The Cardano Foundation – a non-profit pioneering the development of Cardano – has reached its first milestone towards land restoration in Kenya. It has successfully planted over 1 million trees, each of which will be recorded on the Cardano blockchain.
tree to tree token
Cardano Foundation CEO Frederick Gregard announced The achievement on Sunday said the foundation is striving to establish blockchain as “a leader” in efforts to address climate change, and ultimately as a force for good.
“#CardanoForest will support land restoration and local ecosystem development activities in Mombasa, Kenya,” he explained. “All trees planted for increased transparency will be recorded on the Cardano blockchain and serve as public proof of land restoration activities.”
The foundation is undertaking its tree planting effort in partnership with Veritree, which uses blockchain technology to record data on its nature restoration efforts.
The organization plants a tree each time Cardano users exchange ADA for tree tokens. Those tokens can later be exchanged for Digital Tree NFTs, whose rarity depends on how much ADA’s initial token cost. Gregard asked the Cardano Forest project to “show the MVP how transparent SDG reporting can be done with blockchain technology.”
Transactional data shows that one wallet exchanged 100 000 ADA for an equivalent number of TREE tokens, hence planting 100 000 trees. This is over $115 000 at the time of writing.
Cardano and Climate
Unlike Bitcoin and Ethereum, Cardano is striving to differentiate itself from other blockchains by following an eco-friendly narrative. The latter two blockchains use a proof-of-work consensus mechanism that requires computers from across the planet – aka “miners” – to expend enormous energy securing their networks. . It has become a controversial ethical issue among some communities.
In contrast, Cardano uses a “proof-of-stake” mechanism that requires only a tiny fraction of bitcoin’s energy to provide security – although there are other tradeoffs.
Last May, Elon Musk announced that Tesla would stop accepting bitcoin due to energy use concerns. Shortly after, Cardano founder Charles Hoskinson argued that Tesla should use ADA as an energy-efficient replacement.
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