October 19, 2021

Excellent Pix

Unlimited Technology

Energy Web and Protocol Labs to Decarbonize Filecoin

Energy Web and Protocol Labs finally made the announcement, showcasing the adoption of open-source solutions by cryptocurrency miners in a bid to harness decentralized renewable sources of energy according to Filecoin predictions reports.

Six providers of Filecoin storage bought authenticated renewable energy by using Energy Web Zero from 3Degrees as part of the solution showcase. The purchase of renewable energy has been archived in the reputation system called Filerep that stores data on the decentralized network of Filecoin. The integration of data pertaining to renewable energy into Filerep enables clients to factor in renewable sources of energy into the decision-making process while selecting storage providers. Every record at Filerep leads the user to its unique verification page on the Energy Web Zero platform. The verification page indicates the point of energy production, the documentation of the renewable source of energy, and the attestation certificate of ownership corresponding to the available credits of renewable energy. 

This solution for reducing the carbon footprint of Filecoin will be made available across multiple blockchains so that it becomes easy for cryptocurrency miners to conduct green mining and deliver its proof. The two platforms are now looking forward to developing a decentralized, open-source solution package to ensure that every storage provider at Filecoin can buy renewable energy sources at Energy Web Zero. Both the clients and the storage providers of Filecoin will authenticate the procurement for substantiating environmental claims with their transactions anchored to the Energy Web Chain. 

The two platforms are working on developing the open-source solution to comply with the initiative of the Crypto Climate Accord (CCA). The central mission of the CCA is to decrease the carbon footprint of the cryptocurrency sector by the promotion of green industry practices and the implementation of decentralized open-source solutions. Both 3Degrees and Protocol Labs are staunch supporters of the CCA, while Energy Web is one of the key convenors of the CCA.

Source News