Tezos, a privacy-focused blockchain network, released its carbon footprint written 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.

The PwC report highlighted a pregnant turn down in carbon emission by Tezos network despite a ascent in network action. The Tezos blockchain accounted for 50 million transactions while, according to the report, the whole network constituted an energy footprint of 17 world citizens.

The energy efficiency for each transaction on the network increased by lxx% while the estimated electricity requirement per transaction was 30% lower than in 2022.

"As more brands and companies factor free energy consumption into concern decisions, an energy-efficient blockchain like Tezos is well poised to encounter their needs and evangelize efficient, secure and reliable operations," said Reid Yager, global director of communications at Blokhaus, a marketing firm associated with Tezos.

The annual energy consumption of the Tezos network is estimated to be at 0.001 Terawatt hours (TWh), which is negligible when compared to the likes of Bitcoin (BTC) at 130 TWh and Ethereum (ETH) at 26 TWh. Tezos consumes nearly 2.five one thousand CO2 equivalent per transaction

Related: French retail giant will launch Tezos-based stablecoin

Tezos has also seen some development in terms of network activity and new partnerships across the Decentralized finance and Non-Fungible Token (NFT) market. It has been selected by Cherry Balderdash Racing, Honda, and McLaren Racing as their NFT launch platform. It was also awarded as the blockchain of choice by Art Basel Miami Beach for its ecosystem exhibition.

Proof-of-stake (PoS) based blockchain networks take made pregnant strides toward fulfilling the ESG goals particularly later on the recent market FUD around Bitcoin network free energy consumption.