One of the hottest topics in the NFT space and crypto world generally has been the environmental impact of numerous blockchain technologies. In recent months, many protocols have stepped up to address the issue; Ethereum has plans to move over to ETH 2.0, which is a proof of stake platform as opposed to proof of work, reducing the immense amount of energy required by the coin.
Enjin Joins the Crypto Climate Accord: JumpNet Goes Carbon-Negative
Jumpnet Goes Carbon Negative
Enjin's blockchain, JumpNet, launched a few months back with the intention to take both the blockchain and its upcoming Polkadot parachain, Efinity, carbon neutral by 2030. Jumpnet achieved the goal of carbon neutrality 9 years early, but now they're going a step further to make the technology carbon negative.
“It’s crucial to consider our planet first, even while innovating. The creation of new forms of technology should never come at the cost of destroying our environment,” said Maxim Blagov, CEO of Enjin. Aside from its environmental impact compared to other blockchains, Enjin's JumpNet doesn't rely on gas fees, making it a more accessible token for exchanging than some other options on the market right now.
JumpNet is now carbon negative; Enjin was able to accomplish this monumental feat by acquiring carbon offset credits through Beyond Neutral, meaning that—through the credits—JumpNet offsets a higher amount of carbon than it produces.
Crypto Climate Accord
This announcement was coupled with the news that Enjin has joined the Crypto Climate Accord, which is an initiative intended to decarbonize the crypto industry more widely.
The Accord, inspired by the Paris Climate Accord, is a joint effort from Energy Web, the Alliance for Innovative Regulation, and RMI. Their goal is to make the cryptocurrency industry 100% renewable, bringing together the crypto and fintech industries, with support from the UN Framework Convention on Climate Change (UNFCCC). Enjin will also be joining Gryphon Digital Mining on July 8th for a an event hosted by the United Nations Interregional Crime and Justice Research Institute (UNICRI), where they will further discuss the necessity of creating sustainable blockchain solutions to address inequality, discrimination, and unemployment in developing countries.
This is a huge step forward for Enjin and the crypto world generally; I'm excited to see other platforms begin to take similar steps so that we can live in a world that benefits from cryptocurrency while maintaining a commitment to environmental sustainability.