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Blockchains should make money move like email — Stellar Development Foundation CEO

Denelle Dixon believes the success of blockchain protocols will hinge on the ability of traditional finance to move value on- and off-chain.

Blockchain protocols must allow financial assets to move seamlessly across traditional and on-chain infrastructures to achieve mainstream adoption.

Denelle Dixon, CEO of Stellar Development Foundation (SDF), hammered home this crucial point in a conversation with Cointelegraph during Paris Blockchain Week. 

“From the beginning, we’ve focused on making money move like email, but we really understood that to do that, you needed the on- and off-ramps and couldn’t rely on transacting with volatile cryptocurrencies,” Dixon said.

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Crypto drainers are retiring as investigators start to close in

Firefox dev Mozilla goes all-in on metaverse, acquires Active Replica

The legacy web developer and internet browser Mozilla announced its acquisition of Active Replica as part of its Hubs creator ecosystem to enhance digital experiences.

The web developer Mozilla, mainly known for its internet browser Firefox, has joined the rush of legacy internet platforms jumping into the Web3 and metaverse development space.

In a blog post announcement on Nov. 30, the company revealed its acquisition of Active Replica, an immersive experience developer.

Active Replica is joining Mozilla’s Hubs creator platform to help create virtual events. Already the virtual experience developer has worked with Mozilla during its multi-day arts and tech festival Mozfest earlier this year.

According to Mozilla the acquisition will also be important to accelerate in demand work, personalized subscription tiers, on-boarding improvements and adding new features to the Hubs engines.

In the official announcement released on Hubs, Mozilla said both companies will benefit from another either through one's scale or the other’s development capacity.

“Together, we see this as a key opportunity to bring even more innovation and creativity to Hubs than we could alone."

In Active Replica’s official statement it reiterated that it will continue to work with existing partners, but the Mozilla acquisition will help expand on their long term goals.

The following day, the company made another announcement that has also acquired Pulse, a machine learning developer, signaling Mozilla’s pivot to focusing on the future of the internet.

Related: Opera browser integrates Elrond blockchain services to bolster Web3 adoption

This development from Mozilla to build out its metaverse plans comes as the metaverse continues to draw attention both inside and out of the Web3 space.

After major monetary and staff losses in its metaverse development division, Meta, the Facebook and Instagram parent company, says its ‘powering through’ with metaverse plans.

Meanwhile, as activity is pouring into digital reality, global leaders like the World Economic Forum have begun to think about a universal metaverse policy. Currently there is no overarching policy which dictates digital reality. 

However new reports reveal that as activity increases so will the chances of exploitation, which signals the need for attention to policy and ethical standards. 

Crypto drainers are retiring as investigators start to close in

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

Mozilla to Reinstate Crypto Donations — Organization Will Not Accept Proof-of-Work CryptocurrenciesDuring the first week of January, the software community Mozilla revealed it was pausing cryptocurrency donations after citing environmental concerns. 14 weeks later, Mozilla decided last week it will accept crypto donations again, but only from digital assets that leverage a proof-of-stake (PoS) consensus model. Mozilla Plans to Accept PoS Crypto Assets Only, Executive Says […]

Crypto drainers are retiring as investigators start to close in

No Bitcoin: Mozilla will only accept Proof of Stake crypto donations

The company has decided to begin accepting PoS crypto again after an outcry against Bitcoin forced it to suspend such donations earlier this year.

The company behind the Firefox internet browser Mozilla is attempting to appease its environmentally-conscious community by accepting only Proof-of-Stake (PoS) crypto donations.

The company initially halted all crypto donations in January, but has now opened them back up after a review period to assess community sentiments and to conduct research on crypto energy usage.

PoS blockchains consume less than 1% as much electricity as Bitcoin, although they vary among themselves in efficiency as demonstrated by a February report.

Mozilla announced in a blog that after a review, it was changing its donations policies to come in line with its “climate commitments”. It said that: “Mozilla will no longer accept 'Proof-of-Work' cryptocurrencies, which are more energy intensive.

“Proof-of-Work cryptocurrencies can significantly increase our GHG [greenhouse gas] footprint due to their energy intensive nature.”

The company also said that the move was made based on its self-imposed Jan. 2021 climate commitments which aim for it to “significantly reduce our greenhouse gas footprint year over year” until it becomes carbon-neutral.

“Mozilla’s decision not to accept Proof-of-Work donations ensures that our fundraising activities remain aligned with our emissions commitment.”

By rejecting all non-PoS crypto, Mozilla is blocking both Bitcoin (BTC), the largest cryptocurrency by market cap, and Ether (ETH) — at least until the Merge occurs in the coming months and that blockchain adopts PoS.

Mozilla stated that it would release a list of accepted cryptocurrencies by the end of Q2, 2022. Some native coins from the most popular PoS chains include BNB Chain (BNB), Solana (SOL), and Avalanche (AVAX).

Among the mosvocal detractors of Mozilla’s new crypto donations policy was Mozilla’s own founder, Jamie Zawinski. He tweeted on Jan. 4 that those at Mozilla who are complicit with accepting Bitcoin “should be witheringly ashamed” to partner with the “planet-incinerating ponzi grifters.” Zawinski stopped working at Mozilla in 1999.

Director of Digital Strategy at American investment firm VanEck Gabor Gurbacs had harsh criticism for Mozilla’s decision to block Bitcoin donations. In an Apr 12 tweet, he called the move “misguided and virtue signaling in nature,” adding that “Bitcoin is one of the greenest industries out there.”

