Velas’ Takes Critical Step in the Fight Against Climate Change With New Carbon Reduction Innovation – Crypto Trendings
Tuesday, May 20, 2025
Crypto Trendings
  • HOME
  • News
  • Bitcoin
  • Altcoins
  • Business
  • Tech
  • Industry
  • Interviews
  • Press Release
No Result
View All Result
Crypto Trendings

Velas’ Takes Critical Step in the Fight Against Climate Change With New Carbon Reduction Innovation

Crypto Trendings by Crypto Trendings
October 4, 2022
in Press Release
Reading Time: 4min read
Velas’ Takes Critical Step in the Fight Against Climate Change With New Carbon Reduction Innovation

Related posts

Alaxio Revolutionizes DeFi with AI-Powered Portfolio Optimization and Layer-2 Speed

Alaxio Revolutionizes DeFi with AI-Powered Portfolio Optimization and Layer-2 Speed

May 20, 2025
$UR Token Explained: The Engine Behind URSWAP’s Cross-Chain Ecosystem

$UR Token Explained: The Engine Behind URSWAP’s Cross-Chain Ecosystem

May 20, 2025

A major change to the way that Velas processes up to 75,000 transactions every second is set to radically reduce energy consumption, benefiting people, businesses, and the planet.

October 3, 2022, Leading blockchain protocol Velas today announced an important step on its journey to net zero carbon. This is part of the company’s commitment to tackling the challenge of climate change.

The announcement signals a move to a new innovative model that changes the way that transactions are processed across its industry-leading blockchain protocol. Effectively, this shifts from a highly energy-intensive ‘Proof of Work’ model to a much more energy-efficient approach that combines ‘Delegated Proof-of-Stake (DPoS)’ with ‘Proof-of-History (PoH)’.

Whilst the technicalities of this shift may not be widely understood outside of the sector, the impact of these changes will ultimately matter to everyone. This is because they will deliver a reduction in energy usage across the blockchain that will eliminate the carbon emissions generated by the protocol.

Today’s announcement is just the latest move from the blockchain protocol in its efforts to develop new ways of working that maintain transaction speeds at scale, whilst reducing the impact on the environment. It represents a significant shift that will lead to a more sustainable infrastructure that benefits businesses, communities, and the wider planet.

Today’s announcement is not the first time that Velas’s net zero approach has been in the spotlight. It builds on recent certification that confirmed that Velas has achieved carbon neutrality by offsetting the carbon produced

since it was founded. ‘Climate+ Certification’ was recently awarded by Gold Standard, a Swiss organization specializing in assessing the progress that businesses are making on climate change against a range of measurements.

However, the shift to DpoS transactions announced today goes much further. It represents a major shift from offsetting carbon emissions to developing new operating mechanisms that are more energy efficient in themselves.

This is an important step in a wider ongoing challenge the crypto industry faces to reduce energy use and associated carbon emissions. Bitcoin production alone is estimated to generate between 22-22.9 million metric tons of carbon dioxide emissions a year- equivalent to an astonishing 1 percent of global electricity consumption.

Today’s announcement shows how industry leaders like Velas are proactively working to improve sector sustainability, with new mechanisms that not only maintain transaction speeds and security but also reduce carbon emissions to safeguard the needs of future generations.

Farkhad Shagulyamov, Co-Founder and CEO at Velas

“Blockchain is an increasingly important part of how the world does business. As this technology moves further into the mainstream, we need to find new ways of working that reduce the damaging impact on the environment. As one of the sector’s leading businesses, we recognize the responsibility that we have to innovate new approaches that show this technology can be good for businesses, good for people, and good for the planet. Today’s announcement is an important step towards that goal.”

Timur Kemel, Head of the Advisory Board at Velas

“At Velas, we believe blockchain is a positive social and economic force that can improve the lives of people around the world. However, that means that we must always strive to improve blockchain to reduce the impact that it has on the environment. As a carbon-neutral business, Velas is clear that blockchain can shift from being part of the climate change problem to being part of the climate change solution. Our new approach slashes the amount of energy that is used for transactions. That ultimately benefits us all.”

