Ripple Transactions Will Increase 1,000% by 2025
Ripple is one of the companies committed to building a sustainable infrastructure for cross-border transactions for a long time. In fact, sustainable measures to reduce CO2 emissions in all global economic sectors could save an estimated $26 trillion by 2030. Due to the sustainable architecture of the XRP Ledger, researchers predict a sharp increase in the usage of XRP.
XRP is up to 61,000 times more energy-efficient than Bitcoin
Bitcoin’s energy consumption rose to an annual consumption equivalent to that of Portugal in 2019. This makes XRP 61,000 times more energy-efficient than BTC. If the execution of one million XRP transactions occurred, it would supply 79,000 light bulbs with electricity for more than a year. It would take more than 4.51 billion light bulbs with electricity for one year for every million transactions in BTC’s case.
Hence, Ripple is pushing the sustainable orientation of the XRP ledger. Moreover, they have proven successful compared to other major cryptocurrencies. As the company announces in a new report, Ripple has committed to reaching a net-zero carbon target by 2030. Ripple is working with the XRP Ledger Foundation, Energy Web, and the Rocky Mountain Institute to achieve this goal.
Using the open-source tool EW Zero, the XRP Ledger expects to reduce its carbon consumption step by step. According to the new report, independent researchers predict XRP transactions to increase up to 1,000% by 2025. That is due to the “green architecture” (low power consumption):
Since independent researchers suggest that XRP transactions could grow more than 1000% by 2025, this has massive implications for energy savings and reducing blockchain-powered finance’s carbon footprint.
This evolution is mainly due to the growing environmental awareness of companies and the population. For example, BlackRock, the world’s largest asset manager, also supports its companies in investing sustainably. It also backs developing sustainable products and discussing climate-related risks with companies.
Ripple has also joined the Climate Finance Center initiative, launched by the Rocky Mountain Institute. This conglomerate is committed to bringing together the world’s largest financial service providers to shape a sustainable, low-carbon economy and society. New financial technologies, such as blockchain, can make a decisive contribution to having a long-term positive impact on the climate.