Mozilla to Reinstate Crypto Donations — Organization Will Not Accept Proof-of-Work Cryptocurrencies
During the first week of January, the software community Mozilla revealed it was pausing cryptocurrency donations after citing environmental concerns. 14 weeks later, Mozilla decided last week it will accept crypto donations again, but only from digital assets that leverage a proof-of-stake (PoS) consensus model. Mozilla Plans to Accept PoS Crypto Assets Only, Executive Says PoW Cryptos ‘Significantly Increase Our GHG Footprint’
On April 7, Mark Surman, the executive director at the Mozilla Foundation, published an update about the software community pausing crypto donations. Surman said that it was after Mozilla released its climate commitments, and after Mozilla staff and supporters complained, that the foundation decided to pause crypto donations. Mozilla decided to review the environmental impact of cryptocurrencies more closely, and Surman’s blog post reports back on the results of Mozilla’s review.
“Starting today, we are updating our donation policy,” Surman’s update explains. “Mozilla will no longer accept ‘proof-of-work’ cryptocurrencies, which are more energy-intensive. Mozilla will accept ‘proof-of-stake’ cryptocurrencies, which are less energy-intensive. Mozilla will develop and share a list of cryptocurrencies we accept by the end of Q2 2022,” the Mozilla Foundation executive director added.
Surman detailed that the decision is mainly based on the organization’s climate commitments that aim to “exceed the net-zero emissions commitment of the Paris Climate Agreement.” The Mozilla Foundation believes that proof-of-work (PoW) digital assets “significantly increase our GHG footprint.” By stopping the acceptance of PoW cryptos, Surman stressed that the decision remains “aligned” with Mozilla’s emissions commitment.
“In our climate commitments, we also promised to help develop, design, and improve products from a sustainability perspective,” Mozilla’s executive director concluded. “We believe that Mozilla can play a positive role in the industry by encouraging those cryptocurrencies that we do accept to be transparent about their energy consumption patterns.” Tags in this story Bitcoin, Bitcoin (BTC), Crypto Acceptance, Crypto Donations, environment, Mark Surman, Mozilla, Mozilla Foundation, PoS, PoW, PoW ban, Proof of Work, Proof-of-Stake, update
What do you think about Mozilla changing its decision to accept PoS cryptocurrencies? Let us know what you think about this subject in the comments section below. Jamie Redman
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Report: Fed’s Secret Repo Loans to Megabanks in 2020 Eclipsed 2008 Bailouts, Data Dump Shows $48 Trillion in Stealth Funding NEWS | 2 hours ago Ethereum Dev Says The Merge Could Be Delayed a Few Months, "Strongly Suggests" Not Investing in ETH Mining Rigs NEWS | 4 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: BTC Moves Below $40,000, Some Anticipating Drop to $30,000 Next articleBiggest Movers: WAVES Falls to 1-Month Low, BCH Over 10% Higher on Wednesday Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3
On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge ... read more.NFT Marketplace Opensea to Add Credit Card, Apple Pay Support via Moonpay US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool Vaneck Report Calculates Bitcoin Price Could Tap $4.8M if BTC Becomes the Global Reserve Currency With Over 90% of BTC"s Supply Issued, Bitcoin"s Mining Difficulty Reaches a Lifetime High