Are you contributing to a better climate and environment? More people are realizing that it is important to do something now to make our world more sustainable. We all use a lot of energy, which exhausts the world. Blockchains and cryptocurrencies also contribute to this, because a lot of energy is needed to make blockchain work. For every transaction you perform, you are responsible for a small part of the ecological footprint of the cryptocurrency.
Fortunately, more and more companies and projects recognize that something needs to be done. They do not leave it at that and decide to take the first steps towards a sustainable world themselves. Brokoli Network (BRKL) is one such project. Despite being a fairly new project, it’s definitely worth learning more about it.
In this article, we tell you what Brokoli Network is, and how this project works to make the world a more sustainable and greener place.
What’s the problem?
Blockchain makes it possible to carry out transactions in a secure, transparent and decentralized manner. To be able to successfully apply this technology, it is necessary to run a large number of machines. These machines are all connected to each other, in order to guarantee safety. You can imagine that this has a major impact on energy consumption and ecological footprint.
In terms of energy consumption, Bitcoin is the worst performing, but also the oldest cryptocurrency. The Proof of Work (PoW) consensus algorithm enables secure and fast transactions without having to trust a third party. For this to work, a large number of computers must solve complex mathematical puzzles. In February of this year, this “digital gold” accounted for 70% of the cryptocurrency market cap. The company’s annual carbon footprint is comparable to New Zealand’s.
The Ethereum protocol and its eponymous currency is a blockchain technology that emerged shortly after Bitcoin. It goes further and provides the basis for all kinds of smart, complex and transparent contracts, which again do not require the intervention of a third party. Although faster than Bitcoin, Ethereum is unbeatable and reportedly has an ecological footprint comparable to Lithuania’s. Several cryptocurrencies are powered by Ethereum, but hundreds of other alternative protocols of all kinds have emerged in recent years, all of which are more efficient and require less energy to run.
Over the past year, non-fungible tokens (NFT) have been in the news a lot. This makes it possible to authenticate a unique digital work, thanks to the blockchain. These NFTs can be sold and their value increased. While this represents a true revolution for the art market, NFTs are strongly criticized for their lack of ecological character. Indeed, a series of works can be equivalent to the annual CO2 consumption of a European citizen. Most of these NFTs operate in Proof of Work on the Ethereum protocol, but other more ecological solutions exist and are emerging.
You probably understand that something needs to be done to lower the carbon footprint of cryptocurrencies and blockchains so that it can become a technology that lasts. This issue was also known to the team that developed a blockchain project called Brokoli Network. They want to make an impact on the world by ensuring that the blockchain world becomes a bit greener.
What is Brokoli Network?
Brokoli Network is a protocol that focuses on making the blockchain and cryptocurrency world more sustainable. It does this by combining the most popular components of cryptocurrencies: NFTs, metaverse, and play-to-earn games.
Brokoli Network’s main product is a protocol that allows users to calculate the environmental footprint of an action they perform. For example, consider performing a transaction on a DEX, or playing a game using a dApp.
Brokoli Network has developed a mechanism to save on slippage. The remaining part can then be invested in projects that improve the world in an ecological way. Consider, for example, the removal of plastic from the oceans or the creation of large forests.
This mechanism will be used for the proprietary DEX that Brokoli Network is developing. Ultimately, other projects can also make use of this mechanism. There will be an API that will allow the protocol to be integrated into other projects. This will make it possible, for example, to contribute to a green world when you use Uniswap or SushiSwap (if they integrate this protocol).
Received from NFT Trees
The idea of Brokoli Network does not stop here. We said that they also use NFTs and the metaverse. When a user has ‘donated’ money to a greener world, they receive an NFT Tree as a thank you. This is a tree in NFT form, and the value of the tree is determined by the contribution someone has made to the climate.
Users can place these trees in the Brokoli Network metaverse. By collecting many trees, users can then create a real forest. When users reach a certain value with all NFT Trees, they can convert their forest into Brokoli Impact Credits, and the forest has become a Digital Forest.
These credits can be bought by companies if they want to show that they have made a positive impact on the climate. For example, consider an organization that has planted a physical forest.
The image below shows a screenshot of the Brokoli Network dashboard. Here people can see how much impact they have made on a better climate, and where their donations have gone. By providing transparency, the team behind Brokoli Network wants to ensure that users don’t have to worry about their donations ending up in the wrong pockets. For many people, this is a reason not to donate money.
How does Brokoli Network work?
Brokoli Network is a protocol that runs on the Ethereum blockchain. The first product to be delivered is a decentralized exchange (DEX) which is based on Uniswap. This means that the DEX is in fact a copy of Uniswap. That is not a bad thing, because the DEX itself is not what makes Brokoli Network unique.
If you have ever used a DEX, you know that you can set a slippage. This ensures that amounts are covered in the event of rapid price changes. However, the Brokoli Network mechanism is much more responsive to such price changes, leaving slippage. Users can choose to donate this leftover slippage to charities that are committed to the climate and the environment.
