The company behind the Firefox internet browser, Mozilla, is trying to placate its eco-conscious community by only accepting Proof-of-Stake (PoS) crypto donations.
The company initially halted all crypto donations in January, but reopened them after a review period to assess community sentiment and conduct research into crypto energy consumption.
An update to our policy on accepting cryptocurrency donations.
We got it wrong, we heard you and we evolved. https://t.co/0bSThVJsCC
– Mozilla (@mozilla) April 7, 2022
PoS blockchains use less than 1% as much electricity as Bitcoin, although their efficiency varies between them, a February report shows.
Mozilla announced in a blog that after a review, it would change its donation policy to align with its “climate commitments.” It said: “Mozilla will no longer accept proof-of-work cryptocurrencies, which are more power-intensive.
“Proof-of-work cryptocurrencies can significantly increase our greenhouse gas emissions [greenhouse gas] footprint due to their energy-intensive nature.”
The company also said the move came on the basis of its self-imposed January 2021 climate commitments, which aim to “significantly reduce our greenhouse gas footprint year on year” until it becomes carbon neutral.
“Mozilla’s decision not to accept proof-of-work donations ensures that our fundraising activities remain aligned with our issuance commitment.”
By rejecting all non-PoS cryptos, Mozilla is blocking both Bitcoin (BTC), the largest cryptocurrency by market cap, and Ether (ETH) — at least until the merger happens in the coming months and this blockchain PoS takes over.
Mozilla said it would release a list of accepted cryptocurrencies by the end of Q2 2022. Some native coins of the most popular PoS chains are BNB Chain (BNB), Solana (SOL) and Avalanche (AVAX).
Among Mozilla’s critics of Mozilla’s new crypto donation policy was Mozilla’s own founder Jamie Zawinski. He tweeted on Jan. 4 that those at Mozilla complicit in Bitcoin’s adoption “should be deeply ashamed” of collaborating with the “planet-burning Ponzi grabs.” Zawinski left Mozilla in 1999.
Gabor Gurbacs, director of digital strategy at American investment firm VanEck, sharply criticized Mozilla’s decision to block Bitcoin donations. On a 12.4 tweethe called the move “misguided and virtuous in nature,” adding that “Bitcoin is one of the greenest industries out there.”
While bitcoin consumes about 204.5 terawatt hours (TWh) of energy annually, according to data from blockchain researchers Digiconomist, the actual impact on the climate is far more controversial. Proponents dispute that miners securing the grid are helping to strengthen energy grids and improve carbon efficiency, while operations themselves increasingly shift to renewable energy.
As Cointelegraph reported last month, flexible data centers can be used for bitcoin mining. Flexible data centers can switch between self-generated green energy and connection to the public grid to reduce the environmental impact and the load on the public grid overall.
Related: Marathon Digital moves BTC mine in Montana to strive for carbon neutrality
Crypto storage company Blockstream and Jack Dorsey’s Bitcoin development firm Block Inc announced on April 8 that they would be collaborating with Elon Musk’s Tesla to build a solar-powered BTC mining facility in Texas, the new hotbed of clean energy mining -Establishments.
https://cointelegraph.com/news/no-bitcoin-mozilla-will-only-accept-proof-of-stake-crypto-donations Mozilla only accepts proof-of-stake crypto donations