Skip to main content

Polygon achieves CO₂ neutrality

 


Polygon claims to be completely green: In partnership with the KlimaDAO , the Polygon ecosystem retired $400,000 in carbon credits to offset greenhouse gases.


As an Ethereum scaling platform, Polygon connects millions of users to the Web3. In a press release, Polygon announced yesterday that the network had achieved carbon neutrality.


This milestone on the path to a negative carbon footprint was achieved through the permanent retirement of $400,000 worth of carbon credits. This offsets around 104,794 tonnes of greenhouse gases. This amount of gas has been emitted since the beginning of the Polygon blockchain.


Polygon published the Green Manifesto in April . The platform pledged $20 million to Web3 Initiatives to develop new on-chain carbon offsetting solutions.


“Blockchain technology makes emissions trading incredibly powerful. CO₂ certificates can be decommissioned in any quantity with full transparency. Businesses can purchase credits, view real-time market data and accelerate the delivery of finance for carbon-impact projects around the world. By offsetting the historical emissions of the entire network, Polygon ensures that every transaction is accounted for and the respective environmental impact is offset. It doesn’t matter whether it’s DeFi trading or NFT mining .”


Polygon and KlimaDAO

Polygon achieved the goal of climate neutrality by working with the KlimaDAO. “KlimaDAO is a decentralized collective of environmentalists, developers and entrepreneurs. The project is widely recognized as a pioneer in the emerging on-chain emissions market. KlimaDAO brings transparency and accessibility to the otherwise opaque credit markets.”


KlimaDAO and Offsetra analyzed the energy balance of the Polygon network. “The analysis included the emissions from the staking node hardware, the energy consumption of the staking operations, and the contracts interacting directly with the Ethereum mainnet. Polygon also works with the Crypto Carbon Ratings Institute (CCRI) to monitor its carbon footprint. The platform bought $400,000 worth of tokenized certificates in the on-chain emissions market and retired them using the KlimaDAO aggregator tool. All BTC and MCO2 tokenized certificates were created from Verified Carbon Standard verified offsets.”


Polygon is also working together with KlimaDAO on other projects:


The Bull Run Forest Conservation project in Belize to protect pine forests

The Ghani Solar Power Project: a 500-megawatt renewable power generation project in India

A wind power project in Jaibhim, India

The Moss.Earth project to fund conservation in the Amazon through the MCO2 token

CO₂ neutrality in the blockchain industry

Sandeep Nailwal is Polygon co-founder: “Our world is facing an environmental crisis and the blockchain industry needs to do more than just promise not to aggravate the problems further. Achieving carbon neutrality is a first step, but we still have a lot of work to do. Polygon will lead the way and lead the entire industry to a positive environmental footprint.”


Polygon is hosting the Green Blockchain Summit on July 13, a virtual forum for Web3 pioneers to solve blockchain industry problems.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action taken by the reader based on the information found on our website is entirely at their own risk.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...