The Algorand Foundation announced on Monday that it will darken Times Square on Thursday, April 21, to demonstrate its commitment to sustainability.
Starting at 8:00 p.m. ET, the takeover will begin with billboards displaying an environmentalist’s call to action before falling dark for one hour. The ad campaign is timed to coincide with Earth Day on April 22nd in the United States.
The decision comes as the sector’s carbon costs continue to be a lightning rod as it moves into the mainstream. Bitcoin and Ethereum’s energy-intensive proof-of-work (PoW) consensus process differs from the proof-of-stake (PoS) approach utilised by younger blockchains, such as Algorand.
The event, according to Algorand Foundation CEO Staci Warden, aims to refute fallacies about blockchain technology’s carbon footprint as well as raise awareness about the environmental implications of Times Square advertising.
According to Algorand, turning Times Square down for an hour saves 6,500 kilowatt hours of electricity. According to Warden, that equates to 350 million transactions on the Algorand blockchain.
Algorand’s dedication to sustainability was reaffirmed last year when it partnered with ClimateTrade to become the world’s first carbon-negative blockchain. ClimateTrade is a global leader in CO2 emissions transparency and traceability, and it is employing blockchain-based solutions to help top corporations enhance the efficiency of their sustainability operations. Later today, Algorand will reveal its plans to create the world’s first self-sustaining carbon-negative blockchain.
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