Algorand Pledges to be the Greenest Blockchain with a Carbon-Negative Network
In celebration of Earth Day, Algorand pledges to be the greenest blockchain with news that the network is carbon-negative. With highly energy-efficient network with ClimateTrade and Algorand Foundation to set the industry standard for blockchain sustainability.
ClimateTrade provides a marketplace where users can directly offset their carbon footprint by selecting the most suitable carbon credits from the ones available, and earning the official certificate
To achieve a carbon-negative network, Algorand and ClimateTrade will implement a sustainability oracle which will notarize Algorand’s carbon footprint on-chain for each epoch (a set amount of blocks). With its advanced smart contracts, Algorand will then lock the equivalent amount of carbon credit as an ASA (Algorand Standard Asset) into a green treasury so that its protocol keeps running as carbon-negative.
About Climatetrade:
Climatetrade is a Spanish fintech whose main objective is to help companies achieve their sustainability goals by offsetting CO2 emissions and financing climate change projects.Pioneering the development of its blockchain marketplace, Climatetrade has recently launched an API that allows the acquisition of carbon neutral products and services from customers of the different companies integrating this solution
About Algorand:
Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure.
About The Algorand Foundation:
The Algorand Foundation is a not-for-profit organization that has a vision of a borderless, frictionless economy built on public, decentralized blockchain technology
INFO:
https://www.algorand.com/resources/news/carbon_negative_announcement
