Cryptocurrency analyst Aaron Arnold has recently discussed the altcoin, Tezos, as possessing massive potential.
He believes Tezos (XTZ), a layer-one smart contract blockchain, has a very exciting future ahead. Tezos was just selected by video game giant Ubisoft as the blockchain platform to launch its new in-game non-fungible tokens (NFTs).
Ubisoft is the publisher of games such as Assassin’s Creed, Tom Clancy’s Rainbow Six Siege, Far Cry, Just Dance and Prince of Persia. The company says it’s planning to build a “true metaverse” and chose Tezos to help overcome “blockchain’s early-form limitations for gaming, including scalability and crypto energy consumption.”
According to Arnold,
“Now the gaming giant will actually implement NFTs within one of its major franchises in a new initiative that runs on Tezos. This is huge for adoption and a big win for Tezos.”
Tezos is trading at $5.26 at time of writing.
What Exactly is Tezos ?
Tezos, a privacy-focused blockchain network, released its carbon footprint report from PricewaterhouseCoopers Advisory SAS, a French member firm of the PwC network.
The PwC report reflects drastic improvements in energy efficiency for Tezos both in terms of reduced carbon footprint and lowers energy consumption.
Despite increased network activity, a PwC report revealed a significant reduction in carbon emissions by the Tezos network. According to the report, the Tezos blockchain accounted for 50 million transactions and was equivalent to the energy footprint of 17 citizens of the world.
The energy efficiency for each transaction on the network increased by 70% while the estimated electricity requirement per transaction was 30% lower than in 2020.
“As more brands and companies factor energy consumption into business decisions, an energy-efficient blockchain like Tezos is well poised to meet their needs and deliver efficient, secure and reliable operations,” said Reid Yager, global director of communications at Blokhaus, a marketing firm associated with Tezos.
Tezos’ Energy Consumption
Tezos’ 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. Per transaction, Tezos emits about 2.5 grams of CO2 equivalent
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