17 August 2022
Recently, the Cardano Foundation took major steps to tackle climate change through land restoration efforts using Cardano. On Sunday, the Foundation announced that this new initiative for the environment has achieved one million milestones in trees planted.
Looking at Cardano’s initiative, the foundation is set to support more tree-planting initiatives and become the most sustainable green Blockchain project.
Veritree and Cardano signed an agreement for a reforestation effort. Veritree is famous for climate restoration. It's a platform that makes use of Blockchain technology to record and track tree plantations for customers. The platform operates a “Cardano Forest” where customers can donate Cardano (ADA) tokens in exchange for limited edition TREE tokens. In exchange for ADA, Veritree plants one tree. Users can redeem TREE tokens for NFT digital art and digital trees.
Frederik Gregaard, an executive of Cardano Foundation, said that the Cardano Forest is fully funded, and a 1 million trees milestone had been attained. Also, one can check all the reforestation verification details on the Cardano Blockchain for transparency and credibility.
Cardano has been famed as a green Blockchain due to its relatively low energy consumption. Cardano is different from Bitcoin, which leverages the energy-intensive proof-of-work (PoW) consensus mechanism that has attracted the ire of some skeptics. While Cardano runs on a proof-of-stake (PoS) algorithm that claims to be more environmentally friendly.