In an announcement made on Monday at the Consumer Electronics Show in Las Vegas, Samsung Electronics America revealed a collaboration with Veritree, a blockchain-based climate solutions platform, to plant 2 million mangrove trees in Madagascar over the course of three months. Using blockchain technology, veritree manages the reforestation process and verifies that each tree is properly planted and cared for.
The tree-planting program is part of Samsung's nature-based action plan on environmental sustainability, which aims to trap and store carbon dioxide (CO2) from the atmosphere, among other objectives. Over a 25-year period, the objective is to recover around 200 hectares of land while sequestering approximately 1 billion pounds of CO2.
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It is the logistics that will be handled by Veritree, a software created by tentree, a sustainable fashion firm that plants ten trees for every piece of clothing sold. Veritree, which was developed as an accounting system, aims to increase openness across the whole process, from field-level data collecting through site design, tree inventory, and effect monitoring. A tree planter's phone is used to monitor trees that a sponsor has paid to plant. This results in a digital map of the matching digital trees being created.
Investing in creative technologies and so-called "nature-based solutions," according to Mark Newton, Samsung's director of corporate sustainability, is critical in the fight against climate change.
According to Samsung, mangrove trees are among the world's most efficient natural carbon sinks, accounting for as much as a quarter of global carbon dioxide absorption. Carbon dioxide (CO2) is captured and stored by mangrove roots, which are often submerged in water. As part of its aim to accomplish its 2 million tree objective by the end of the first quarter of this year, Samsung wants to collaborate with citizens of the Mahajanga area of Madagascar, which is experiencing widespread deforestation.
The endeavor to plant trees is part of Samsung's expanding commitment to environmental sustainability. Additionally, the business recently revealed a new smart TV portfolio that has an integrated NFT platform, in addition to employing renewable energy in the United States.
Solana, Terra, and Polkadot are growing more quickly than Ethereum
In Web3, according to Electric Capital, Ethereum still has the greatest ecosystem of developers. Yet other social media platforms continue to grow in popularity.
Ethereum, Polkadot, Cosmos, Solana, and Bitcoin, according to Electric Capital, are the top-five blockchain ecosystems in terms of the number of developers.
Polkadot and Solana are now undergoing more active development than Ethereum was at comparable stages in their history at the time of this writing.
An economic boom is the best way to get people on board with an idea or a project. More developers than ever before joined Web3 projects in 2018, after a crypto price peak in 2021 that set a new record.
A recent analysis from early-stage crypto investment company Electric Capital finds that many protocol ecosystems are surpassing the biggest developer environment currently available, Ethereum. Avalanche and Terra are among the cryptocurrencies with quicker initial ecosystem growth than Ethereum. "Polkadot, Solana, NEAR, [Binance Smart Chain], Avalanche, and Terra have faster beginning ecosystem growth than Ethereum," according to the analysis.
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The length of time from the first "commit," or update to the code, and the number of total engineers that have worked on the project since its inception are the criteria that the company utilizes to reach this decision. The developers in those six layer-1 ecosystems are more active when compared to Ethereum, which is at a comparable level.
According to Electric Capital, the developer's development trajectory is as follows:
Decentralized finance (DeFi) activity has exploded in the last year, with Solana, Avalanche, BSC, and Terra all establishing themselves as new centers for peer-to-peer lending, swaps, and other transactions via their own networks. They have seen an increase in their token pricing as a result. Also this week, NEAR announced the integration of DeFi components, which caused the value of its native token to reach a new all-time high. Also in December, Polkadot released "parachains," which are basically smaller blockchains that may be added to the network after many years of development.
It is possible that someone may complain that Electric Capital's long analysis misrepresents the total worth of Ethereum while boosting the value of competitors, therefore the report contains various factors that put ecosystem growth into context.
First and foremost, it acknowledges that "not all contributions are created equal" in terms of time spent, and it restricts its scope to open-source code repositories, which has the consequence of undercounting the overall number of developers.
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