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Furthermore, its commitment to environmental sustainability is noteworthy; Algorand proudly claims a carbon negative status since 2022. The blockchain uses a proof of stake model, enhancing energy efficiency, requiring energy levels comparable to charging a single Tesla vehicle to power the entire network.
The system is capable of handling 10,000 transactions per second with a track record of zero failed transactions—a remarkable feat since its launch in 2019. With over 2.3 billion transactions processed and no downtime, Algorand is a strong player in the blockchain ecosystem.