Carbon.Credit Exchange Mints Clean Bitcoin Offset As Ordinal NFT
Mar 27, 2023
Since its launch, Carbon.Credit has seen a massive response in the community.
San Juan, Puerto Rico - March 27, 2023 /MarketersMEDIA/ —
Carbon.Credit, an innovative exchange for carbon credit and renewable energy credits, has announced that it has successfully minted a clean bitcoin renewable energy offset which can be traded and transferred on the bitcoin network as an Ordinal NFT. The new product called Clean Bitcoin (CBTC) will be available for trading on the exchange.
Bitcoin mining has been controversial due to its increasingly large energy footprint. It currently takes between 300 and 400 MWh of electricity to mine a single bitcoin as a blockchain reward using the bitcoin proof of work protocol. This energy requirement stabilizes the underlying value of bitcoin and protects it from attack. However, people concerned about the impact on climate have lobbied for miners to use renewable energy, and investors to offset their bitcoin with renewable energy credits.
“After listening to feedback from miners, energy producers, bitcoin investors, and other stakeholders, we believe we have the solution that will address the needs of market participants,” said Chris Mack, Founder of Carbon.Credit.
CBTC Tokens minted are backed by renewable energy credits based on the Cambridge Bitcoin Electricity Consumption Index (CECI). Owners will be able to identify the renewable energy credits (measured in MWh) that back the token. CBTC tokens are minted as Bitcoin Ordinal NFTs so that only the bitcoin network is needed. CBTC tokens contain metadata that includes quantity denomination to support large quantities efficiently. The metadata is persisted to IPFS to reduce block size usage on the bitcoin network and optimize energy efficiency.
The entire bitcoin network is estimated to consume 121 TWh annually. Clean bitcoin could mitigate the environmental impact of the network.
To learn more, visit: https://carbon.credit or send an email to [email protected]
About Carbon.Credit:
Carbon.Credit Is A Primary Marketplace and Advanced Secondary Market Exchange For Carbon Credits And Energy Credits. It helps developers of carbon sequestration and renewable energy projects by enabling the development, capitalization, funding, and improvements of carbon related assets.
Contact Info:
Name: Adam Strongman
Email: Send Email
Organization: Carbon.Credit
Website: https://carbon.credit
Release ID: 89092544
If you detect any issues, problems, or errors in this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 8 hours.
More News
Private Medicare Plans Are Raising Costs And Forcing Millions To Find New Insurance
As enrollment for Medicare Advantage begins this month, older Americans are confronting fewer options because insurers are discontinuing coverage in many areas.
Trump wants to reduce the cost of fuel as the midterms loom - will it work?
The price of fuel has soared as the cost of living emerges as a key issue for millions of Americans.
Target Says It’s Not Working With ICE Amid Uproar Over Parking Lot Use
The retailer came under attack for being a staging area for immigration officers after Thursday’s shooting in New York City.
China and Europe Step Back From Trade War With Limits on Chinese Car Exports
The European Union said the deal could roughly halve shipments of hybrid vehicles from China in the next four years. But it also could lead to an even stronger Chinese auto industry.
How Correspondent Banking Can Enable Sanctions Evasion
The correspondent system for banking has enabled globalism — and has been exploited by companies trying to skirt U.S. sanctions.
Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections
The $500 checks are accompanied by a letter signed by the president that criticizes the Biden administration for overcharging Americans for health insurance.
Burnham promises to curb non-compete rules in job contracts
The prime minister says restrictions on what workers can do after leaving roles have "gone too far".
Whistle-Blower Says I.R.S. Leaked His Tax Records in Retaliation
Brian J. Visalli, a veteran investigator of tax fraud, said in a lawsuit that the agency had sent his personal and tax information to federal prosecutors.
Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned
The Court of Appeal quashes the conviction of Christian Bittar, a former Deutsche Bank trader jailed in 2018.
Highest Mortgage Rates in 3 Years Chills the Housing Market
The average 30-year fixed-rate mortgage rose to 7.4 percent, putting more pressure on Americans struggling to afford to buy a home.
Airlines Are Upgrading Wi-Fi. Not All Are Using Elon Musk’s Service.
Mr. Musk, whose company SpaceX owns Starlink, has attacked the top executive of Delta Air Lines for not selecting the internet provider.
Anthropic bans users from being 'cruel' to its AI systems
The firm said users can no longer engage in "sustained and needless" abusive behaviour towards the tech.
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.