Enjin, a gaming platform powered by blockchain technology and template-free tokens, has taken steps to decarbonize its footprint by joining the Crypto Climate Accord, a move that instills confidence in the industry’s growing environmental need.
The crypto climate agreement is backed by 20 blockchain, financial technology and green technology companies. Inspired by the Paris Climate Agreement, signed in 195, the agreement was created in April to address the “significant and growing energy consumption of cryptocurrencies and blockchains, and the impact of their energy consumption on the climate.”
Enjin claims the JumpNet blockchain has already received carbon-negative status nine years ahead of schedule. In March, the company said it plans to include carbon-free gases by 2030.
“The creation of new technologies should never cost the environment,” said Maxim Blagov, CEO of Enjin. JumpNet’s carbon neutrality is an important step towards our vision of a sustainable NFT ecosystem for Enjin and our partners.
In addition to decarbonizing newly created tokens, Enjin’s sustainability plan includes supporting the tokenization of the physical economy and the decarbonization of existing digital assets. Other measures include modernizing carbon plants and improving carbon reduction technologies.
Environmental concerns have already changed the history of bitcoin this year, and the likes of Elon Musk have cast a shadow over carbon-intensive mining. Tesla’s boss briefly adopted Bitcoin earlier this year before deciding that Bitcoin payments were no longer acceptable due to environmental risk. He now states that his company is ready to accept payments in virtual currency, provided there is more evidence of the sustainability of mining.
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There are also other efforts underway to ensure the environmental sustainability of cryptocurrencies. According to Cointelegraph, Gemini bought carbon credits from Tyler and Cameron Winklevoss to reduce Bitcoin’s carbon footprint. In addition, US mining company Stronghold Digital Miner recently announced that it will raise $ 105 million to use coal to mine cryptocurrency.