Since its establishment, the Fantom Foundation has been dedicated to ensuring the long-term viability of the network. Employing Proof-of-Stake consensus supported by an innovative aBFT algorithm ensures maximum speed, security, and minimal resource usage. However, Its swift transaction times and effective event handling result in a highly energy-efficient network. Not only that, as per their official website, Fantom is committed to offering long-term sustainability with its eco-friendly technology, and they set their standards based on swift transactions and minimal energy consumption.
Fantom: Minimal Energy Footprint
All computations rely on the endorsed validator node setup and the current count of validator nodes. Each transaction on the network consumes approximately 0.000024-0.000028 kWh of energy. Assuming an average transaction rate of 700,000 transactions per day, and referencing the best accessible information on the energy requirements and PuE (Power Usage Effectiveness) of Amazon data warehouses, increasing the validator count to 200 would yield an estimated network consumption of about 0.00009 kWh per transaction. Any assumptions made regarding server energy consumption, such as using higher ranges over lower ones, aim to keep the figures conservative.
In essence, Fantom sets a lofty standard for environmental friendliness. For illustrative purposes, 0.000028 kWh equates to activating a 100W bulb for roughly one second. Alternatively, at current traffic levels, the entire network consumes just 8,200 kWh of energy per year, which is less than the average total annual electricity consumption of a single USA home, approximately 10,700 kWh.
Higher Limit of Fantom’s Energy Consumption per Transaction:
- The Visa Network consumes 52 times as much energy (0.00148 kWh per transaction).
- Ethereum consumes roughly 6.6 million times more energy per transaction (185.52 kWh per transaction).
- At the current hash rate, Bitcoin consumes an astonishing 25.1-68.9 million times as many kilowatt-hours per transaction (the estimated range for BTC is 704-1928.83 kWh per transaction).
Putting Matters into Perspective
Taking a broader view, the estimated yearly consumption of the Ethereum network is approximately 90tWh. Calculating the Fantom network’s consumption at Ethereum’s scale reveals just 12,854 kWh annually. This implies that Ethereum consumes 7 million times more energy, a staggering 700 million percent more power. If Fantom were to handle ten times Ethereum’s current yearly traffic, total consumption on the Fantom network would be around 128,542 kWh (128.54 MWh). Moreover, this is still significantly less than Ethereum’s consumption at current levels by a factor of 700,000. Returning to the estimate of power consumption with 200 validators, under Ethereum’s current load, power consumption on the network would be about 40,200 kWh, still approximately 2.2 million times less than Ethereum.
Fantom Designed for Eco-Sustainability
As the architect of a public chain, Fantom embraces the responsibility to deliver the most environmentally friendly, secure, and advanced technologies to its user base. Meanwhile, technological advancements and increased sustainability go hand in hand, emphasizing the importance of offering energy-efficient solutions and addressing network power requirements. At the end, Fantom remains committed to dedicating substantial resources to the research and development of protocol upgrades, exemplified by the major Go Opera update that took place in April 2021, with expectations of more to come in the pursuit of higher levels of efficiency and eco-sustainability.
