The current edition of the Climate Summit (COP 27) presented news in the cryptocurrency scenario, more specifically with ethereumas a consortium of companies launched the Climate Platform for Ethereum 🇧🇷Ethereum Climate Platform or ECP).

Among the features and/or benefits associated with this platform, the following can be highlighted:

  • The conglomerate of companies behind these projects is composed of: ConsenSys (main name), Allinfra, Microsoft, Aave, Artblocks, Gitcoin, Filecoin Green, Huobi, The Global Blockchain Business Council and etc;
  • The ECP must mitigate the excess energy produced before the The Mergewhich in turn contributed to a reduction of more than 99% in electricity demand by a protocol change, which changed from proof of work to proof of stake;
  • Instead of offsetting carbon credits, this new initiative will fund the development of “climate projects that can significantly mitigate emissions and achieve decarbonization at scale”;
  • The update of The Merge has considerably reduced power consumption across the network, but industry insiders agree that this will not overcome the scalability paradox of the network. ethereum🇧🇷

The 27th edition of the Conference of the Parties (COP 27) is an event organized by the United Nations, based in Egypt, which will take place between November 6th and 18th. The agendas revolve around climate change and how countries can reduce their emissions, for example.

Source: Forkast

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