Mozilla to accept PoS cryptocurrencies for charity and not PoW assets

Mozilla, a non-profit organization of the web browser Firefox, announced on April 7 that it is resuming cryptocurrency donations, but only for cryptocurrencies based on the Proof of stake (PoS) consensus mechanism.

Mozilla has been accepting cryptocurrency donations since 2014. However, it stopped acknowledging crypto donations citing the tremendous carbon footprint arising from mining cryptocurrencies in January 2022.

In a report named ‘Reporting back on Mozilla’s cryptocurrency donations’. Mark Surman has emphasized these details and points about the new crypto donation conditions for the organization:

  • The Mozilla executive revealed that 14 weeks after Mozilla stopped all crypto donations in January, it reassessed its stand and decided to proceed further with the decision to continue accepting cryptocurrencies for philanthropic pursuits.
  • Mozilla will develop and share the list of cryptocurrencies accepted under the PoS model by the end of the Q2 of 2022.
  • The software community would no longer accept crypto donations from digital assets based on the Proof of Work (PoW) consensus mechanism as they are energy-intensive. like Bitcoin.
  • The PoW cryptocurrencies can extensively increase the carbon footprint. Thus Mozilla decided not to accept proof-of-work donations to ensure that their fundraising activities are in sync with the emissions commitment.
  • Mozilla is also committed to helping develop, design, and improve products to make them more sustainable. In this way, Mozilla wants to play a positive role by encouraging transparent cryptocurrencies about their energy consumption patterns.

Author: Abhishek Kumar

A self-believer who loves to learn and spread the light of wisdom in his community. You could find him writing about finance, cryptos, and marketing. Moreover, he loves to read non-fiction and drink non-alcoholic drinks.

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