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HomeTechnologyMozilla foundation resumes accepting crypto donations but not in Bitcoin

Mozilla foundation resumes accepting crypto donations but not in Bitcoin

According to a blog post by executive director Mark Surman, the Mozilla Foundation has decided to resume accepting bitcoin donations in the near future.

It has, however, outlawed energy-intensive “proof-of-work” cryptocurrencies, which means it will no longer accept Bitcoin donations. Later this year, Ethereum, the second-largest proof-of-work cryptocurrency, is anticipated to move to proof-of-stake. Its energy consumption is expected to decrease by 99.95 percent after the much-anticipated improvement.
Proof-of-work cryptocurrencies, according to Surman, can “substantially” raise the foundation’s greenhouse gas footprint, preventing it from meeting its climate obligations. By the end of the second quarter of 2022, Mozilla will have compiled a list of cryptocurrencies that it will accept. In 2014, the non-profit company behind the Firefox web browser began taking cryptocurrency payments. The company abandoned crypto in early January after a public outcry over a tweet. Jamie Zawinski, the creator of Mozilla, criticised the organisation for funding “planet-incinerating Ponzi grifters.”
Many members of the bitcoin community accused the foundation of caving in to the internet mob when it decided to suspend donations in response to criticism. Billy Markus, co-founder of Dogecoin, was one of the critics of Mozilla’s reversal on crypto donations. The Bitcoin community is likely to be outraged by the recent decision to exclude proof-of-work cryptocurrencies from its platform. Its members argue that fears regarding the largest cryptocurrency’s detrimental environmental impact are exaggerated.

Read more: UN refugee agency receives its first stablecoin crypto donation

Kunal Krishan
Kunal Krishan
Kunal is an investment space writer who firmly believes investment is something which should not be a choice but a part of everyone's life.
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