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Blockchain carbon credits facing crypto rout

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Like all thing crypto right now, it’s also been a tough time for blockchain based carbon credit protocols during the last quarter.

They have been subject to the same market pressure as the rest of the industry, which is struggling to regain its footing since the collapse of Terra.

The sector is also facing ongoing questions about the quality of the credits being traded inside the base carbon tokens.

In April, researchers at Carbon Plan found that 28% of the Verified Carbon Units traded in on the Toucan Protocol were from “zombie projects.”

The sector is also facing structural issues around retired credits

The Paris Agreement prohibits the trading of credits from carbon offset projects registered before 2013. But these older projects are being traded on the Toucan protocol as recently as November last year.

The sector is also facing structural issues around retired credits too.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Crypto

Russian Police investigate a crypto mining facility

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Russian Police are investigating a crypto mining facility, which is suspected of defrauding clients

It’s understood the miners handed devices to those who were running a mining hotel.

They are also accused of stealing their expensive coin minting hardware, and stopping payments to their customers.

The scam allegedly took place from November to May, where the suspects worked with people who wanted to install their coin minting hardware in a mining hotel.

They were offered electricity prices that were below market value.

Electricity consumed by some of the world’s largest cryptocurrencies has dropped by nearly half.

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Crypto

Gucci goes big in metaverse with new Vault Art Space

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Forward thinkers who love fashion, this exhibit is for you

Luxury brand Gucci has opened a Vault Art Space as it continues to explore the art world and the metaverse

Gucci inaugurated the gallery in a partnership with NFT marketplace SuperRare

The debut exhibit is titled “The Next 100 Years of Gucci”

Spring Cry by Alanna Vanacore

Keep your eye out for a special selection of NFT artworks, each a collectible fragment of Gucci’s heritage.

The artworks are showcased and auctioned off directly on Vault’s website in three drops between now and the end of July.

All sales will be in Ethereum.

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Crypto

Ethereum to finally undergo shift to new energy model

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Ethereum is about to undergo its long awaited makeover, which will see the company shift from its energy intensive model.

The crypto has been working to shift from its proof-of-work method to a proof-of-stake model, which requires far less power than mining.

Crypto currencies have been criticised for their mining processes to generate new coins. But this new method will be eco-friendly and lead to faster transactions.

The transition has been repeatedly pushed back because of major flaws.

But developers reportedly say the latest test run was very smooth.

The price of Ethereum has lost nearly half its value this year and is trading at just over $1,800 USD.

Investors will continue to keep an eye out on what will come out of this upgrade.

Meanwhile, Bitcoin investors can enjoy a sigh of relief as the cryptocurrency bounces back after months of turbulence.

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