Mozilla halts its crypto donation after facing criticism. The company, Mozilla Foundation is already putting a stop to its ability to accept donations in crypto after being criticized by a number of persons including a founding member of the Mozilla project.
Mozilla Halts Its Crypto Donation after Facing Criticism
The foundation oversees the development of the popular Firefox browser and it acknowledged conversations around the environmental impact posed by Cryptocurrencies on Thursday and cited that it is reviewing whether its present policy on cryptocurrency donations “fits with our climate goals.”
In a tweet thread, pledging to be forthcoming regarding the updates of its review, the foundation said, “decentralized web technology continues to be an important area for us to explore, but a lot has changed since we started accepting crypto donations.”
The foundation began facing criticism after it invited uses to donate to the platform using several cryptocurrency tokens and this is including bitcoin.
Criticism from Top Officials and Partners of Mozilla
A founder of Mozilla, Jamie Zawinski in a response to its tweet cited dismay at the move made by the foundation. He said, adding an expletive that, “everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi gifters.”
Founder of Gecko, the engine that helps power the browser, Peter Linss, joined in on the conversation and told Mozilla that the move was “meant to be better than this.”
Other Companies in Similar Situation Before
This is not the first time a major company has faced criticism for mixing itself with bitcoin due to environmental reasons. Telsa last year may abandoned its option of accepting bitcoin as a means of payment for its products just a few months after introducing it as an option.
Elon Musk at the time said that the company was “concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal.” He later said that the firm would “most likely” accept bitcoin again if the mining rate for the cryptocurrency gets to 50% renewables.
Bitcoin Mining Problems
Inquiries around the ecological impression of Bitcoin have been connected to how different tokens are made. Bitcoin and Ethereum utilize an instrument called proof-of-work to drive their organizations and mint new squares of every cash.
This estimation, by configuration, has become more mind-boggling throughout the years as the organizations developed and brought forth an industry of firms that run huge numbers of GPUs nonstop to take part in settling the riddle.
Bitcoin mining burns through around 148 terawatt-long stretches of energy every year, the Cambridge Center for Alternative Finance gauges. Numerous digital money advocates have, notwithstanding, either questioned such discoveries or have put forth a defense for why it is worth the effort.
Lately, a more extensive gap has begun to arise in the business. The pundits have tested a portion of the central offer of web3. Twitter organizer Jack Dorsey, who upholds Bitcoin, has excused the affirmation that VCs aren’t procuring most benefits from web3 projects.
Many Companies Halt Their Plans to Incorporate Cryptocurrency
Many company’s amid the ongoing trend have scaled back on their web3 ambitions. Discord back in November has already put a halt on exploring crypto and NFTs following backlash from many users who are opposed to the idea.
GSC Game World which is a gaming company canceled its proposed plan to include NFTs in its upcoming game titled “STALKER 2: heart of Chernobyl” after gamers gave strong feedbacks.