Enjin to Switch Entirely to Green, Carbon-Neutral NFTs By 2030

The high energy usage of cryptocurrencies still tops crypto-based discussions this year with experts and enthusiasts proffering solutions. Enjin Coin joins the growing...
Enjin to Switch Entirely to Green, Carbon-Neutral NFTs By 2030 Enjin to Switch Entirely to Green, Carbon-Neutral NFTs By 2030

  • The high energy usage of cryptocurrencies still tops crypto-based discussions this year with experts and enthusiasts proffering solutions.
  • Enjin Coin joins the growing list of blockchain solutions and coins to set out a roadmap that will fulfill their carbon negative pledge.
  • Bitcoin energy usage reached a high of 80 terawatt-hours of electricity per annum and is competing with countries like Finland and Argentina in terms of energy usage.
  • This development by Enjin Coin is positive for the market and Enjin’s new blockchain will need to start off on the right foot.

Climate change has been at the centre of almost all United Nations meetings and resolutions for the last decade. The world is changing due to the activities of man and there is a need to endeavour to go carbon neutral in almost all sectors to revert the damage already caused and to achieve sustainable development goals.

Cryptocurrencies have been in a bad light due to the high energy usage of Bitcoin and other altcoins. Many coins like Enjin coin have pledged to change the trend of high energy usage due to mining by either changing its mechanism to become energy efficient or sponsoring mining with alternative energy.

Enjin Goes Green

Enjin has set up a roadmap to enable carbon-neutral NFT’s by 2030 as part of its pledge to become energy efficient when it joins the climate accord.

Enjin Coin is a member of the United’s Nations Global Compact, a pact aimed at enabling businesses to adopt sustainability and innovative policies. Enjin plans to do this by deploying NFTs to drive sustainability and improve equality.

Enjin hopes to deploy carbon-neutral NFT’s to fight climate change by employing them with carbon capture companies and reducing the wealth, another of the United Nations goals.

Enjin Coin joined the Crypto Climate Accord earlier and is committed to achieving zero emissions from electricity and has hailed its JumpNet blockchain for already being carbon negative.

Crypto Energy Usage: A Harsh Reality

Blockchain technology came with a lot of benefits as it was a huge step leading to DeFi. Cryptos achieved monetary decentralization giving power to the people but all of this came at a price: the environment.

Bitcoin and other cryptocurrencies based on Proof-of-Work systems use large amounts of energy for their mining operations, most of which comes from fossil fuels that are harmful to the environment.

As a result of the Proof-of-Work mechanism, energy usage has increased rapidly, leading to blockchains switching to Proof-of-Stake and other less energy-consuming mechanisms.

Bitcoin, being at the top, consumes about 80 terawatt-hours of electricity annually according to a Cambridge University Report. This means that Bitcoin is essentially equalling the total energy usage of Finland and consumes more than Argentina and The Netherlands.

On The Flipside

  • The news from Enjin Coin and blockchains about pledging to go carbon-neutral won’t slow down the Chinese crypto mining clampdown.
  • The dependence on fossil fuel in crypto is deep and may continue for a long time. Enjin may however meet their 2030 pledge.

Enjin Coin: What’s it all About?

Enjin is an umbrella development that comes with many solutions and utilities. Its first development, the Enjin Network is a social network with 20 million users where they can chat, create virtual stores, etc.

Enjin makes it possible for game developers to tokenize in-game items on the Ethereum blockchain. Enjin Coin is an ERC token that makes it possible to buy and sell NFT’s for real value. NFTs can be minted with the Enjin platform giving it lots of benefits including making it anti-inflationary, scarce and transparent.

