The Brazilian Hathor Labs is the newest company in the cryptocurrency sector to adhere to the Crypto Climatic Agreement (CCA), to which companies such as Ripple Labs and Consensys are also signatories.
The startup was created by the founders of Hathor Network, with the aim of expanding the network’s performance in companies and businesses that want to use blockchain technology.
As highlighted by the company’s Marketing head, Guto Milano, for working with combined mining, the Harthor network already uses a very low emission of polluting gases to generate its native token, the HTR. However, the startup intends, by making a commitment to CCA, to help reduce the environmental impacts caused by Bitcoin (BTC) mining, becoming carbon-free by 2025.
The company’s blockchain uses a hybrid consensus mechanism, in which transactions are confirmed by both prior transfers and blocks mined from the proof of work (PoW) model.
In addition to being less polluting than traditional blockchains like BTC, Hathor Network offers other advantages such as fee-free transactions and large number of transfers per second. With this, it has stood out for being an alternative to the recent scalability problems faced in networks such as Ethereum (ETH).
In early June this year, the technology gained more evidence in the Brazilian media for being the blockchain chosen for the creation of non-fungible tokens (NFT) by youtuber Felipe Neto.
sustainable crypto world
The CCA is an initiative inspired by the Paris Climate Agreement, which brings together organizations focused on the world of cryptocurrencies that seek to reduce their carbon footprint and implement more renewable technologies in this sector.
Institutions adhering to the agreement can exchange information and experiences in order to present more renewable solutions to the cryptocurrency market, especially regarding the mining of these assets.
Its overall objective is that every transition involving cryptocurrencies by 2040 is free from polluting gas emissions. Large companies in the sector such as Ripple (XTZ), Consensys and Tezos (XTZ) are part of the CCA.
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