Cardano’s sustainable initiative has planted more than a million trees – DiarioBitcoin

For Hannah perez

Cardano Forest”Is Cardano’s reforestation initiative in partnership with Veritree, which plants a tree for each ADA exchanged for a TREE token.

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The blockchain project Cardano You have reached the first goal of your sustainability initiative.

The reforestation effort Cardano Forest“, based on Cardano and its native cryptocurrency ADA, has met its first goal of planting a million trees. The Cardano Foundation, an organization that oversees the network’s developments and seeks to drive its adoption, announced the news on Monday.

What an achievement! The #CardanoForest is 100% funded, we have reached the 1 million tree milestone. The success of this first Cardano Global Impact Challenge for the Cardano Ecosystem truly demonstrates the power of our community.Wrote the organization’s CEO, Frederik Gregaard, in a tweet.

More than a million trees planted

The Cardano Foundation partnered with climate solutions startup Veritree to carry out the reforestation effort. Veritree use technology Blockchain to verify and monitor the tree planting process, which provides transparency about the activities to its users.

The sustainable initiative of Cardano is based on the exchange between tokens ADA and TREE. As such, every time a user swaps ADA for TREE, the platform Veritree plant a tree. Cryptocurrency can also be used to acquire digital trees and tokens non-expendable (NFT) designed by the artists working with the project. Sustainable-inspired digital art series will be released throughout 2022. Meanwhile, the rarity of each NFT issued will be based on the initial amount of ADA exchanged.

According to the official website of the project, 1,001,000 trees have been planted, representing more than one million ADA tokens exchanged by TREES. The figure suggests that the effort of Cardano it has attracted the attention of a significant number of donors.

Blockchain data shows that there have been significant donations, the largest being a 100,000 ADA transaction (equivalent to 100 TREE or $ 111,000 at press time). Other large donors exchanged amounts ranging from 5,000 to 87,500 ADA, or USD $ 5,550 and USD $ 97,125, respectively at current prices.

Although the official page does not detail where the reforestation project has been carried out, the CEO of the Cardano Foundation indicated that the operation is being deployed in Africa. Gregaard said about it in a tweet:

CardanoForest will support land restoration and local ecosystem development activities in Mombasa, Kenya.

Another Cardano effort in Africa

The reforestation initiative of Cardano is part of a broader effort by the platform to become a climate-positive blockchain. CoinDesk.

Some networks Blockchain, especially those with a proof-of-work (PoW) mechanism, have come under fire for their alleged climate impact. In particular, critics have emphasized the carbon footprint of mining Bitcoin, a process that consists of solving complex mathematical calculations by specialized teams and that requires high energy consumption.

However, given these criticisms, other platforms claim lower energy consumption. For example networks like Terra, Cosmos Y Cardano, which are based on proof of stake (PoS) mechanisms and whose mining does not require specialized equipment with high computing power, claim to be more environmentally friendly alternatives for the environment.

The latest goal of Cardano within its environmental initiative occurs shortly after Samsung announce a partnership with Veritree that brings exposure to the electronics giant to Cardano. The agreement between Samsung Y Veritree, partner of Cardano, includes a commitment to plant two million trees in Madagascar during the first quarter of 2022.

This is not the first project of Cardano in an African country. As reported Daily bitcoin, the blockchain platform has led various efforts in the region aimed at deploying technology solutions for users from nations in Africa; including an agreement with Ethiopia to bring a decentralized identity system to more than five million students in that country.


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Article versioned by Hannah Estefanía Pérez / Daily bitcoin

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Cardano’s sustainable initiative has planted more than a million trees – DiarioBitcoin

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