Net Zero Consensus

Reduction and Burning Consensus for the GESIA Chain

The Net Zero Consensus is a It is a mechanism designed to transparently manage and coordinate carbon emissions and reductions, primarily utilizing a blockchain environment to verify and record carbon credits (emission rights, offset credits), reduction activities, and the burning process. This mechanism facilitates cooperation between participants based on reliable data, helping them reach carbon neutrality through consensus.

1. Carbon Data Collection

Each participant provides data on carbon emissions, reductions, and absorption. Carbon emissions refer to the carbon produced from energy use, industrial activities, and other sources, while reductions represent the carbon saved through the use of renewable energy or improvements in energy efficiency. Carbon absorption includes the amount of carbon captured through natural or artificial carbon sequestration activities. These data points are recorded in real time on the blockchain system as participants carry out their activities.

2. Carbon Data Verification

The collected data on carbon emissions, reductions, and absorption undergo a verification process on the blockchain. Verification is automatically performed through smart contracts or validation nodes, which ensure the accuracy of the data. Any inaccurate or false data is removed, and the data of all participants is transparently accessible. Only verified data is recorded in the system, serving as the foundation for forming consensus.

3. Consensus Formation

The verified carbon data is compared with the data of other network participants, and smart contracts confirm whether the reduction targets are met. Based on this verification process, consensus is formed. The consensus is based on the reductions recorded by each participant and the burned credits, which are the key criteria for assessing whether the net-zero status has been achieved. This ensures that the net-zero status is continuously evaluated and rewarded accordingly.

Carbon Credit Burning Consensus

The Carbon Credit Burning Consensus is a procedure designed to achieve net-zero goals by permanently burning carbon credits to offset carbon emissions. The core of this consensus is that only carbon credits issued based on verified carbon absorption can be burned.

1. Calculation of Carbon Emissions When a company or individual emits carbon, the corresponding amount of carbon emissions is calculated and tokenized.

2. Purchasing Carbon Credits To offset the emitted carbon, carbon credit tokens issued through carbon absorption projects are purchased.

3. Burning Process A carbon emission token can only be burned by using carbon credit tokens. The requester for the burn acts as a carbon emission proof proposer and requests verification. During the verification process, all transactions from the creation of the carbon emission token up to the present and all transactions from the issuance of the carbon credit token up to the present are verified. Once the verification is complete, both the carbon emission token and the corresponding carbon credit token are burned. The burned credit tokens are recognized as having achieved carbon neutrality, and this status is recorded as net-zero on the blockchain.

[ Carbon emission tokens cannot be burned alone ]

[ To burn carbon emission tokens, carbon credit tokens are required ]

Carbon Reduction Consensus

The Carbon Reduction Consensus is a procedure for designing and implementing strategies to reduce carbon emissions. This consensus allows the reducer to determine practical methods for lowering emissions and ensures that these methods are effectively implemented.

1. Emission Source Identification Identify the emission sources that provide carbon emission data and measure the emission levels of each source. This includes various emission sources such as energy consumption, industrial processes, and transportation emissions. Based on this, reduction targets are established.

2. Reduction Pool Setup Based on the analysis, a pool is established to efficiently reduce carbon emissions. If, during the set period, the amount of emission tokens exceeds the set target, that pool is considered to have failed in reduction efforts.

3. Reduction Goals and Execution If reduction goals are achieved according to the schedule set for the pool, corresponding rewards are provided. This acts as a crucial motivator for participants to engage in reduction efforts.

4. Tracking and Verification When the reduction targets are achieved, all transactions from the creation of the reduced emission tokens to the present are tracked and verified, after which they are issued as carbon credit tokens. The reducer becomes the owner of the carbon credits as a reward for their reduction activities.

[ If the commitments of the Carbon Reduction Pool are fulfilled, the reduced amount of carbon will be converted into carbon credits ]

[ Carbon credit tokens converted from carbon emission reductions cannot be used for burning, even if they have been converted into carbon emission tokens ]