Tezos Blockchain Network (XTZ) Called More Environmentally Friendly, XTZ Crypto Prices Soar

JAKARTA – The price of crypto Tezos (XTZ) suddenly rose. The increase was driven by an announcement from PricewaterhouseCoopers Advisory SAS (PwC) which stated that Tezos was more environmentally friendly.

The positive announcement from PwC reflects the increased efficiency in energy consumption used by Tezos, including reducing its carbon footprint and lower energy.

The report from PricewaterhouseCoopers further highlights the reduction in carbon emissions in the Tezos blockchain network amid increasing network activity. The Tezos blockchain reportedly accounts for 50 million transactions while on its network.

Now the energy efficiency for each transaction in the Tezos network has increased by 70 percent, while the estimated electricity demand per transaction is 30 percent lower than in 2020. For information, Tezos is a blockchain network that focuses on user privacy.

“As more brands and companies are taking energy consumption into account in their business decisions, energy-efficient blockchains like Tezos are ready to meet their needs and provide efficient, secure, and reliable operations,” said Reid Yager, director of global communications at Blokhaus and marketing company. associated with Tezos.

Cointelegraph reports that the Tezos network's annual energy consumption is estimated at 0.001 Terawatt hours (TWh), which is negligible when compared to Bitcoin (BTC) at 130 TWh and Ethereum (ETH) at 26 TWh. Tezos consumes almost 2.5 g of CO2 equivalent per transaction.

Tezos itself is observing developments in various network activities and new partnerships across decentralized financial markets (DeFi) and Non-Fungible Tokens (NFT). Tezos managed to attract the attention of a number of parties such as Red Bull Racing, McLaren Racing, and Honda as their NFT launch platform.

Blockchain Tezos won the blockchain title of choice from Art Basel Miami Beach for its ecosystem exhibition. Tezos using the Proof of Stake (PoS) consensus has made strides forward in energy consumption as part of reducing its carbon footprint.

At the time of writing, the price of crypto Tezos (XTZ) was trading at the level of Rp78,742. The price of XTZ has increased by 28.5 percent in the last 24 hours as data reports from Coingecko.