VeChainStats leads environmental responsibility with carbon calculator launch, strengthens VeChain position in the digital-sustainable revolution

  • The VechainStats carbon calculator comprises of 34 variables consisting of emissions data from different Cloud providers, their premises, and local geographies.
  • The calculator will help Vechain quantify the lifetime emissions of its blockchain and move towards a negative carbon platform.

Major blockchain networks across the world have initiated measures to increase their contribution and reduce their carbon footprint. Popular blockchain platform VeChain is addressing one of the key challenges of reliably tracking carbon emissions.

As a result, VeChainStats currently launched their carbon calculation tool built in consultation with DNV, a globally renowned consultation and certification expert. This carbon calculator will allow individuals and organizations to calculate the emissions of their blockchain-based activities.

Ultimately this will provide a robust base to build carbon calculating methodologies for tracking the upstream and downstream emissions. The launch of this new tool will also help VeChain establish itself as a global platform of sustainability objectives.

Working on VeChainStats carbon calculator

The VeChainStats carbon calculator comprises a total of 34 variables. This includes emissions data from different Cloud providers, their premises, and local geographies, as well as other factors such as how many Authority Masternodes nodes are run in local instances.

VeChain said that the future iterations of this calculator will be dynamic responding to real-time values as recording capabilities become more advanced. Using this tool, VeChain will also be able to quantify the lifetime emissions of its blockchain. It can also mitigate its historical carbon footprint thereby moving towards a negative carbon platform. Thus, Vechain can attain its sustainability aspirations going ahead.

During any transactions taking place on the VeChain blockchain, VechainThor will automatically select the least carbon-intensive smart contract to achieve the desired outcome. Furthermore, the VeWorld Web3 wallet will also have the calculator integrated which can communicate directly with VeChainStats to verify the smart contract’s carbon intensiveness before broadcasting a transaction. The official announcement notes:

The ability to accurately record carbon emissions can also lead to carbon cost quantification based on global carbon market data. In this manner, we will also introduce the ability to create financial tools based on carbon emissions reductions and build incentivised ecosystems such as the ‘Digital Biosphere’ concept launched with our new global partner, Boston Consulting Group.

VeChain into Web3 and Dapps

Recently, VeChain has accelerated its move with new developments into Web3 and Dapp integrations. Earlier this week, VeChain said that it will soon introduce VORJ code-free Web3 services platform allowing users to create, manage, and deploy smart contracts with ease.

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VORJ will function as a no-code Web3 services platform thereby bridging the gap between Web2 and Web3. It reduces the barrier to entry allowing anyone to create and deploy smart contracts.

Moreover, Vechain has also announced a complete integration with the world’s largest Dapp store aka Dapp Radar. As a result, users can submit their VeChain-based Dapps and also expand the cross-chain visibility across DappRadar having roughly 1.5 million monthly users.

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About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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