Mozilla announced during January that cryptocurrency donations were being halted due to environmental concerns. Mozilla announced last week that it would accept cryptocurrency donations from those who have digital assets that use a proof of stake (PoS), consensus model.
Mozilla Plans to Accept PoS Crypto Assets Only, Executive Says PoW Cryptos ‘Significantly Increase Our GHG Footprint’
Mark Surman, executive director at Mozilla Foundation published an update on the situation regarding crypto donation suspension. Surman explained that crypto donations were stopped by the Mozilla Foundation after Mozilla published its climate pledges. 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.”
Do you have any thoughts about Mozilla’s decision to stop accepting PoS cryptocurrency? Comment below and let us know how you feel about the subject.
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