The environmental cost of blockchain technology is often cited as a problem that needs to be tackled before widespread adoption. Proof of Work consensus algorithms, such as those in use by Bitcoin and Ethereum, create an arms race of computing power in order for a miner to be the first to create a new block and so obtain the reward.
Cosmos’ Proof of Stake validation system drastically improves on this by making this competition take place over attracting more delegation of stake from users. Validators are not required to perform deliberately complicated calculations and so can run on relatively low power machines. However, these machines are still required to be online 24/7 and perform calculations to confirm each block as it is generated. This results in a carbon footprint for each blockchain in the Cosmos ecosystem.
Based on feedback from carbon footprint data reported by validators of Regen Network, Agoric is projected to emit at most 4,175 tons a year in carbon, negatively affecting our climate.
CosmosZERO Carbon Footprint Analysis: https://docs.google.com/document/d/1H-w4dBc1Svcmw_fzEKUFRgK_pga1qsGMHCTsUKUmWEA/edit
Proposal: Make Agoric Carbon Neutral by Purchasing and Retiring (95% of Nature Carbon Ton and a 5% of City Forest Credits)
- Voting YES to this proposal indicates approval to address Agoric carbon emissions footprint by purchasing 3,966.25 (USD $11,898.75 at USD $3 a credit) of Nature Carbon Ton and 208.75 (USD $8,350 at USD $40 a credit) of City Forest Credits
- Voting NO to this proposal indicates that this funding should not be allocated.
Based on feedback from carbon footprint data reported by validators of Regen Network, and applying worst case scenario, Agoric is projected to emit at most 4,175 tons a year in carbon, negatively affecting our climate.
This proposal asks for a spend of 67,563.62 $BLD (USD $20,248.75 at current price of USD $0.299) from the Community Pool to purchase and retire carbon credits to offset Agoric 2022 carbon emissions, becoming a carbon neutral blockchain.
This proposal asks for an annual protocol commitment to purchase carbon credits and maintain carbon neutrality over time.
- Agoric ****will purchase 3,966.25 (USD $11,898.75 at USD $3 a credit) of Nature Carbon Ton Nature Carbon Ton on the Osmosis exchange from the NCT:Regen Pool and 208.75 (USD $8,350 at USD $40 a credit) of City Forest Credits on Regen Marketplace.
- Agoric will retire these carbon credits on Regen Ledger to offset Agoric 2022 carbon emissions.