Net Zero: Telos Blockchain Claims it has Neutralized its Past and Present Carbon Footprint

Telos Blockchain (TLOS) is pleased to announce to the “billion-plus” global citizens that celebrate and embrace Earth Day that they now have a carbon-neutral smart contract option.

Telos with the consulting aid of Plannet Zero, part of RedShaw Advisors Ltd, a carbon risk management and procurement firm, have committed “to purchasing sequestration projects that will negate the emissions of the blockchain’s entire history.”

The offsetting is “being performed in the form of biochar, which sequesters carbon (removes it from the atmosphere permanently), versus buying emission avoidance credits.”

Going Net Zero is “the sweet spot that the Telos core developers have been striving to tap into for some time now.”

Up until now Telos’ energy consumption has been “scaled down via decarbonization to bring the energy consumption down to less than 0.000002 kWh per transaction.”

As noted in an update shared with CI, this “was monumental when compared to Bitcoin‘s 2,258.49 kWh per transaction, Ethereum’s 238.22 kWh per transaction or even Visa’s ~0.00148 kWh per transaction where Telos is still a massive ~740x less.”

As mentioned in the announcement, this was “a great stride, and the team is very proud of this achievement, but it was still short of the goal of becoming environmentally invisible.”

Plannet Zero “worked with Telos to calculate their carbon footprint by conducting an analysis to quantify the Telos blockchain’s energy consumption over the life of the chain.”

This analysis “dated back to the first block ever generated, late 2018.”

Now, Telos is continuing “to work closely with Plannet Zero to validate Telos’ emissions profile and carbon reduction purchases.”

Telos has also already “allocated the funds needed to continue sequestering the equivalent release of carbon by the blockchain into the future.”

The commitment made was “to first neutralize the carbon footprint of the past and then to continue neutralizing the carbon footprint as needed.”

As a result, Telos will now be “a Net Zero Layer 1 blockchain that is still ludicrously fast, inexpensive, not congested, credibly neutral, decentralized, easy to deploy on and free of any front running / MEV.”

AJ Dinger, Telos Head of Business Development, stated:

“dApps now running on the tEVM will be running carbon neutral smart contracts by default. The same neutrality umbrellas over all the end users minting and trading NFTs or coins on the Telos Blockchain. There is something bigger than all of us to be said about this achievement!”

In addition to offsetting the blockchain’s carbon footprint, Telos in conjunction with Plannet Zero, is in “the final stages of meeting all carbon neutral requirements for Scope 1, Scope 2 and operational scope 3 emissions for every aspect of Telos, including Telos Foundation and Telos Core Development staff.”

The carbon offset will be “all encompassing and will be in full compliance with BSI PAS 2060 and will be verified by BSI.”

Live since 2018, Telos Blockchain (Tlos) is “a third-generation smart contract platform that offers compatibility with Solidity, Vyper and Native C++ smart contracts.”

Telos provides “full EVM/Solidity support with fixed low-cost gas fees and no front running.”

Uniquely, Telos also “offers a path to fee-less transactions via its robust native C++ smart contract support.”

Even while operating as a Net Zero Blockchain, the chain “still sustainably support hundreds of millions of transactions per day, produces blocks in 0.5 second intervals (on a first-in-first-out basis, eliminating front running on the network) and securely validates transactions via a credibly neutral and globally decentralized block producer network.”

The Telos Blockchain developers claim (like many other projects) that it has “the throughput needed to facilitate and scale the thriving Metaverse / Web 3.0 better than any other blockchain.”

Telos’ developers further claim that the platform “was purpose-built to offer speed, scalability, cost-effectiveness, credible decentralization, and end-user fairness. ”

Telos, harnesses its power “by utilizing tight C++ on the frontend and a custom WASM runtime environment on the backend.”

As covered, the Telos Foundation has claimed to be “a Decentralized Autonomous Organization established as a promotional and funding body to advance the Telos Blockchain Network and provide support to network applications.”

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