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Open Forest Protocol is built on Near – The future of blockchain in climate change

Extreme weather events have caused major global upheaval this year, leaving thousands dead and millions displaced. Can we say climate change? is one of the biggest challenges facing humanity in the XNUMXst century because climate change is directly affecting our ecosystems, environmental resources and human life. 

Faced with those problems, in the blockchain space many developers still have initiatives to limit emissions CO2 through their projects. In the past time, we can mention projects about Move to earn Typical stepn. stepn is an exercise application, helping to both improve health and earn profit on every step of human movement, this partly helps to limit people's motorbike riding and reduce the emissions of gas CO2 out into the environment. 

In addition, to limit the effects of climate change, Forest play an important role in combating global climate change, providing Oxy to the atmosphere and absorb the gas CO2. Forest also known as the green lung of the earth, Forest plays an important role in gas absorption CO2, produces gas Oxy necessary for life.

Although afforestation is one of the most promising nature-based solutions to combat global warming, the industry is currently constrained by the lack of a system of measurement, reporting and verification. MRV) uniform, transparent and affordable. This hinders the industry from scaling. And Open Forest Protocol (OFP) want to change that.

Open Forest Protocol (OFP) using NEAR to bring about a fully on-chain carbon economy, starting with a data audit platform to make reforestation transparent, accountable and scalable. And Open Forest Protocol (OFP) What else stands out? Everyone, let's see the details of .'s post BTA HUB .

What is Open Forest Protocol?

Open Forest Protocol (OFP) is an open platform to transparently measure, verify and fund reforestation projects. Open Forest Protocol is a blockchain solution to accelerate the global response to climate change through nature-based solutions. Open Forest Protocol build a product that empowers afforestation, reforestation and conservation projects, as well as forest managers, and verifies environmental data from their land.

How OFP . works

Open Forest Protocol includes a mobile application to upload data from the field, a blockchain-based structure to verify environmental data correctly, and an open source database, providing Carbon Financing (carbon finance).

When a project operator registers their forest project on OFP, their data is stored on-chain as NFT. Field workers use mobile apps to upload data to their project dashboards. From then on, all project data is stored immutably and transparently on the public ledger.

As a data audit platform, OFP provides on-chain data verification through a network of custodians known as validators. Validators worldwide secure data legitimacy using satellite, IoT, drone and AI technology, with all monitoring information stored on-chain so anyone can access it. access and verify again.

OFP enabling a win-win solution for all parties involved. Project operators benefit from access to transparent and inexpensive MRV, as well as eligibility for carbon funding schemes. The validators benefit by charging for their services. Finally, the open and transparent nature of the system ensures quality control, increasing investor confidence in the projects they finance.

Final, OFP benefit the global community by providing the infrastructure to sequester carbon at the scale we need, and create the basis for a truly data-driven carbon economy.

Why did OFP choose NEAR?

OFP is building on NEAR because the OFP consider this a perfect chain to bridge the world of climate solutions with the world of crypto.

1. NEAR is an eco-friendly blockchain

Commitment of NEAR for sustainability consistent with the mission statement of OFP. Is a chain Proof-of-Stake, NEAR 200.000 times more efficient than Bitcoin , and CO2NEAR emissions are compensated by planting trees in Colombia, Zimbabwe , and Hoa Ky.

2. Scalability

With sharding design, NEAR infinitely expandable. NEAR provides the technical capacity to provide data on the hundreds of thousands of forest projects we need to fight climate change.

3. Easy to use and user-friendly

User-friendly design of NEAR and quick completion helps Near become the best chain to join project operators and organizations who are not familiar with cryptocurrencies.

4. Low cost

Due to above transaction costs NEAR Is negligible, OFP can reduce costs MRV for forest projects and moreover, opens the door to small and medium forest projects who would not have access to services MRV costly.

5. DAO infrastructure

The infrastructure DAO 's creation NEAR will help OFP has a flexible and efficient decentralized governance model.

Strengths of Open Forest Protocol

Accessibility: OFP ensuring all reforestation projects around the world, large and small, have access to their digital platforms.

Transparent: By recording all data and transactions on the blockchain, OFP achieve an extremely high level of transparency in the afforestation industry.

Ratio: All OFP are both open source and decentralized, which means that new solutions to climate change can be quickly built using OFP as a foundation.

Carbon Sponsorship: Transparent and trustworthy afforestation projects get access to carbon finance as the process MRV success.

OFP's team

Some of the outstanding members of Open Forest Protocol's powerful team

Open Forest Protocol has a strong and experienced team from building cutting-edge blockchain solutions, running leading global afforestation and sustainability research nonprofits.

Token

Present OFP The token has not been released yet, if there is information, the Team will update more in the near future.

Roadmap

Phase 1: Preliminary construction (Q4/2020 – Q2/2021)

  • This phase is necessary to build the basic building blocks of OFP. That includes early prototype development, back-end protocol design, customer outreach and planning, core documentation finalization, core team rollout, and construction strategic planning. future branding, messaging and outreach.

Phase 2: Testing and Developing Stealth Technology (Q2 of the year 2021 – Q2 2022)

  • Stage two is the longest and most essential stage in the development process OFP
  • The actual back-end development of the protocol begins, with outreach to customers and collaborators, as well as community development and developers. Initial prototypes are completed and PoC begins with select customers on private test-net. While the core protocol infrastructure is still under development (including NFT integration with protocol, regional development validators), other core components that make up the built ecosystem: SDK , and API, management interface for Validator and project operators.

Phase 3: Public launch (Q2 – Q3 2022)

  • The public launch of OFP will take place immediately after the public token launch event.
  • Phase three is characterized by the incremental release of various features of the OFP
  • It will become public when the validators OFP collective voting to launch the protocol and OFP Knife at the same time. This will enable data upload fees for projects that use the protocol.
  • Token public token generation event OFP.
  • Launch Mainnet V1.
  • Launch validators public.
  • Launches OFP Knife.
  • OFP Open to developers and entrepreneurs to build solutions on OFP.

Phase 4: Protocol Decentralization (Q3 2022 onwards)

The fourth and final stage in Roadmap of OFP current regarding the protocol decentralization process after launch. This development will seeOFP become a completely autonomous and permissionless cloud platform MRV. In addition, in the case introduction and recognition Open Carbon Credits on the platform, OFP can stand out as the first platform for the Carbon Sequestration Initiatives (Sequence Check initiative Carbon). Development prospects include:

– The OCCs Standard can be implemented into the protocol architecture.

– Decentralization of decisions made through the transition from OFF blood OFP Knife.

– Development of Open Source Dashboards for other industries.

Summary: 

With the information that BTA HUB provides, hopefully everyone will have more information about the project and make the right decision in their investment! BTA HUB posts are for informational purposes only and are not investment advice.

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