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Energy Efficient NFT

James Huang | 2022.03.30

At Mercury, we strive to make NFTs accessible and relevant to everyone. To us, that means not only building a tool for everyone to express their fandom, but also making intentional choices to leave a positive impact on the larger community around us.

We therefore provide an alternative to mainstream least energy efficient approach. NFT white label Private Chain (NPC).
NPC is an Ethereum sidechain, enabling it to be connected to one of the most popular decentralized networks. Ethereum runs on a “Proof of Work” model, meaning it uses a network of computers, or nodes, to reach consensus and execute complicated, oftentimes energy-intensive puzzles to verify transactions. As an Ethereum sidechain (meaning a blockchain that operates independently and in parallel to Ethereum Mainnet) NPC provides access to the Ethereum network to easily transfer assets back and forth with nearly zero carbon footprint by “prioritizing a method of consensus that is designed to prioritize sustainability, speed and incredibly low transaction fees. With the Proof of Stake approach, the energy used is 99.99% less.

Buying and selling NFTs requires “gas”. Gas is the term used to refer to the fee required to successfully execute a contract, or make a sale, on various blockchains. Because Ethereum, NPC and other blockchains are decentralized, open-source networks, gas fees support the computer processing and the individuals (called “miners”) who keep the system working properly.
Think of Ethereum like a highway and contracts are like cars: When there are a lot of cars on the highway, it takes longer to get everyone where they’re going and burns more fuel getting them there. The same goes for buying and selling NFTs. When there is more demand for ETH (the currency of the Ethereum blockchain) or when a large number of contracts need to be executed, gas prices will usually increase to ensure contracts are executed correctly and not ignored by miners. High gas fees can be frustrating for NFT buyers and sellers as they can inflate the total cost of your NFT purchase and can sometimes be more expensive than the NFT itself.
We effectively eliminates that frustration by maximizing and prioritizing energy efficiency when executing contracts. It’s a network that offers low gas costs, fast transactions, and a 99.99%+ reduction in energy consumption. In fact, The carbon footprint of one transaction on NPC is equal to sending 3 emails. Additionally, there are no fees for the user on NPC and gas fees.

We are not the only company build in such approach. Polygon Technology (Top 10 market cap in Crypto world) utilise the same technical model but in different commercial approach. At Mercury, we provide true freedom for our client to own their Chain.

Energy Efficient NFT
MERCURY TECHNOLOGY SOLUTION, James Huang 30 March, 2022
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