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Mozilla Foundation accepts cryptocurrencies again, except BTC

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The Mozilla Foundation, a non-profit organization that maintains Mozilla software and projects, such as Firefox, reported that it has returned to accepting donations in cryptocurrencies. However, there are caveats.

According to a blog post published by CEO Mark Surman, donations of digital assets based on the Proof of Stake (PoS) algorithm such as Solana will be accepted, but not those based on Proof of Work (PoW) such as BTC.

Mozilla and cryptocurrencies

The decision comes about four months after the Mozilla team gave up on receiving crypto donations. This was a result of the harsh criticism received due to the supposedly unsustainable mining process.

At the time, co-founder Jamie Zawinski, who has not worked for the company since 1999, was one of the critics. He said that cryptocurrency mining is “incinerated the planet” and added:

“Everyone involved in the project should be deeply ashamed of the decision.”

In light of this, Mozilla has decided to stop accepting BTC and other cryptocurrencies.

“In early 2022, Mozilla found itself in the midst of a heated discussion about cryptocurrency,” Surman said. “Mozilla, a non-profit organization, has been accepting cryptocurrency donations since 2014. But we haven’t reassessed that decision since Mozilla published its climate commitments. And since cryptocurrency’s environmental impact has become more apparent.”

Proof of Stake yes, Proof of Work no

According to Surman, the company used this period to increase its understanding of the environmental impact of cryptocurrencies. In addition, he rethought whether the foundation should continue to accept crypto donations or not.

Then, in the statement published on Thursday (6), Surman said that Mozilla has completed this review process.

“Starting today, we are updating our donation policy: Mozilla will no longer accept ‘proof of work’ cryptocurrencies, which consume more energy. Mozilla will accept ‘proof-of-stake’ cryptocurrencies, which consume less energy,” he said.

The executive also added that Mozilla will share a list of cryptocurrencies that will be accepted by the end of June.

As Surman pointed out, in January of last year Mozilla committed to significantly reducing its carbon footprint.

And PoW cryptocurrencies, he says, can significantly increase greenhouse gas emissions “due to their energy-intensive nature.”

“We believe that Mozilla can play a positive role in the industry by encouraging the cryptocurrencies we accept to be transparent about their energy consumption patterns,” he concluded.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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