NEWS: Innovate UK and Enterprise Singapore select iov42 and DoubleHelix to help tackle illegal deforestation
Read more
Resources

Sustainability

By iov42 | 3 July 2022

In the context of Distributed Ledger Technologies this refers to the amount of electrical energy required to secure data. Existing public Distributed Ledger Technologies, such as Bitcoin and Ethereum, use a Proof of Work algorithm in which computers around the world all use energy in a competition to decide which node will secure the next block. This brings security through randomising the network function, but at huge environmental impact as every node competes in parallel to win the block and gain the rewards thereof.
The iov42 Distributed Ledger Technology uses a Proof of Authority consensus protocol that uses less energy for each transaction.

Sign up to our newsletter now

    By submitting your email you consent to receive iov42 newsletters by email. You can unsubscribe at any time. For further information, please see our Terms and Conditions and Privacy Policy

    Latest resources

    Background image icon

    Get started with iov42 today