Fight Global Warming, Cardano (ADA) Plants 1 Million Trees In Kenya, Every Tree Is Recorded On Blockchain
JAKARTA – The Cardano Foundation, the non-profit organization behind the development of the ADA crypto, is reportedly carrying out land restoration in Kenya. The Cardano Foundation managed to plant more than 1 million trees with each one listed on the Cardano blockchain as reported by Cryptopotato.
This is Cardano's effort to fight climate change. Cardano Foundation CEO Frederik Gregaard announced the achievement on Sunday, January 9, 2022. Gregard stated that the Cardano Foundation is working to position blockchain as a leader in tackling climate change. He added that this could be used for good.
“#CardanoForest will support land restoration activities and local ecosystem development in Mombasa, Kenya,” he explained. “All trees planted will be recorded on the Cardano blockchain to increase transparency and serve as public evidence of land restoration activities.”
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In efforts to restore land in Kenya, the Cardano Foundation has partnered with Veritree, a blockchain-based climate solutions platform. Veritree leverages blockchain technology to record data on natural restoration efforts.
The Cardano Foundation will plant a tree every time a ADA crypto user exchanges it for TREE tokens. In addition, TREE tokens will also be exchangeable for digital tree NFTs. Transaction data shows that one wallet exchanged 100,000 ADA for TREE tokens, therefore Cardano would plant 100,000 trees.
Cardano's efforts to fight climate change have set ADA apart from other cryptocurrencies including Bitcoin and Ethereum. Even so, BTC and ETH still use the proof-of-work (PoW) consensus mechanism. Mining done with PoW must use a lot of energy. This is in contrast to the proof-of-stake (PoS) consensus as used by the ADA. PoS is considered more environmentally friendly.
As of writing, the Cardano cryptocurrency (ADA) is trading at Rp16,445. ADA has decreased about 13.0 percent in the past week, according to data from Coingecko. Even so, this decline cannot be separated from Bitcoin which experienced a massive correction in recent weeks.