,875 minutes (3 days 9 hours) using Ethereum
Spending 12.5 minutes at your home computer minting on Phantasma vs spending 9,375 minutes (6 days 12 hours) at your home computer minting on Ethereum
Operating a ceiling fan for 25 minutes using Phantasma vs operating a ceiling fan for 18,750 minutes (13 days) using Ethereum
Mind that the above examples even grossly exaggerates the power consumption caused by NFT minting on Phantasma. Being able to mint 1,000 NFTs in a single transaction, Phantasma is nowhere close having its full capacity utilized. Running at full capacity, that 0.1 kWh spent making your morning coffee could be spent creating more than 10,000 ecoNFTs on Phantasma.
Certified by The Sustainable Future Group
Save Planet Earth CCNFTs are linked to specific, verifiable initiatives and registered with the United Nations Framework Convention on Climate Change (UNFCCC). To offset our carbon footprint, Phantasma has acquired and burned CCNFTs equivalent to offsetting 400% of our carbon footprint – in clear text; Phantasma has gone carbon neutral, and then kept going and going until we reached a level of carbon negativity where we could have run four full sets of Phantasma nodes and still be verifiably carbon neutral.
Join Save Planet Earth and Phantasma in going Green!
As Save Planet Earth is gearing up to release their next series of verifiable carbon credits on Phantasma, we would like to take this opportunity to encourage every SOULdier to consider this opportunity. Each and every single one of us leave a carbon footprint – the size of which depends on our lifestyle, where we are geographically located and a host of other factors. Together we can be a part of the problem, or we can choose to be a part of the solution!
SOULdiers are conscious of their place in the world, and conscious about the fact that all actions have consequences and ripple effects. Take a little time to calculate your own carbon footprint, and that of your family – whether it’s surprisingly big or small, every bit counts. Now consider offsetting it, be the change we all want to see! As a natural extension of our commitment to sustainability, every single member of the Phantasma team has committed to offsetting our carbon footprints – so the minute you see the next batch of CCNFTs listing on GhostMarket, we welcome you to join us!
Certifiably Green blockchain technology – carbon negative smartNFTs!