The CNBC article discusses efforts by innovators, including MIT professor Silvio Micali and his team at Algorand, to develop more energy-efficient blockchain technologies to address the high energy consumption associated with traditional blockchain systems like Bitcoin. Algorand stands out for its use of a version of the proof-of-stake algorithm, which nearly eliminates electricity consumption while maintaining the ability to process thousands of transactions per second. This efficiency reduces transaction costs and positions Algorand as a sustainable alternative in the race to develop scalable, business-friendly blockchain solutions.
