By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Sign In
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
  • Home
    • About us
    • About Hinza Asif
  • News
    • Cryptopedia
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • Altcoin News
    • Latest Metaverse & NFT News
      • Metaverse & NFT Games
      • Virtual Land
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
    • Event List
Search
  • Advertise with us
  • Media Kit
  • 365 Media Plan
  • Submit Press Release
  • Submit NFT Project
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Mozilla’s Policy to Only Accept PoS Crypto: Is it a Good or Bad Decision?
Share
Web3,Blockchain & Metaverse Education Media PlatformWeb3,Blockchain & Metaverse Education Media Platform
Search
  • Home
    • About us
    • About Hinza Asif
  • News
    • Cryptopedia
    • Latest Metaverse & NFT News
    • Exchanges News
    • Policy & Regulation
    • Web Stories
  • Press Release
    • Sponsored Article
    • Submit Press Release
  • Interviews
  • Expert Alliance
    • About Expert Alliance
    • Expert Alliance Benefits
    • Experts List
    • Apply for Expert Alliance
  • Guide
    • NFT Review
    • Game Review
    • Submit NFT Project
  • Videos
  • Events
    • Event List
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Submit NFT Project
  • Careers
  • Contact us
  • Privacy Policy
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
  • Global
  • Japan
  • South Asia
  • Partners
  • Community
HOME > News > CRYPTOPEDIA > BITCOIN NEWS > Mozilla’s Policy to Only Accept PoS Crypto: Is it a Good or Bad Decision?
BITCOIN NEWSBLOCKCHAIN NEWSNews

Mozilla’s Policy to Only Accept PoS Crypto: Is it a Good or Bad Decision?

PR.Dept
Posted PR.Dept April 13, 2022 887 Views 4 Min Read
Updated 2022/06/02 at 8:57 PM
Share
Mozilla, Mozilla crypto, Mozilla crypto donation, crypto donation, bitcon, trading, blockchain, BTC, BTC price, bitcoin wallet
SHARE

Mozilla recently announced it will only accept donations from proof-of-stake cryptocurrencies, which means no Bitcoin payments will be accepted. Is it a good decision or a bad one?

With the popularity of blockchain and cryptocurrency, many environmentalists have criticized its high-consuming energy use to operate. Since blockchain has to run 24/7, energy consumption is considered to be harmful to the environment.

Mozilla, the company behind the Firefox browser, faced a huge backlash from the environmentally-conscious community for sabotaging the environment by working with crypto brands. It had been receiving donations through cryptocurrencies since 2014, but it was attacked for two-timing following its environmental commitments, which involved reducing its greenhouse gas footprint; announced in January 2021.

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

Thus, Mozilla halted all projects and partnerships with cryptocurrencies in January.

Last week, we tweeted a reminder that Mozilla accepts cryptocurrency donations. This led to an important discussion about cryptocurrency’s environmental impact. We’re listening, and taking action. 1/4

— Mozilla (@mozilla) January 6, 2022

However, on 7th April, Mozilla released a statement saying it will continue accepting donations, this time only through cryptocurrencies that operate on the proof-of-stake (PoS) model.

The reason they gave was that the proof-of-stake model consumes less energy than the proof-of-work (PoW); therefore, it would only take donations from crypto that operate on PoS.

An update to our policy on accepting cryptocurrency donations.

We got it wrong, we heard you, and we've evolved. https://t.co/0bSThVJsCC

— Mozilla (@mozilla) April 7, 2022

Mozilla further detailed that its decision “…ensures that our fundraising activities remain aligned with our emissions commitment.”

Currently, some coins utilize PoS like Solana (SOL), Avalanche (AVAX), and BNB Chain (BNB). However, Bitcoin is the largest cryptocurrency in the world that operates on the PoW model.

Ethereum also works on PoW, but its ETH 2.0 version will transition to the PoS model soon, until then Mozilla will not accept donations from it.

Mozilla’s decision to not accept Bitcoin donations might sabotage its fundraising efforts because most users use this cryptocurrency. Furthermore, experts claim Bitcoin to be more environment-friendly than any other crypto.

VanEck Gabor Gurbacs, Director at a U.S. investment firm, says Mozilla’s decision to not accept Bitcoin is entirely wrong. He called Bitcoin “one of the greenest industries out there.” According to Digiconomist, Bitcoin consumes about 204.5 Terawatt hours (TWh) of energy, which is quite less.

BTC, BTC price, bitcoin crypto, bitcoin wallet, bitcoin, crypto. trading, blockchain

Despite the criticism, Mozilla stands firm on its donation policy.

Mozilla’s policy might result in receiving fewer funds, but its efforts to satisfy environmental commitments might work well. Although there is no guarantee that people might find it acceptable for the company to take crypto donations, this policy might convince people a little bit.

However, Mozilla’s decision to not accept Bitcoin can lead to a bad decision seeing how big the Bitcoin community is.

The solution to Bitcoin is to reduce carbon consumption by switching toward renewable energy consumption in Bitcoin mining, which is possible if the blockchain adopts flexible data centers.

Although excluding Bitcoin could be a bad decision for Mozilla, the future prospects will show how Mozilla’s policy will impact the overall crypto community and Mozilla’s own community.

NFTStudio24 aims to provide the latest NFT and crypto NEWS and you can also check out upcoming NFT collections featured on our platform.

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook Twitter Whatsapp Whatsapp
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Indian twitter account hack, indian hacker, hacker, twitter accout hack, twitter accout hacker High Profile Indian Twitter Got Hacked, NFT Content Posted
Next Article genies NFT, genies avatar, genies, NFT, NFT marketplace, genies logo, logo, Dapper Labs, blockchain Silver Lake values Genies worth $1B following its $150M investment
Leave a comment

Leave a Reply

You must be logged in to post a comment.

Don’t miss the NFT Drops! Sign up Now

I have read and agree to the terms & conditions

Latest Tweet

Tweets by nftstudio24
  • INTERVIEW, NewsJan 13, 2023

    NFTStudio24 Interview with Michael Sofaer from Pylons, Ryan Day from Blockworks, and Nick Vale from ReNFT

    NFTStudio24 held a podcast interview with Michael Sofaer from
    Read More
  • PRESS RELEASESep 21, 2023

    Partnerships Announced at Climate Chain Coalition Press Conference at UNFCCC Conference in Bonn

    Bonn, Germany, June 1, 2023,  The Slovenian Ministry of
    Read More
  • EVENTS, WEB3Sep 20, 2023

    Stablecoin Summit 2023: How Stablecoin Growth Potential in Asia & Beyond Can Empower Emerging Economies

    Stablecoin Summit concludes its first conference in Singapore by
    Read More
  • PRESS RELEASE, WEB3Sep 20, 2023

    Next Block Expo Returns to Berlin – Leading European Blockchain Festival to be Held on December 4-5th, 2023 at CineStar CUBIX, Alexanderplatz.

    Next Block Expo (NBX), the Blockchain Festival of Europe,
    Read More
  • PRESS RELEASESep 20, 2023

    Blockchain Economy Dubai Summit 2023: Just Two Weeks Away and Buzzing with Anticipation

    Dubai, UAE —The Blockchain Economy Dubai Summit is generating
    Read More
  • EVENTS, WEB3Sep 19, 2023

    TOKEN2049: Singapore Sparks Bullish Sentiment, NFTStudio24 Concludes its Successful Trip

    TOKEN2049 is all about being bullish and celebrating the
    Read More