Accurately determining the carbon footprint of blockchain transactions is a well-known challenge. In 2023, the business and investment community continues to prioritize sustainability. As a result, the industry is focused on developing precise and efficient tools to support the expansion of an eco-friendlier Web3.
The Menthol Protocol, which is the initial multi-chain decentralized sustainability protocol featuring automatic carbon offsetting, has recently collaborated with peaq. This Web3 network is responsible for powering the Economy of Things. The purpose of this collaboration is to establish a carbon footprint calculator that can be used for Decentralized Physical Infrastructure Networks (DePINs) and decentralized applications (dApps) that operate on peaq and its canary network krest.
The calculator will not only present an outline of the network’s ecological statistics but will also establish the basis for an offsetting mechanism. This mechanism will enable dApps and DePINs on peaq to achieve carbon neutrality.
The tools offered by Menthol Protocol are capable of being integrated into any aspect of the Web3 technology framework. This integration enables the automated computation of a company’s carbon footprint and the acquisition of tokenized carbon and renewable energy credits in the corresponding amount.