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31-07-2021 19:46:38 (UTC+7)

EUR/USD

1.1871

-0.0015 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

EUR/USD

1.1871

-0.0015 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (7)

GBP/USD

1.3902

-0.0059 (-0.42%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (8)

USD/JPY

109.72

+0.26 (+0.24%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.7345

-0.0050 (-0.68%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (6)

USD/CAD

1.2472

+0.0028 (+0.23%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (1)

EUR/JPY

130.25

+0.13 (+0.10%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (3)

EUR/CHF

1.0751

-0.0021 (-0.19%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (3)

Gold Futures

1,812.30

-18.90 (-1.03%)

Summary

Neutral

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (5)

Silver Futures

25.547

-0.235 (-0.91%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (2)

Copper Futures

4.4785

-0.0450 (-0.99%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (3)

Crude Oil WTI Futures

73.72

+0.10 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (4)

Sell (5)

Brent Oil Futures

75.14

+0.04 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (1)

Natural Gas Futures

3.915

-0.144 (-3.55%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

US Coffee C Futures

180.38

-16.12 (-8.20%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

Euro Stoxx 50

4,089.30

-27.47 (-0.67%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,395.26

-23.89 (-0.54%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

DAX

15,544.39

-96.08 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (8)

FTSE 100

7,032.30

-46.12 (-0.65%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Hang Seng

25,908.00

-335.62 (-1.28%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,223.25

-16.78 (-0.75%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (0)

IBEX 35

8,675.70

-110.60 (-1.26%)

Summary

↑ Sell

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Sell (12)

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Sell (9)

BASF SE NA O.N.

66.310

-0.535 (-0.80%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

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Bayer AG NA

50.36

-0.71 (-1.39%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

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Sell (9)

Allianz SE VNA O.N.

210.35

-1.30 (-0.61%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

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Sell (9)

Adidas AG

306.85

-1.92 (-0.62%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

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Deutsche Lufthansa AG

9.548

-0.332 (-3.36%)

Summary

Buy

Moving Avg:

Buy (8)

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Indicators:

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Siemens AG Class N

131.82

-1.24 (-0.93%)

Summary

↑ Sell

Moving Avg:

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Sell (11)

Indicators:

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Deutsche Bank AG

10.685

-0.170 (-1.57%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (5)

 EUR/USD1.1871↑ Sell
 GBP/USD1.3902Sell
 USD/JPY109.72↑ Buy
 AUD/USD0.7345Neutral
 USD/CAD1.2472↑ Buy
 EUR/JPY130.25↑ Buy
 EUR/CHF1.0751↑ Buy
 Gold1,812.30Neutral
 Silver25.547↑ Buy
 Copper4.4785Buy
 Crude Oil WTI73.72↑ Sell
 Brent Oil75.14↑ Buy
 Natural Gas3.915↑ Sell
 US Coffee C180.38Neutral
 Euro Stoxx 504,089.30↑ Sell
 S&P 5004,395.26Buy
 DAX15,544.39↑ Sell
 FTSE 1007,032.30↑ Sell
 Hang Seng25,908.00↑ Buy
 Small Cap 20002,223.25↑ Buy
 IBEX 358,675.70↑ Sell
 BASF66.310↑ Sell
 Bayer50.36↑ Sell
 Allianz210.35↑ Sell
 Adidas306.85↑ Sell
 Lufthansa9.548Buy
 Siemens AG131.82↑ Sell
 Deutsche Bank AG10.685Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,720
(0/ 0) # 643
SJC HCM5,655/ 5,725
(-15/ -15) # 688
SJC Hanoi5,655/ 5,727
(-15/ -15) # 690
SJC Danang5,655/ 5,727
(-15/ -15) # 690
SJC Nhatrang5,655/ 5,727
(-15/ -15) # 690
SJC Cantho5,655/ 5,727
(-15/ -15) # 690
Cập nhật 31-07-2021 19:46:40
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,813.62-16.91-0.92%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2178022210
RON 95-II,III2168022110
E5 RON 92-II2049020890
DO 0.05S1637016690
DO 0,001S-V1672017050
Dầu hỏa1539015690
ↂ Giá dầu thô thế giới
WTI$73.40+0.280.38%
Brent$75.06+0.020.03%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.820,0023.050,00
EUR26.579,9627.963,10
GBP31.210,5432.514,30
JPY204,45215,17
KRW17,3221,09
Cập nhật lúc 18:51:26 31/07/2021
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