There has been talk for some time about which blockchains are the most sustainable and environmentally friendly that could compete with Ethereum. Of all the existing blockchains on the market, almost everyone considers Cardano to be one of the greenest, with an increasing focus on environmental sustainability.
Cardano: the green blockchain plants 1 million trees
During the Cardano Summit 2021 at the end of September, the Cardano Foundation announced a partnership with Veritree for an ITO (Initial Tree Offering) aimed at planting 1 million trees.
A few days ago, the company announced that it had reached its goal.
The announcement was made via a Tweet on 9 January by Frederik Gregaard, president of the Cardano Foundation.
What an achievement! The #CardanoForest is 100% funded, we’ve reached the 1 million trees milestone. The success of this first Cardano Global Impact Challenge for the Cardano Ecosystem truly shows the power of our community.
— Frederik Gregaard (@F_Gregaard) January 9, 2022
Gregaard also announced one of the first specific green projects on which the foundation will focus its efforts through this commendable green initiative.
“The Cardano Forest will support land restoration and local ecosystem development activities in Mombasa, Kenya. All trees planted will be recorded on the Cardano blockchain for enhanced transparency and serve as public proof of land restoration activities”.
The partnership with Veritree
The Cardano Foundation worked on this initiative with the support of startup Veritree, which uses blockchain technology to record the supply chain of tree plantings for its users, enabling verifiable tracking of these activities.
Veritree plants a tree every time Cardano’s ADA currency is exchanged for a TREE token. A single donor reportedly purchased 100,000 tokens for a value of about $118,000.
A few days ago, the company concluded a deal with the Korean technology giant Samsung to plant 2 million trees in Madagascar.
Is ADA’s price ready to rebound?
After a very promising start to 2021 for ADA’s price, which led to the cryptocurrency reaching a high in August at over $2.6, the cryptocurrency lost ground in the second half of the year and is now trading at just over $1.2.
However, 2021 was overall a very positive year for the cryptocurrency, which jumped to sixth place among the most capitalized cryptocurrencies with almost 50 billion in value.
According to many analysts, 2022 could be the year of final consecration for the cryptocurrency of the Cardano blockchain. Experts say that the record high reached in August was due to the launch of the new Alonzo update, the result of six years of hard work, as stated by Cardano founder Charles Hoskinson during the launch.
The drop was therefore physiological and not dictated by reasons relating to the cryptocurrency, which still seems to be a favourite of crypto investors. According to the AI prediction algorithm model for cryptocurrencies, Wallet Investor, the price of ADA in 2022 will beat its all-time high, reaching over $3.
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