Notes to Editors

About VELAS

“Velas” is a trading name used for the Velas blockchain protocol, the ecosystem of related software products and legal entities engaged therein.

Velas is currently the fastest blockchain with Ethereum VM compatibility and was founded in 2019 in Zug, Switzerland.

Velas is also one of the most efficient blockchain networks for secure, interoperable, extremely scalable transactions and smart contracts that is integrating world-changing technology products and services to improve people’s lives all over the globe.

Velas is creating an innovative environment for decentralized applications, social platforms, open finance, access management solutions, Web 3.0 DeFi apps, micro-apps, and more.

Providing up to 75,000 transactions per second with extremely low fees, Velas is one of the most efficient blockchain networks available. Being an ecosystem using a wide range of decentralized products and services, the main goal of Velas is to bring blockchain technology to all types of users, from micro-startups to enterprise divisions while undergoing active efforts of being certified as a Climate Neutral blockchain and aiming to being a fully distributed Space network by 2025.

Media Contact
Company Name: Velas
Contact Person: Dan Zaitsev, Shirly Valge
Website: https://velas.com/
Email: [email protected]
Telegram: https://t.me/velascommunity
Twitter: https://twitter.com/VelasBlockchain
LinkedIn: https://www.linkedin.com/company/velas-ag/

Previous Post

Listing Announcement: Dynex [DNX]

Next Post

Gear up for the Launch of Upstairs, an NFT Marketplace Offering the Best User Experience

Next Post
Gear up for the Launch of Upstairs, an NFT Marketplace Offering the Best User Experience

Gear up for the Launch of Upstairs, an NFT Marketplace Offering the Best User Experience

RECOMMENDED NEWS

LESLIE – Ethereum’s Official Mascot

LESLIE – Ethereum’s Official Mascot

6 months ago
STOA

DeFi STOA’s Decisions to revise its global asset allocation strategy

4 years ago
Bitcoin Arbitrage Software CradeMaster Launches Upgraded Version

Bitcoin Arbitrage Software CradeMaster Launches Upgraded Version

4 months ago
Announcing the  World’s First Blockchain-based Auction House ~ BiG Deal ~

Announcing the World’s First Blockchain-based Auction House ~ BiG Deal ~

3 years ago

BROWSE BY CATEGORIES

  • Altcoins
  • Bitcoin
  • Business
  • Industry
  • News
  • Press Release
  • Tech

BROWSE BY TOPICS

Altcoins Bitcoin Business Industry News Press Release Tech

POPULAR NEWS

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
Crypto Trendings

We bring you the latest news in the crypto and finance industry. We envision the goal of completely decentralised future.

Reach us at:

[email protected]

BITCOIN NEWS

Expert Reveals “Best Bets” Against Impending Economic Collapse

Expert Reveals “Best Bets” Against Impending Economic Collapse

July 28, 2022
Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

Meta A Bigger Threat For Crypto Crash Than The Fed, Here’s Why

July 27, 2022
Why UST’s crash has experts talking and taking different sides

Why UST’s crash has experts talking and taking different sides

May 16, 2022

ALTCOIN NEWS

Ethereum price faces resistance at $650, can ETH break above?

Ethereum price faces resistance at $650, can ETH break above?

December 21, 2020
New withdrawal mechanism for ETH2 stakes ‘under discussion’

New withdrawal mechanism for ETH2 stakes ‘under discussion’

December 15, 2020
Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

Ethereum King Buterin Loses Live Showdown to Twitch Chess Queen

December 16, 2020
May 2025
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Apr    
  • About
  • Advertise
  • Careers
  • Contact

© 2020 Crypto Trendings

No Result
View All Result
  • Home
  • Industry
  • News
  • Business
  • Bitcoin
  • Interviews
  • Tech
  • Altcoins

© 2020 Crypto Trendings