The most impactful blockchain of all which provides decentralization, scalability, and secure infrastructure to the developers ‘Algorand‘ is going to automate the offsetting of carbon emissions. Algorand, the smartest blockchain has announced to implementation of the first smart contract to lessen the carbon emission in the environment.
Through the new smart contract, during every transaction, the network will automatically allocate the transaction fee to its validators resulting in offsetting its carbon emissions. Algorand works on PPoS (Pure Proof-of-Stake) mechanism to function efficiently. The development of self-sustaining smart contracts is a huge step towards carbon-efficient technology.
Interestingly, Algorand celebrated Earth Day today by displaying green LED billboards over New York city’s Times Square. The entire Times Square was exhibiting the color green depicting the color of sustainability and environment-friendly while elsewhere went completely dark.
However, Algorand has always been consistent in thinking about sustainability. Its unique infrastructure based on a pure proof-of-stake consensus mechanism asks for a minimal amount of energy and fees while focusing on high-speed finality and security.
To improve the overall efficiency, Algorand also partnered with ClimatTrade last year. Whereas, ClimateTrade is the leading company that manages carbon offsetting activities to reduce carbon emissions. The organization’s API can easily integrate with any platform, product, or service so that it can become carbon-negative.