Evade’s end-to-end blockchain products to prevent global carbon emissions
Evadore Contributes to global sustainability efforts to reduce carbon emissions from the growing mining of Bitcoins.
FREMONT, CA: Due to the enormous amount of energy required for digital cryptocurrency mining, environmentalists are concerned that its growing popularity will leave a large carbon footprint. Bitcoin’s price increases as it becomes more successful; the higher the price, the greater the competition for Bitcoin; therefore, the more energy is used to extract it. As the price of cryptocurrencies rises, the incentive to mine them will also increase, creating a feedback loop that is harmful to the environment.
“Data from the University of Cambridge estimates that Bitcoin will emit around 62 megatons of carbon dioxide equivalent each year at the current mining rate,” says EvaLab’s Community Manager Timothy Walker, adding: “This is equivalent to Serbia’s total carbon emissions in 2019.”
A nonprofit and regenerative finance (ReFi) company, Evadore aims to accelerate global sustainability efforts by reducing emissions. Many of Evadore’s products promote the use of renewable energy sources worldwide, including Eva Chain, EvaStore, EvaPay, GreenWallet, EvaForest and CarbonEva.
In addition to generating revenue from its projects, EvaLabs excludes blockchain costs to move the world forward towards a more sustainable future. Using cryptocurrency and blockchain technologies, EvaStore, the network project product, seeks to end the climate crisis by transferring carbon credits purchased to projects aimed at reducing greenhouse gas emissions.
GreenWallet aims to provide cryptocurrency investors with a sustainable and multi-currency cryptocurrency wallet, and EvaForest aims to plant forests worldwide to reduce carbon emissions. With EvaLabs’ EvaPay solution, users can calculate their daily carbon emissions and receive tips on how to reduce them, while CarbonEva offers users a premium eco-friendly payment technology for cryptocurrency. The Eva chain blockchain is used for all transactions in the Evadore ecosystem.
Timothy Walker says, “with a focus on sustainability, social justice and environmental responsibility, ReFis is the enabler of blockchain, which is a decentralized, secure and transparent system with the potential to transform various industries. And EvaLabs will be the pioneer in this transformation. .”