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Rally and the Environment
Q. I have read/heard cryptocurrencies and NFTs are bad for the environment. How does the Rally.io product reduce environmental impact?
tldr; Rally doesn’t have or require millions of computers to maintain our network (like Bitcoin or ETH do). There’s only a few servers that hold and process the data.
A. First, let’s simplify cryptocurrencies and NFTs into one bucket called “crypto transactions.” Crypto transactions cover buying, selling, and sending cryptocurrencies and NFTs.
When people mention the extraordinary energy related to crypto transactions, they are referring to the millions of computers/servers/nodes that are running 24x7x365 to complete crypto transactions. Bitcoin for example requires millions of computers competing to solve very complex math problems, which requires a great deal of processing power, thus requiring a lot of energy. In other networks like Ethereum, millions of always-on computers are competing to service transactions. You can think of these as being similar to having millions of taxis/rideshares across New York, Los Angeles, and London always running and waiting for passengers.
In these two examples, Bitcoin and Ethereum are vast open networks where millions upon millions of computers are running/working all the time competing to complete transactions that require significant amounts of computing power to process. These networks can only operate when these millions of computers are working for them.
At Rally, we do not require or run an open network, which means we need only a handful of computers in a private configuration to complete our transactions. This means there is no solving of complex math problems or needing computers outside of these few in our network to compete for our transactions. The tradeoff here is centralization. While Rally is decentralized at the network level ($RLY), individual creator coins on Rally do not rely on a distributed group of computers to process or service transactions. We believe that creators and their fans are willing to make this tradeoff for an environmentally friendly, regulatory compliant, simple and easy experience.
As for the content hosting for our website and NFT files, we use common cloud services like Amazon Web Services to host our content similar to ecommerce websites such as Pinterest, Reddit, and Yelp.
Last modified 11d ago
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