Polygon wants to become a green side chain
The Polygon (MATIC) second layer solution has just unveiled its ” Green poster where we learn it sidechain aims for total carbon neutrality by the end of 2022.
Subtitle ” A smart contract with the planet Earth », The manifesto announces that Polygon will already do it release $ 20 million for community initiatives including projects that use technology to combat climate change.
The polygon will spend $ 400,000 from this carbon credit fund through BCT and MCO2 tokens (tokens that allow the tokenization of carbon credit), which represent approximately 90,000 tons of CO emissions2. Then, the sidechain will withdraw the required amount of tokens from “carbon tokens” pools on a prorated basis, which meet the highest environmental standards, according to the press release.
“This means that every transaction – an NFT minted by an artist, a DeFi transaction that financially empowers people, a token linked to a construction project on our network – is accounted for and its environmental impact is offset. When this goal is achieved, Polygon will strive to become the first blockchain to have a negative carbon footprint. “
In fact, Polygon is a side chain of the Ethereum (ETH) blockchain, which must transmit Proof-of-Stake consent (PoS) to solve its scalability problems, but also to do it significantly reduce the energy consumption of the network. Once the transition is complete, Polygon will be able to do this propose a negative carbon footprint. In fact, 99% of its emissions are due to interactions with Ethereum.
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Partnerships already started
To carry out its mission, Polygon will collaborate with KlimaDAOa protocol that allows in particular to purchase KLIMA tokens and stake them to offset the carbon emissions of a part of decentralized finance (DeFi).
Last March, KlimaDAO had collaborated with Offsetra to measure the total carbon footprint of the Polygon network as accurately as possible, but above all to analyze the key points to improve, in particular the connection points with the Ethereum blockchain like bridges.
According to his press release, Polygon would have emitted more than 90,000 tons of CO2 in the period from February 2021 to February 2022the equivalent of 210,000 barrels of oil or 60,400 flights from London to New York, which puts it far behind Deloitte or Microsoft, but ahead of PayPal, by way of comparison.
Finally, in order to encourage greener development, Polygon announces that it will provide the necessary resources for projects in its ecosystem who wish to make an effort for minimize their carbon footprint. Also, the side chain plans to do this donate to NGOs engaged in the fight against climate change.
This is a welcome initiative, like the topic of carbon emissions emitted by the blockchain world shows up often, even though Bitcoin (BTC) mining would only account for 0.08% of global carbon emissions.
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Sources: Polygon, KlimaDAO
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