Bitgreen, the company building blockchain’s epicenter for sustainability, activates its parachain on Polkadot. Going live just two months after winning its parachain auction, Bitgreen paves a way for sustainability and impact-investment projects to build communities and raise funds through its blockchain platform.
Despite the mounting urgency to solve the climate crisis, leading governments are falling behind in reaching necessary funding goals. This gap in financial action immediately affects the most vulnerable communities impacted by climate disasters. For instance, funding pipeline blockages cause critical initiatives like climate adaptation infrastructure to receive under 10% of the estimated $340 billion in support it will require by 2030. Projects of all scopes conducting vital work in climate development and humanitarian aid must now seek different avenues to attain funds.
Bitgreen responds to this critical shortfall with a novel infrastructure for grassroots-level sustainability and impact projects to find a global investor community. By launching its chain on Polkadot, a Proof-of-Stake network which consumes 99.9% less energy than other leading blockchains, Bitgreen empowers projects to sustainably raise funds for critical initiatives combating climate change and humanitarian crises. Additionally, the chain activation enables Bitgreen token holders to stake their assets and participate in projects and dApps launched natively on the network.
The chain activation comes on the heels of Bitgreen winning the 29th Polkadot parachain auction in October 2022 through a private bid. Bitgreen’s quick turnaround from its auction win to going live demonstrates the platform’s readiness to launch following a year of development and outside investment.
This ongoing development has resulted in Bitgreen completing its token generation event in time for the chain activation. Likewise, the platform has launched a Polkadot collator network to actively maintain the parachain throughout its operations.
“Going live with our chain on Polkadot is a milestone we’re thrilled to have reached in such a short time,” says Adam Carver, President of Bitgreen Switzerland. “Activating a platform is a challenge that not every project is able to tackle, and we’re proud to have prepared for this moment for the last year and welcome user accounts that will gravitate to Bitgreen in 2023.