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Evadore,s End-to-End Blockchain Products to Stem Global Carbon Emissions
Due to the tremendous amount of energy required for the digital mining of cryptocurrency, environmentalists are concerned that its increasing popularity will leave a huge carbon footprint.
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CIO Applications | Monday, May 29, 2023

Evadore Contributes to global sustainability efforts to reduce carbon emissions from the increasing mining of Bitcoins.
FREMONT, CA: Due to the tremendous amount of energy required for the digital mining of cryptocurrency, environmentalists are concerned that its increasing popularity will leave a huge carbon footprint. Bitcoin's price increases as it becomes more successful; the higher the price, the greater competition for Bitcoin; therefore, the greater the energy expended in mining it. With the price of cryptocurrencies rising, the incentive to mine them will also increase, creating a feedback loop detrimental to the environment.
"Data from the University of Cambridge estimates that Bitcoin will emit around 62 megatons of carbon dioxide equivalent each year at the current velocity of mining," says EvaLabs Community Chief Timothy Walker and adds: "This is equivalent to Serbia's total carbon emissions in 2019."
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A nonprofit and regenerative finance (ReFi) company, Evadore, aims to accelerate global sustainability efforts by reducing emissions. Many of Evadore's products promote using renewable energy sources worldwide, including Eva Chain, EvaStore, EvaPay, GreenWallet, EvaForest, and CarbonEva.
In addition to generating income from its projects, EvaLabs excludes blockchain costs to carry the world forward toward a more sustainable future. Using cryptocurrency and blockchain technologies, EvaStore, the network project product, seeks to end the climate crisis by transferring carbon credits purchased to projects that aim to reduce greenhouse gas emissions.
GreenWallet aims to provide cryptocurrency investors with a sustainable and multi-currency cryptocurrency wallet, and EvaForest aims to plant forests worldwide to reduce carbon emissions. With EvaLabs' EvaPay solution, users can calculate their daily carbon emissions and receive tips on reducing them, while CarbonEva offers users a first-class environment-friendly cryptocurrency payment technology. The Eva Chain blockchain is used for all transactions in the Evadore ecosystem.
Timothy Walker says, "with a focus on sustainability, social justice, and environmental responsibility, ReFi's enabler is blockchain, which is a decentralized, secure, and transparent system with the potential to transform various industries. And EvaLabs will be the pioneer of this transformation."
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