{"id":435051,"date":"2022-04-21T12:15:31","date_gmt":"2022-04-21T09:15:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/algorand-aims-to-convert-network-transaction-fees-into-carbon-offsets\/"},"modified":"2022-04-21T12:15:31","modified_gmt":"2022-04-21T09:15:31","slug":"algorand-aims-to-convert-network-transaction-fees-into-carbon-offsets","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/algorand-aims-to-convert-network-transaction-fees-into-carbon-offsets\/","title":{"rendered":"# Algorand aims to convert network transaction fees into carbon offsets"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a42f1c22b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a42f1c22b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/algorand-aims-to-convert-network-transaction-fees-into-carbon-offsets\/#%E2%80%9D_Algorand_aims_to_convert_network_transaction_fees_into_carbon_offsets_%E2%80%9C\" >&#8221; Algorand aims to convert network transaction fees into carbon offsets  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Algorand_aims_to_convert_network_transaction_fees_into_carbon_offsets_%E2%80%9C\"><\/span>&#8221; Algorand aims to convert network transaction fees into carbon offsets  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjhhNTRkMGQtNTk0OS00NTgyLWI4NzYtMTYwNjkxMThjMGZlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Proof-of-stake blockchain protocol Algorand will implement a smart contract that will automate the offsetting of the network\u2019s carbon emissions.<\/p>\n<p>In a recent announcement, Algorand revealed that a new smart contract would take a portion of each transaction fee within its blockchain network and automatically process it to purchase verified carbon credits at ClimateTrade, a blockchain-based carbon offset marketplace.<\/p>\n<p>According to Algorand Foundation CEO Staci Warden, the move will allow the network to scale while still being carbon negative. Warden told Cointelegraph that the smart contract will ensure that their blockchain remains eco-friendly in the long-term and hopes that other firms do the same.\u00a0<\/p>\n<p>\u201cWe hope this encourages our partners and other blockchain protocols to lower their carbon footprint,\u201d said Warden. She explained that all tech companies have a responsibility to help build a sustainable future, and their team is h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>y that they are able to provide a blueprint on how this can be achieved.<\/p>\n<p>The CEO also praised the blockchain industry\u2019s efforts to be more eco-friendly. Warden said that:<\/p>\n<blockquote><p>\u201cThe industry is moving in the right direction by adopting proof-of-stake as the preferred consensus mechanism. While there are certainly valid criticisms against Bitcoin and proof of work, the future is bright.\u201d\u00a0<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Blockchain and oracles can help clean energy transition, study claims<\/em><\/strong> <\/p>\n<p>Back in 2021, the Algorand team made a pledge to be a carbon-negative blockchain. Through its partnership with ClimateTrade, Algorand was able to log its on-chain carbon footprint and put an equal amount of carbon credits in a green treasury.\u00a0<\/p>\n<p>Meanwhile, in an attempt to combat the effects of climate change, insurance firm Lemonade partnered with blockchain companies to form a decentralized autonomous organization (DAO) that aims to help African farmers from climate change effects. The DAO, called the Lemonade Crypto Climate Coalition, provides climate insurance to farmers and allows them to be compensated if they ever get affected by natural disasters.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/algorand-aims-to-convert-network-transaction-fees-into-carbon-offsets\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Algorand aims to convert network transaction fees into carbon offsets &#8220; Proof-of-stake blockchain protocol Algorand will implement a smart contract that will automate the offsetting of the network\u2019s carbon emissions. In a recent announcement, Algorand revealed that a new smart contract would take a portion of each transaction fee within its blockchain network and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":435052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjhhNTRkMGQtNTk0OS00NTgyLWI4NzYtMTYwNjkxMThjMGZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75866,74867,74894,10595],"class_list":["post-435051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-algorand","tag-altcoin","tag-blockchain","tag-environment"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=435051"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435051\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/435052"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=435051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=435051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=435051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}