• Sun. Jul 14th, 2024

VeChain Files for a Crypto Patent to Even out the Detrimental Carbon Emissions

Christian Klausen

ByChristian Klausen

May 5, 2021

VeChain is a crypto enterprise that has prepared a patent petition for its latest innovation. The blockchain owned by Enterprise is introducing an innovative technology that has the potential to slow down the dangerous levels of carbon emissions during a standard crypto mining process. VeChain executives Jianliang Gu and Xinli Tian, alongside CTO Ziheng Zhou, would be the beneficiaries of the patent. 

The patent application would be addressed to the Federal Agency Patent and Trademark Office of United States (USPTO). The application is directed towards the workings of the registration method, mining devices, blockchain nodes, and carbon recording system adjacent to crypto trading.

The first object of this new technology is to record the data for carbon emission behaviors and convert it into simplified forms that could point towards patterns. This data stream could be placed on the blockchain for trading as a transaction. A carbon credit would generate with a unique blockchain ID in this manner. The users would be able to deploy these carbon credits in a blockchain transaction for the purchase of goods and services with at least one smart contract.

The data aggregator employs the Internet of Things (IoT) to determine a baseline carbon emission amount or BE. These readings can be registered as hashed values when a hash operation is performed. The immediate implementation of this mechanism can be employed on electric vehicles since the data could be transferred from the computing device to blockchain nodes. 

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Carbon Emissions Transparency could be Achieved with Vechain’s Global Technology Innovation

The crypto enterprise is determined to use this new technology of recording credible carbon data to ensure absolute transparency for data collection without the interference of third-party platforms. The developers of the mechanism are also determined to work out a secure and tamper-proof platform for institutions for storing their carbon emissions data. 

In its patent filings, VeChain has mentioned that greenhouse gases are the biggest cause of global warming. The native token of VeChain, VET, is trading at $0.21 for the time being. The digital asset has seen a monthly appreciation of 125%. The discovery would give the token a gains break in the market. VeChain was also mentioned in the Forbes Blockchain 50 during the third year of its conception. The list included the likes of industry giants like PayPal, Ant Group, Binance, Coinbase, Samsung, Square, and MicroStrategy, among others. 

Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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