How does Serenade leverage new technologies to minimize its ecological footprint?
Safeguarding the Environment is one of the four pillars in Serenade's Mission. Serenade produces NFTs using 1/100th of the energy required to post a tweet. This comes as a result of our use of a blockchain called Polygon, that uses a 'Proof of Stake' authentication method. Coupled with Ethereum's recent leap forward in environmental sustainability, the carbon footprint on a Serenade Digital Pressing is mind-bogglingly small.
To put it in context:
You would need to create 7,860,356 Serenade Digital Pressings to have the same carbon footprint of a single, eco-friendly T-Shirt.
For something a little closer to home - you'd need well over a million to equal the same CO2 emissions of a single 12 inch vinyl (not to mention the saved plastic waste on top of that)!
How does 'Proof of Stake' work?
'Proof of Stake' reduces both barriers to entry and hardware requirements to creating new energy mining block, as well as far better energy efficiency than 'Proof of Work'.
Instead of being in a competition for energy usage, 'miners' simply stake their own crypto-currency. The blockchain we use can facilitate over 7,000 transactions per second compared to Ethereum's 15 per second, meaning that the energy required for validation is spread out amongst many orders of magnitude more NFTs.
Artists and fans can work and live on Serenade knowing their environmental impact is minimized through utilising these technologies.
For more information on what makes operating on Polygon eco-friendly, please read the following article published by Polygon themselves: