ECO2 Ledger is a public blockchain with zero emissions that will allow for the on-chain issuance of emission reduction assets. This process will be decentralized and autonomous, and will incentivize stakeholders to achieve carbon neutrality. ECO2 Ledger will feature emission reduction asset issuance mechanisms, a DPoS structure with 21 supernodes, a dual-token economic model, an on-chain voting system, an autonomous proposal system, on-chain carbon neutrality, and net-zero carbon emissions.
ECO2 Ledger's characteristics:
1. Delegated Proof-of-Stake (DPoS)
ECO2 Ledger is a blockchain network based on the Delegated Proof-of-Stake (DPoS)
consensusmechanism. The network in total has 21 supernodes, which are responsible for
transaction verification, transaction accounting, transaction packaging, block packaging, block
verification and other on-chain operations.
2. Zero Emission Mechanism
The operations of ECO2 Ledger will consume electricity, which in turn will cause carbon dioxide
emissions. The estimated annual carbon footprint of ECO2 Ledger is derived from two sources: the
21 supernodes that validate the network every 10 seconds, and the activity of users. When users
and nodes operate ECO2 Ledger, they will need to offset their emissions with carbon credits from
their accounts to be considered 100% carbon neutral.
ECO2 Ledger's functions:
1. Global Carbon Registry
ECO2 Ledger will allow carbon credits to be transferred from other carbon accounting systems.
ECO2 Ledger will also become a carbon standard registry for the management of carbon credits
and their corresponding project’s information.
2. Carbon Account
ECO2 Ledger's blockchain-based Carbon Account is designed for both companies & individuals.
Carbon Account information will be fully transparent, and operations can be performed via desktop
and mobile device.
3. Carbon Transaction Record
The transactions of carbon trading between each account will be timestamped and recorded on
ECO2 Ledger. This will make the transaction data transparent, traceable, and immutable to prevent
the double-counting of carbon credits.
4. Carbon Neutrality Data Storage
Data related to carbon neutrality will be recorded on ECO2 Ledger and displayed in the Carbon
Neutral Pool. Companies, organizations and individuals can directly offset their carbon footprints
on ECO2 Ledger via their carbon accounts on their digital devices. The transparency and
immutability of the data will enhance the credibility of climate actions.
5. Decentralized APP
ECO2 Ledger will enable the use of smart contracts and built-in contracts, which can diversify the
use of carbon credits and environmental tokens. Any company, organization and individual can
design applications based on ECO2 Ledger for use on desktops or mobile devices.