Top Tech Company Launches Ethereum Climate Platform To Prove Its Carbon Footprint

Top technology companies joined forces to launch. The main goal of this platform is to address the issue of carbon emissions, a key challenge that arose from Ethereum's previous consensus mechanism before the ecosystem underwent a hard fork upgrade. Some of his major Web3 players involved in development include Filecoin Green, Gitcoin, Huobi Global, Laser Digital and Enterprise Ethereum Alliance. Ethereum Climate Platform in action A group of Web3 companies gathered at COP27, the world's largest

The ECP platform addresses the carbon emissions associated with previous consensus mechanisms in the ecosystem of innovative contract platforms. Ethereum started as a PoW ecosystem in July 2015, but later became a proof-of-stake consensus mechanism on September 15, 2022. According to Crypto Carbon Rating Insights (CCRI), PoS as PoW has emitted 99,992 carbon dioxide since its recent launch. Going forward, the Alliance will engage in current scientific climate initiatives that promise to reduce carbon emissions beyond Ethereum's previous pre-merger emissions. How ECP Reduces Carbon Emissions Savings are achieved through the use of Web3's unique innovations, architecture, financial methods and management processes. Additionally, the group agreed to support initiatives that would bring about a large-scale transition to low-carbon energy. ECP also offers new and innovative solutions that require transaction validation to have a visible impact on the environment. These initiatives range from carbon sequestration projects, technologies and natural ecosystems to green hydrogen, carbon-free electricity, heating, cooling and other conveniences. 

The COP27 initiative to tackle Ethereum's past carbon footprint comes from a modern ecosystem that leaves tens of millions of carbon debt behind. With Ethereum gone, the Bitcoin mining ecosystem remains the biggest contributor to carbon emissions in the cryptosphere. A recent study by the Cambridge Center for Alternative Finance (CCFA) shows that Bitcoin mining is causing greenhouse gas emissions.