Mozilla to Reinstate Crypto Donations – Organization Will Not Accept Proof-of-Work Cryptocurrencies

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Mozilla to Reinstate Crypto Donations – Organization Will Not Accept Proof-of-Work Cryptocurrencies – Mozilla, a software community, said in the first week of January that it was suspending bitcoin payments due to environmental concerns. After 14 weeks, Mozilla said last week that it will once again accept crypto donations, but only from digital assets that use the proof-of-stake consensus process.

The Mozilla Foundation’s executive director, Mark Surman, released an update on April 7 about the software community’s decision to pause crypto donations.

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Surman said the charity decided to stop crypto donations after Mozilla revealed its climate commitments and after Mozilla staff and supporters complained. Mozilla decided to look into the environmental effects of cryptocurrencies more thoroughly, and Surman’s blog post explains the results.

Surman’s update explains, “Starting today, we are revising our donation policy.” “Mozilla will no longer support cryptocurrencies based on ‘proof-of-work,’ which are more energy-intensive.

Mozilla will accept less energy-intensive ‘proof-of-stake’ cryptocurrencies. By the end of Q2 2022, Mozilla will compile and release a list of cryptocurrencies it accepts,” the Mozilla Foundation executive director stated.

Surman explained that the decision is mostly based on the organization’s climate commitments, which aim to “exceed the Paris Climate Agreement’s net-zero emissions objective.” Proof-of-work (PoW) digital assets, according to the Mozilla Foundation, “substantially increase our GHG footprint.” Surman highlighted that the decision to stop accepting PoW cryptos is aligned with Mozilla’s emissions efforts.

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“As part of our climate commitments, we vowed to assist in the development, design, and improvement of sustainable products,” Mozilla’s executive director concluded. “We feel Mozilla can have a beneficial impact on the industry by promoting those cryptocurrencies that are open about their energy usage trends, which we accept.”

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