German blockchain-oriented firm Transcendence has recently presented a new device that helps crypto miners manifest their environmental responsibility by going green. The device, called Greenbox, is designed as a solution to energy-wasting blockchains. It is no secret that Bitcoin is by far the most energy-demanding distributed ledger network, which negatively affects the environment.
In September, the United Nations Climate Action Summit was held in New York. While Greta Thunberg received the majority of the attention due to her headline-making speech, the summit marked another important step in reducing greenhouse gas emissions. About 60 countries are expected to reveal “steps to reduce emissions and support populations most vulnerable to the climate crisis.”
Just recently, from Dec. 2 to 13, the U.N. Climate Change Conference was held in Madrid, Spain. The U.N. Secretary-General Antonio Guterres expressed his disappointment with the outcome of the meeting, saying:
“The international community lost an important opportunity to show increased ambition on mitigation, adaptation and finance to tackle the climate crisis.”
However, not everyone is indifferent when it comes to greenhouse gas emissions, a factor that leads to climate change.
The Greenbox device
The creators of Greenbox wanted to address the common problems of proof-of-work blockchains. The device is based on a blockchain solution known as TelosGreen. Greenbox allows owners to earn regular rewards for the authentication of users transactions on Telos blockchain.
In turn, the yields can be used to obtain carbon credits, compensating for the CO2 emissions of the mining rig.
Currently, the devices displayed on the official website are educational versions that will be donated to schools.
The Transcendence team is now working on Greenbox Home, which will be the company’s flagship product. This is a much larger device and will be based on a similar existing product, called the Bluebox Pro.