Ethereums Carbon Debt is at $129.23m and rising - Can they offset it before it's too late?

DOVU is creating the next set of protocols that offer green initiatives for future generations to take advantage of and offset carbon emissions.
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LONDON, Virgin Islands, British - Aug. 16, 2021 - PRLog -- This year has been a crazy year for crypto. There have been new trends, up and downs, and new all-time highs (ATHs). Ultimately, this has led to massive increases in crypto carbon emissions, mainly from miners in Proof of Work (PoW) networks. Currently, the global carbon Ethereum debt is $129.23m which is equivalent to 2.019 Mt CO2e.

This surge in debt could be accredited to NFTs as they have become increasingly more popular this year putting the spotlight on Ethereum. According to Fortune, a single Ethereum transaction consumes as much electricity as an average U.S. household uses in a single week and has a carbon footprint equivalent to 140,893 Visa credit card transactions. As you can see, those NFT sales going viral come at a serious price for the planet. This is extremely worrying but if you participate in the DOVU ecosystem, you can make a difference and start offsetting your carbon by supporting farmers with DOV tokens.

By using the brand new, very first Ethereum powered carbon tracking tool, Carbon Market Cap (https://carbon.dovu.market/) from DOVU, users can see all the Ethereum projects carbon consumption by carbon debt in real time and from genesis. This easy to use tool is extremely useful and will inspire positive action to be taken.

Taking the lead in first place in terms of carbon debt is Tether (USDT), with a whopping 843,075 kg and costing $53,956,825 (3,499,297,645 DOV) to offset at the time of writing, however it is important to note that as the data is ever-changing the demand grows stronger with each day. You can keep an eye on their consumption and if it goes down by visiting the Carbon Market Cap website now.

Education of crypto and its energy consumption is perhaps one of the most overlooked aspects of blockchain technology today. Most new users don't know what actually happens behind the hood. DOVU is changing that by showing the effects of crypto mining and what participants can do to change this to become more environmentally friendly.

Visit DOVU (http://dovu.earth) for more details.

Contact
Yulande Choi
***@dovu.io
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Tags:Ethereum
Industry:Technology
Location:London - London - Virgin Islands, British
Subject:Features
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Page Updated Last on: Aug 17, 2021
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