The BreakØuts exist in a delicate ecosystem of arts and collections, exhibition and commerce, technology and logistics. Our ecosystem - and, by the way, yours, too - is wholly dependent on the strategic, sustainable stewardship of our shared energy resources.
Rapid growth in the NFT marketplace - and rational thinking - has elevated the need for reconsideration and re-invention of out-moded processes. Estimates show use of blockchain technology growing by as much as 67% annually for the foreseeable future.
The BreakØuts are dedicated to implementing intelligent, impactful operational decisions to minimize carbon consumption and reduce reliance on mining to support digital functionality. Our emphatic commitment to responsible energy use led to a partnership with Hedera, whose hashgraph network operations, and proven analytics, are raising the bar far beyond other token platforms.
To date, blockchain technology has processed information via two primary modes. Proof of Work is an extremely energy intensive generalized computational method used to confirm and track individual purchases; Proof of Stake improves the verification process by focusing on specific transactions. Both have served a purpose, and the shift from one to the other indicates some progressive evolution, but both are exceedingly, alarmingly, ineffective in achieving an acceptable level of energy use.
That’s pretty bad, yes, but this is pretty good: a third mode of operation, Gossip Protocol, used by the Hedera hashgraph, is a distributed network of contextual and predictive authentication. By living simultaneously nowhere and everywhere, it is up to 600,000 times more efficient than Proof of Stake and 5 million times more efficient than Proof of Work.
Put another way, where a single Proof of Work transaction produces carbon emissions equivalent to a car driving 1,577 miles, Gossip Protocol produces the equivalent of a car traveling 0.0003 miles.
Plus, Hedera scales linearly, meaning increasing transactions processed through the platform results in decreased energy use.
The opportunity, the imperative, to make a sustainable impact has seldom been clearer. Where other decentralized blockchain networks are vestiges of an earlier, less conscious moment of consumption, Hedera has eyes on the current and future state of energy use and is prepared to transform the way the blockchain ecosystem operates.
It’s no small task, it’s no small feat, and with engaged participation, we’ll all celebrate the power of no small impact.