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Carbonable Raises $1.2 Million in Seed Funding for Carbon Credit Tracking on Ethereum’s StarkNet

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It is reported that Carbonable, a carbon credit tracking agreement launched on the Ethereum Layer2 extension system StarkNet, completed a seed round financing of $1.2 million, with

Carbonable Raises $1.2 Million in Seed Funding for Carbon Credit Tracking on Ethereum’s StarkNet

It is reported that Carbonable, a carbon credit tracking agreement launched on the Ethereum Layer2 extension system StarkNet, completed a seed round financing of $1.2 million, with Ethereal Ventures and La Post Ventures leading the investment and Starkware participating.

Carbon credit tracking agreement based on StarkNet Carbonable completed $1.2 million seed round financing

Carbonable, a company specializing in carbon credit tracking, recently secured $1.2 million in seed funding. The company launched its carbon credit tracking agreement on Ethereum’s Layer2 extension system, StarkNet. The seed funding round was led by Ethereal Ventures and La Post Ventures. Starkware, an existing investor, also participated in the round.

What are carbon credits?

Carbon credits are a tradable commodity that act as a permit or certificate that represents the right to emit a certain amount of greenhouse gases. They are a certificate or permit that allows organizations, companies, or governments to emit a certain amount of carbon into the atmosphere. Emitting carbon can occur from a number of activities including the burning of fossil fuels, transportation emissions, or industrial processes. Carbon credits help to aid in the reduction of greenhouse gas emissions.

Carbonable’s Solution

Carbonable’s carbon credit tracking agreement is built on Ethereum’s Layer2 extension system StarkNet. The carbon credits tracked by Carbonable are generated from certified carbon offset projects that help to reduce emissions from a variety of sources. The projects aim to achieve reduced emissions through using technologies that minimize or eliminate carbon emissions, such as renewable energy projects like solar or wind farms, or through the implementation of CO2 capture technologies.

Carbonable’s $1.2 Million Seed Funding Round

Carbonable’s recent seed funding round raised $1.2 million for the company. The funding came primarily from investors Ethereal Ventures and La Post Ventures. Starkware, an existing investor, also participated in the round. This funding will enable Carbonable to build out its platform and expand the company’s capabilities in carbon credit tracking on Ethereum’s StarkNet. The funding will also help to further develop Carbonable’s partnerships with organizations that rely on carbon offsets to mitigate their emissions.

Carbonable’s Impact on Climate Change

Carbonable’s carbon credit tracking solution aims to help reduce greenhouse gas emissions by providing transparency and accountability in the carbon offset market. By offering a verifiable, secure, and transparent way to track carbon emissions, Carbonable hopes to increase the effectiveness of carbon offset programs and encourage more companies to pursue carbon neutrality. This technology has the potential to play a critical role in the fight against climate change, by incentivizing the development of more carbon reduction projects and reducing overall greenhouse gas emissions.

Conclusion

Carbonable’s seed funding round is a significant milestone for the company and represents a major stride towards a more sustainable future. The solution that Carbonable has developed on Ethereum’s Layer2 extension system, StarkNet, has the potential to transform the way that carbon credits are tracked and traded by increasing transparency and accountability in the carbon offset market. As the world continues to grapple with climate change, it is heartening to see innovative solutions like Carbonable’s taking shape and making strides towards a more sustainable future.

FAQs

What is Ethereum’s Layer2 extension system, StarkNet?

StarkNet is Ethereum’s Layer2 extension system that is designed to enable mass adoption of decentralized applications. It is a system that enables high-speed, low-cost transactions on the Ethereum network.

What is the role of Carbonable in the carbon offset market?

Carbonable is a company that specializes in carbon credit tracking on Ethereum’s StarkNet. The carbon credits that Carbonable tracks are generated from certified carbon offset projects that help to reduce emissions from a variety of sources. The projects aim to achieve reduced emissions through using technologies that minimize or eliminate carbon emissions.

How does Carbonable help to reduce greenhouse gas emissions?

Carbonable helps to reduce greenhouse gas emissions by providing transparency and accountability in the carbon offset market. By enabling the tracking of carbon credits on Ethereum’s StarkNet, Carbonable aims to increase the effectiveness of carbon offset programs and incentivize the development of more carbon reduction projects.

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