Written in CRYPTO he
Every day more companies seek to join initiatives that make them more attractive to the population that requests a more sustainable world, unfortunately there are processes in the digital world, such as the mining of cryptocurrencieswhich cause a strong impact on the environment derived from high energy consumption.
It is there where initiatives such as Green Proofs for Bitcoin (GP4BTC), have space to shine, as they promote a step towards decarbonization of BTCthrough a scoring system designed for the industry of cryptomining.
The new system developed by Energy Web, an independent non-profit organization, seeks to contribute to the dialogue between miners so that companies concerned about the carbon footprint that cryptocurrencies are leaving can work together.
“Bitcoin is currently under scrutiny due to its electricity consumption and its associated climate impact,” said Amy Westervelt, one of the leaders of the GP4BTC initiative.
The platform will grant certifications to Bitcoin miners based on the use of clean energy. With this, companies will be able to count on certifications that guarantee them a good reputation; Both miners and hosting companies can participate in the initiative.
It’s a statement, Energy Web He explained that 35 miners, non-governmental organizations, network operators and other energy and cryptographic market participants who seek to participate in initiatives that ensure compliance with practices participated in the initiative. IS G (governance, social and environment).
How does the certification work?
Transparency focused on BTC mining is not new, in fact there are models like the Sustainable Bitcoin Protocol, which provide certifications that can be added to a Bitcoin investor’s property.
As for the GP4BTC certification, it generates a “clean energy” score, which is calculated based on the operation, location and energy consumption. In such a way that the use of renewable electricity by those in charge of mining the cryptoactive is transparent.
According to information from Blockworks, companies such as Argo Blockchain, Cowa, DMG Blockchain Solutions, Hive Blockchain Technologies and Gryphon Digital Mining have been certified.
“We need to move past complacent press releases and start offering coordinated, tangible third-party certifications confirming clean energy use,” Gryphon Digital Mining CEO Rob Chang said in a statement.