POW (Proof of Work) methods used in previous blockchain models lead to excessive mining competition and energy consumption, and while POS (Proof of Stake) methods introduced as its alternative does not require mining, it faces difficulty in inflowing and increasing new users.To correct these issues, EDEL blockchains utilize a new mining method referred to as Carbon Reduction Mining (CRM) and a respective reward system called PCR. CRM conserves, rather than consumes, energy. Proof of Carbon Reduction (PCR) is a system that rewards users for conserving energy using CRM, proportionally incentivizing efforts of reducingcarbon emissions by quantifying reduced energy and carbon emissions.
Total global GHG(Greenhouse Gas) emissions in 2016 were 53.4 Gton CO2, of which 35.8 Gton CO2 were emitted by human activities and 15.9% (5.6 Gton CO2) occurred in passenger cars, trucks, buses, and motorcycles.In 2017, the number of vehicles in the world is about 1.3 billion, and about 100 million vehicles are produced and sold every year. Therefore, GHG emissions of vehicles are expected to increase.POST-2020, which replaces the Kyoto Protocol that exclusively held developed nations responsible for GHG emissions reductions, requires all signatory nations including developing nations to reach their GHG emissions targets. However, GHG emissions reductions in the transportation must be addressed.An additional function has been added to EDEL blockchains to improve on issues found in previous blockchain models. POW (Proof of Work) methods used in previous blockchain models led to excessive mining competition and energy consumption, and also POS (Proof of Stake) methods introduced as its alternative does not require mining, but it faces difficulty in joining and increasing new users.
The International Transport Forum (ITF) predicts an expansion of the role of public transportation and increase in supply of eco-friendly vehicles (electric and hydrogen-powered vehicles) under POST 2020.In addition, the transportation industry must act on market-based GHG reduction mechanisms such as CDM(Clean Development Mechanism). CDM or other market-based GHG reduction mechanisms for road transport should also be considered, as road transport contribute to a large proportion of emissions.Reduction of GHG emissions by transportation requires the development and supply of eco-friendly vehicles such as electric or hydrogen cars, but feasible measures must also be taken until such vehicles can be commercialized. Increasing fuel efficiency by Eco-drive is a practical option for individuals.Eco-drive means reducing fuel consumption and CO2 emissions by improving the way, habit, or manner of running transportations. Also, it was verified that this Eco-Drive not only saves energy and reduces CO2 emissions, but also has positive by-effect in stability perspective such as reduction of traffic accidents by controlling impractical overspeed driving.As the effects and importance of Eco-Drive stand out, a variety of promotion and activation methods in order to supply and activate Eco-Drive are being studied and diverse campaigns were carried out, but Eco-Drive is still not popularly known to the public yet.To increase the number of people using public transportation (eco-friendly vehicles) and eco-driving, there must be reward for voluntary participation. Edelcoins blockchain utilize a new mining method referred to as Carbon Reduction Mining (CRM) and a respective compensation scheme. CRM conserves, rather than consumes, energy. Proof of Carbon Reduction (PCR) is a system that compensates users for energy conserved using CRM, proportionally incentivizing efforts to reduce carbon emissions by quantifying energy and carbon emissions reduced by using CRM.
Carbon Reduction Mining is performed by actions or methods that reduce fuel consumption compared with baseline and quantitatively measuring the results using CRM devices.
CRM device is an easy-to-install device that can be plugged into vehicles. Then it monitors and measures the CO2 emission changes and transmits the data to Edel coin Blockchain network.
Based on the data collected from CRM device, Edelcoin Blockchain evaluates the data through validation and valuation process to calculate the exact amount of carbon emission reduced. It is called the Proof of Carbon Reduction.
Edelcoin Blockchain converts the amount of CO2 reduced into Edelcoins and the coins will be transferred to the owner of CRM device as a reward automatically.
2006 ~ 2017.06
4Q ~ 2019 Q1
Attention. There is a risk that unverified members are not actually members of the team
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