The moment users want to make a transaction, the DEX also shows how much is being emitted to execute the transaction. This should make users aware of the impact they are making on the climate, and then encourage them to donate their slippage for a better climate. Brokoli Network relies on research once done by another company, which we’ll talk about later in this article.
The protocol used will not only be available on the Brokoli DEX. Instead, other developers can also use this mechanism for their applications. There will be an API gateway that will allow developers to integrate the application quickly and easily.
You could say that the Brokoli DEX mainly serves as an example. In the beginning, this will be the only application using this application. This can help other people become familiar with the protocol, after which the team behind Brokoli Network hopes that several projects will integrate this application into their application.
Since Brokoli Network runs on Ethereum, they can easily use NFTs. However, minting an NFT takes a lot of energy. So much energy, that Brokoli Network is almost ashamed to integrate it into their solution. That is why they have chosen to use Immutable X. This is a layer 2 solution that ensures that much less energy and hardware is required to be able to mint an NFT. This means that a lot fewer emissions are released when users receive such an NFT.
Users receive an NFT when they make a positive contribution to the climate. They can do this by performing certain tasks determined by Brokoli Network, directing others to Brokoli with a special link, or by promoting Brokoli Network on social media. For example, think of influencers.
GameFi and Metaverse
GameFi and the metaverse have become extremely popular among crypto and blockchain users. GameFi includes play-to-earn, which means that users can earn money by playing a game that runs on the blockchain. The metaverse is a virtual world in which users can interact with each other. Brokoli Network combines these two components and adds a sustainable sauce, which encourages users to be sustainable.
The NFTs that users receive place them in their own land in the metaverse. Growing a forest allows other people to see how well someone is doing. This game element should make players want their forests to grow bigger and bigger. A forest grows by collecting NFTs and storing them in your wallet. You then link the wallet to the metaverse.
Users can also earn money from this. By creating large forests in the metaverse, Digital Forests are created. These forests can become worth a lot of money, after which they can sell the forests to NGOs or other charities that want to make an impact on the climate. They use these Digital Forests as proof of their impact on the environment, animals, climate and people. They can then use this as a marketing tool, making companies compete with each other. Of course, every company wants to have the largest possible Digital Forest, because that shows that they are the most sustainable company.
Proof of Concept
The idea seems nice, but how can the team behind Brokoli Network be so sure that users will choose to donate money to a greener world when making a transaction? They rely on the Norwegian company CHOOOSE.
CHOOOSE offers an API for all kinds of websites. For example, consider a webshop. The webshop could use CHOOOSE’s API on their payment page, after which it is displayed what the emissions are on the climate to fulfill the order. Then, users are given the option to pay a small additional amount that will help them reduce emissions.
Research has shown that when users have the option to pay an additional amount that reduces emissions, they are happy to take advantage of it. Despite that, until now there are no DeFi applications that offer this option, which is why Brokoli Network has chosen to change this.
Curious what the DEX from Brokoli will look like? The image below gives you an idea of this. Below the graph is shown how much energy is needed to execute the transaction, and what impact you can make by using the Brokoli Network protocol.
When you believe in the Brokoli Network project, you can proceed to purchase the BRKL token. By buying the BRKL crypto, you ensure that the protocol can develop further.
Plastiks is also working on a better world
Brokoli Network is not the only protocol working towards a green and sustainable world. Another project motivated to make the world a better place is Plastiks. They work in much the same way.
Plastiks has developed a marketplace for the blockchain, where recyclers and plastic products come together. The products of Single-Use Plastic, called SUP, can indicate that they want their plastic recycled. They can sell the proof of this on the marketplace as NFT to a company that takes care of the recycling.
It is clear to everyone who is in possession of such an NFT. This ensures that companies can use it as a marketing tool, and thereby recycle as much plastic as possible. Ultimately, this will make the world a cleaner place, because less plastic will end up in the environment.
Plastiks also has its own token, called the PLASTIK token. The Plastiks crypto is for sale on various crypto exchanges, and by buying it you contribute to a cleaner world.
It is clear that we have to do something about the climate. When you make extensive use of blockchain technology, for example by trading with cryptocurrencies, you contribute to the ecological footprint of this industry. It takes a lot of energy to run a blockchain.
Brokoli Network is a protocol that aims to ensure that users can contribute to a better world. With their mechanism, part of the slippage remains that can be invested in sustainable projects. Think, for example, of creating a forest or cleaning up plastic in the ocean.
When users contribute, they receive an NFT Tree as a thank you. By saving enough trees, users can create a forest in the metaverse. They can then also walk through the forests of other users. When they have saved enough trees, it is possible to convert the forest into a Digital Forest, which represents Brokoli Impact Credits. These can be sold to other companies and serve as proof of having a positive impact on the climate.
Fortunately, there are enough companies and people working on making our world more sustainable. In addition to Brokoli Network, Plastiks crypto is also working on this. They mainly focus on recycling plastic, with their PLASTIK token. So, what are you waiting for to help build a sustainable future?
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com