Converting from proof-of-work (PoW) to proof-of-stake (PoS) consensus, commonly called the Merge, has fundamentally changed the way by which the Ethereum network validates transactions, adds blocks, and rewards network participants. As a result, computation intensive block mining is no longer needed, and the network’s electricity consumption, by some estimates, will be reduced by over 99.9%. This white paper outlines the four-step methodology that Metaverse Green Exchange (MVGX) uses to...
Ether (ETH) is the cryptocurrency unit of the Ethereum blockchain network. For the purpose of establishing the default carbon footprint for one ETH transacted on the Cyberdyne Tech Exchange (CTX), this report describes the methodology for calculating carbon emissions of mining one ETH. The scope of the methodology is limited to the electricity consumed during ETH mining and the corresponding carbon emissions from generating and delivering the electricity. The methodology is based on the...
Methodology of Calculating the Carbon Footprint of One Bitcoin – April 2021 This report summarizes the methodology of calculating the carbon footprint of one bitcoin and explains the default carbon footprint of each bitcoin to be traded on CTX. Based on the current prevailing mining process and under the guidance of international standards for carbon emission quantification (e.g., ISO 14046, ISO14047, etc.), the carbon emission of one bitcoin is the product of i) the power of the mining...