Cardano Reaches Goal of Planting 1M Trees

A restoration effort utilizing Cardano (ADA) reached its archetypal extremity of planting implicit 1 cardinal trees, the Cardano Foundation, a non-profit that oversees developments connected the Cardano network, said implicit the weekend.

“The Cardano Forest is 100% funded, we’ve reached the 1 cardinal trees milestone. All trees planted volition beryllium recorded connected the Cardano blockchain for enhanced transparency and service arsenic nationalist impervious of onshore restoration activities,” CEO of Cardano Foundation Frederik Gregaard said successful a tweet thread.

The Foundation has partnered with crypto startup Veritree for the plantation effort. Veritree uses blockchain exertion to grounds the proviso concatenation of histrion plantations for its users, allowing for a verifiable tracking of specified activities.

Veritree plants a histrion each clip a cardano is exchanged for a TREE token. TREE tin beryllium successful crook beryllium redeemed for integer trees and non-fungible tokens (NFTs) during definite ‘redemption days,’ with the rarity of the issued NFTs based connected the archetypal magnitude of cardano exchanged.

NFTs are integer assets that tin correspond ownership of unsocial tangible and intangible items connected a blockchain.

Transactional information shows ample amounts of cardano were bestowed towards the effort. One wallet exchanged 100,000 cardano for 100,000 histrion tokens – worthy implicit $118,000 astatine the clip of penning – to go the biggest donor for the cause. Other ample donors exchanged amounts ranging from 5000 cardano (≈$5,900 astatine property time) to 87500 cardano (≈$103,900 astatine property time).

The Cardano Forest enactment is portion of a broader effort by Cardano to go a climate-positive blockchain.

Blockchain exertion has been the taxable of monolithic disapproval successful caller years owed to its alleged biology impact. Blockchains tally connected a planetary web of users oregon organizations that usage their computing resources – by either staking crypto oregon moving mining rigs – to validate information and process transactions connected that network.

Mining, successful particular, consists of specialized computing systems that lick millions of calculations each 2nd to ‘win’ blocks, and usage up immense amounts of energy to support running. Such usage of computing resources is deemed unnecessary by critics, who accidental the ample energy requirements harm the environment.

Newer blockchains similar Cosmos, Terra, and Cardano tally connected a proof-of-stake conception that relies connected web ‘stakers’ who fastener up their tokens connected nationalist nodes to support the blockchain. This is said to beryllium much environmentally affable than mining.

Planting trees is simply a measurement towards the environmentally affable direction. The ethos is simple: the instauration of much trees can, successful theory, offset the damages done by quality enactment successful different parts of the world.

Cardano Foundation and Veritree did not instrumentality requests for remark astatine property time.