• VeChain has unveiled a tracking feature that can measure the carbon emissions of every transaction on its platform.
• The feature is powered by the VechainStats data analytics and block explorer platform, which provides advanced tools for all on-chain metrics.
• The carbon calculator tracks CO2 emissions and helps users get transparent feedback on their carbon footprint.
VeChain Unveils Carbon Emission Tracking Feature
VeChain has recently unveiled a key feature that is poised to make a name in the blockchain industry—the ability to track carbon emissions generated by transactions on its network. Using the VechainStats data analytics platform, users can measure the carbon cost of activity in real-time. This feature places VeChain in a positive light, as conversations about digital sustainability have intensified over the past few years.
The feature is powered by VechainStats, an advanced data analytics and block explorer platform for VeChain transactions, tokens, Non-fungible tokens (NFTs) and more. It has been available for more than 5 years since it was founded in 2017. The platform provides tools for all on-chain metrics and uses a built-in carbon calculator to track CO2 emissions related to each transaction taking place on its network.
By introducing this new feature, VeChain is aiming to revolutionize how businesses and customers interact with each other in order to reduce their environmental impact. This could open up a billion dollar market as businesses look to meet their sustainability goals while also reducing costs associated with traditional methods of measuring carbon emission levels such as manual auditing or costly sensors.
Steering Committee Voting
In order to ensure the success of this project, VeChain and its community members have successfully completed all rounds of its Steering Committee voting process—a set of rules that decide how decisions are made within the company’s governance structure. By having these measures in place, it ensures that everyone involved is working together towards achieving digital sustainability through blockchain technology.
Digital Sustainability Revolution via Blockchain
Carbon emission tracking is part of VeChain’s mission to contribute towards digital sustainability through blockchain technology—a revolution that will ultimately benefit both businesses and consumers alike when it comes to reducing their environmental impact without incurring high costs associated with traditional methods of measuring such data points.