Earth Day 2020 (April 22nd)
ECO2 Ledger: The World’s First Carbon-Neutral Blockchain—Whitepaper 2.0 Release
Applying Blockchain Technology to the International Carbon Market
ECO2 Ledger, in accordance with international conventions on climate change, has applied blockchain technology to establish a consensus for emission reduction and improve carbon trading in a variety of ways. Firstly, ECO2 Ledger can improve the authenticity, transparency, and transaction efficiency of carbon credit data. Secondly, it can reduce the thresholds for data verification, carbon credit transfer, account operation and other costs. Lastly, it can increase the liquidity of carbon credit assets and enhance the global capacity for carbon emission reductions and carbon neutralization.
Overview of the ECO2 Founding Team
The ECO2 Founding Team is composed of Carl Hao and Neo Lin, as well as co-founders with diverse backgrounds from the United States, Europe and both sides of the Taiwan Strait. They come from the fields of international carbon credit trading, international trade, law, finance, blockchain technology R&D and new energy technology. The ECO2 Team has actively responded to the call for climate action by applying blockchain technology to mitigate the effects of climate change, promote low-carbon economies and improve human welfare.
ECO2 Ledger System Architechture
ECO2 Ledger uses a Delegated-Proof-of-Stake and practical Byzantine Fault Tolerance (DPoS + pBFT) consensus mechanism to create mining rights for validators that offset their carbon emissions. In this way, the operation of ECO2 Ledger will not produce carbon emissions and encourage the carbon emission reduction of its nodes and users. With international environmental organizations, environmental enterprises and individual emission reduction groups as nodes in the network, ECO2 Ledger will support the digitization of carbon assets and carbon accounts, becoming a public blockchain for real carbon assets.
ECO2 Ledger Consensus Mechanism
Consensus Mechanism: DPoS + pBFT.
Supernodes: Composed of 21 Emission Reduction (ER) Nodes.
Node Voting: 1 ECO2 token = 1 vote.
Election Cycle: 1 election every 30 days, with 3 days to cast votes per election cycle.
Block Production: 1 block is produced every 10 seconds on a rotating basis among the 21 ER Nodes
ECO2 Token Distribution
300 million ECO2 tokens in total will be distributed.
50%: 150 million ECO2 tokens will be distributed as block rewards (“mining”) among ER Nodes. 60% of each block’s rewards will be awarded to the node itself, and the remaining 40% will be distributed among the node’s voters.
20%: 60 million ECO2 tokens will be held by the ECO2 Ledger Management Committee to support the early-stage development of ECO2 Ledger.
20%: 60 million ECO2 tokens will be held by the Founding Team and locked for 2 years, with 25% of the total amount unlocked every 6 months.
10%: 30 million ECO2 tokens will be held by the ECC Management Committee to realize on-chain carbon neutrality of ECO2 Ledger.
Block Reward Schedule: Each block produced on ECO2 Ledger will reward 3.5 ECO2 tokens. Each year, block rewards will be reduced by 0.5 ECO2. Reductions in block rewards will occur on an annual basis until only 0.5 ECO2 is issued per block. This reduction schedule will remain in place until 150 million ECO2 tokens are distributed in this fashion.
Member and Cooperative Organizations
Climate Chain Coalition (CCC)
50%: 150 million ECO2 tokens will be distributed as block rewards (“mining”) among ER Nodes. 60% of each block’s rewards will be awarded to the node itself, and the remaining 40% will be distributed among the node’s voters. UN Climate Neutral Now
International Association of Trusted Blockchain Applications (INATBA)
Global Energy Interconnection Development and Cooperation Organization (GEIDCO)
China Energy Conservation Association (CECA)
Alliance of Carbon Emissions Trading, China Energy Conservation Association
Climate Chain Coalition (CCC)
The Earth's climate is radically changing—what kind of environment should we leave for future generations?
ECO2 WeChat Account: ECO2全球
The Climate Chain Coalition (CCC): www.climatechaincoalition.io
ECO2’s Climate Neutral Now Pledge: www.unfccc.int/climate-action/climate-neutral-now