Since its launch, Carbon.Credit has seen a massive response in the community.
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 firstname.lastname@example.org
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.
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