Ethereum-software firm ConsenSys has created the Ethereum Climate Platform, which aims to mitigate the excess energy consumption the blockchain used under its former proof-of-work protocol. cryptauxmargaux reports
ConsenSys, an Ethereum-software firm that helped engineer the Merge, is co-launching with 18 other firms the Ethereum Climate Platform at COP27’s UN Climate Change Global Innovation Hub.
The platform is built for the Ethereum ecosystem, and will aim to mitigate the excess energy consumption that the blockchain used before it went through the Merge in September. “The idea is to gather a bunch of capital and invest the capital into technologies that can have a significant positive impact” Joseph Lubin, the founder of ConsenSys and a co-founder of the Ethereum blockchain told CoinDesk. “I anticipate that this group will want to fund projects that are not old style, legacy technology projects but do think about how they build systems."
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