EcoLedger is a BFT (Byzantine Fault Tolerant) Consensus Protocol written on the Hyperledger Fabric. It is a modular Blockchain Technology which can operate on either permissioned or distributed networks. EcoLedger supports both smart contracts and tokenization. The EDLT (Ecoledger Distributed Ledger Technology) is optimized for energy efficiency (i.e. no mining), with transactional speeds greater than 100k/tps.
A Carbon credit is a data-driven concept and makes use of multiple approval procedures that exist separately but are correlated. Thus, it can perfectly be targeted by Digisphere technologies. The EcoLedger is a digital ledger in which specific transactions (consisting of unique keys) are recorded in an orderly manner to reside in the public domain. It has the capability to increase the transparency, accuracy, and trustworthiness in the realm of carbon credits and other climate related digital assets.
Blockchain can eliminate the risk of double counting and can embolden the trustworthiness, which in turn reduces the energy consumption and will attract the participation of private finance, microfinance and crowdfunding, etc.
EcoLedger can fairly address the damages or losses arising from climate change since it can track critical data, events, insurance risks and can identify the people adversely affected by it too