The world’s first carbon-negative blockchain, Algorand, announced on April 22, 2022, that it would install the first smart contract to automate the offsetting of carbon emissions.
א גרויסע אנטוויקלונג
Algorand’s new self-sustaining smart contract will automatically apportion every transaction fee to offset its carbon emissions. The blockchain protocol for all businesses is doubling down on its commitment to the environment, and sustainability has been part of its goal.
Additionally, the Algorand network stands out from other blockchains because it is energy efficient and has never experienced drawbacks. Furthermore, its proof-of-stake consensus mechanism stands out because it requires less power at a cheap rate while delivering effective services and security.
According to Naveed Ihsanullah, Vice President of Engineering Research at Algorand:
“Climate change is among the most pressing issues the world faces today. Efficiency and a minimal energy consumption footprint simply must be table stakes for all enduring future technology.
Algorand, a blockchain leader in this space, is seeing tremendous adoption from eco-conscious brands, creators, and developers, and we’re proud to take another step forward in our commitment to sustainability with the introduction of smart contracts permanently enforcing our carbon offsetting pledge.”
Echoing this sentiment, Algorand tweeted to its followers saying:
Source: https://crypto.news/algorand-first-smart-contract-offset-carbon-emissions/