While Bitcoin annually consumes about 204.5 Terawatt hours (TWh) of energy according to data from blockchain researchers at Digiconomist, the actual effect on the climate is much more contested. Proponents contest that miners that secure the network are helping to strengthen energy grids and improve carbon efficiency while operations themselves are increasingly switching to renewable energy.

As reported by Cointelegraph last month, flexible data centers can be used for Bitcoin mining. Flexible data centers can switch between self-generated green energy and tapping into the public grid to reduce the overall environmental impact and stress on the public energy grid.

Related: Marathon Digital moves Montana BTC mine to pursue carbon neutrality

Crypto storage company Blockstream and Jack Dorsey’s Bitcoin development firm Block Inc announced on Apr 8 that they would work with Elon Musk’s Tesla to build a solar-powered BTC mining facility in Texas, the new hotbed of clean energy mining operations.

Crypto drainers are retiring as investigators start to close in

Bitcoin Mining Report Shows Network’s Emissions Account for 0.08% of the World’s CO2

Bitcoin Mining Report Shows Network’s Emissions Account for 0.08% of the World’s CO2During the last year, Bitcoin — the cryptocurrency network that leverages proof-of-work (PoW) to process transactions and secure the protocol — has received a lot of criticism about its environmental impact. This week, the cryptocurrency firm Coinshares published a report that shows talking points condemning the network’s electrical consumption have been greatly exaggerated. According to […]

Crypto drainers are retiring as investigators start to close in

Mozilla ‘Pauses the Ability to Donate Crypto’ After Complaints and ‘Environmental Impact’ Considerations

Mozilla ‘Pauses the Ability to Donate Crypto’ After Complaints and ‘Environmental Impact’ ConsiderationsOn December 31, the software community founded in 1998, Mozilla, announced it was accepting crypto-asset donations via Bitpay. However, shortly after the announcement, a number of people complained about the decision the company made. A week later, Mozilla has announced it is backing away from digital currency acceptance for now and has “paused the ability […]

Crypto drainers are retiring as investigators start to close in

Mozilla backflips on accepting crypto after ‘planet incinerating’ backlash

“Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters,” said Mozilla co-founder Jamie Zawinski.

The Mozilla Foundation has put cryptocurrency donations on hold following a community backlash sparked by trenchant criticism from co-founder Jamie Zawinski.

Last week the development company behind the Firefox browser tweeted an appeal for donations in cryptocurrency.

But earlier today, Mozilla announced it had paused crypto donations due to the online discussion around crypto’s environmental impact.

Mozilla said it will continue to explore decentralized web technology, but will only resume crypto donations if it fits with their climate goals. It said that in the spirit of open source, Mozilla will be transparent in the review process and share constant updates.

The drama began on Dec. 31st when the organization put out a call for cryptocurrency donations via the BitPay platform.

The non-profit’s post attracted the disapproval of some members of its community, including Mozilla co-founder Jamie Zawinski. Although he has not been associated with Mozilla since 2000 he criticized the organization in the strongest possible terms:

“Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters.”

In a blog published on his website on Jan. 5th Zawinski further talked about the cryptocurrency industry and what he argues is its unrealistic business model. Zawinski argue the industry manufactures pollution and turns it into money.

Some members of the community called for Mozilla to delete its call for donations and to spell out how accepting crypto was in line with its mission to fight the ongoing climate crisis.

Twitter user Melissa (@mcbyrne) said, "Bitcoin is bad for [the] climate," while @seglegs questioned why Mozilla was an "enabling environmental catastrophe" by supporting crypto.

Some community members pointed to a company blog about the organization’s climate commitments on Jan. 21 last year in which CEO, Mitchell Baker, is quoted talking about Mozilla’s and his commitment to protecting the environment and facing the climate crisis.

According to the New York Times, Bitcoin mining consumes more than 91-terawatt hours of electricity per year — nearly 0.5% of global electricity consumption annually.

Mozilla is only latest high profile example to face the ire of some users after making crypto and NFT related announcements. In recent months Ubisoft, Square Enix, Kickstarter, and Discord have all faced criticism due to the environmental effects of mining and professed concerns over crypto scams and frauds.

Popular video gaming company, Square Enix, faced criticism from gamers on social media when President Yosuke Matsuda showed appreciation for blockchain gaming, NFTs, and the metaverse over the weekend. Then again, money speaks louder than keyboard warriors and his comments led to a 8% gain in share price.

Related: New LGBTQ token aims for equity but raises red flags with community

Gaming giant Ubisoft faced harsh criticism by its users, upon announcing the launch of in-game NFTs on Dec. 7th. Despite a significant backlash, Ubisoft will continue with its initiative in the form of dynamic NFTs with Aleph.im.

Also in early December Kickstarter announced plans to develop a decentralized crowdfunding platform. Some users threatened to abandon the platform owing to the environmental impact of crypto.

On Nov. 9th, Discord’s CEO, Jason Citron, shared a tweet signaling the company’s intent to allow users to connect a crypto wallet with their accounts. Users expressed their concerns and talked about the amount of energy required to process blockchain transactions and the potential for money laundering and scams in crypto and NFTs.

Just two days after publishing the tweet, Citron backtracked and said the company had no current plans on integrating Web 3.0 concepts and is committed to protecting its users from fraud, spam, and scam.

Crypto drainers are retiring as investigators start to close in