Mozilla hits pause on crypto donations following backlash

The Mozilla Foundation is pausing the ability to accept cryptocurrency donations following a backlash from dozens of people, including a founder of the Mozilla Project.

The foundation, which oversees the development of the Firefox browser, acknowledged on Thursday conversations about the environmental impact that cryptocurrencies may pose and said it is reviewing whether its current policy on cryptocurrency donations. “fits with our climate goals. “

“Decentralized web technology is still an important area to explore, but a lot has changed since we started accepting crypto donations,” the foundation said in a tweet, promising to stay on top of its review updates.

The foundation began to face a backlash after it invited people to donate to the American nonprofit company through the use of a variety of crypto tokens, including bitcoin.

In response to your tweet, Jamie Zawinski (Mozilla founder) voiced dismay at the foundation’s move. “Everyone involved in the project should be terribly ashamed of this decision to partner with Ponzi scammers who incinerate planets,” he said, adding an expletive.

Peter Linss, the founder of Gecko, the engine that powered the browser, United the conversation by telling Mozilla that it was “meant to be better than this.”

This is not the first time that a major company has faced backlash, or distanced itself from Bitcoin, due to environmental concerns. In May of last year, Tesla suspended accepting bitcoin as payment for its vehicles, just months after introducing the option.

Musk said the firm was “concerned about the rapid increase in the use of fossil fuels for Bitcoin mining and transactions, especially coal.” Weeks later, he said that the company will “probably” accept Bitcoin again once the cryptocurrency’s mining rate reaches 50% renewable energy.

Questions about bitcoin’s environmental footprint have been linked to how various tokens are created. Bitcoin and ethereum use a mechanism called proof of work to power their networks and mint new blocks of each coin. This calculation, by design, has become more complex over the years as networks grow and give rise to an industry of companies running thousands of GPUs 24 hours a day to participate in solving the puzzle.

Bitcoin mining consumes around 148 terawatt-hours of energy a year, according to estimates from the Cambridge Center for Alternative Finance. Many proponents of cryptocurrency have, however, disputed such findings or have argued why it is worth.

In recent months, a broader division in the industry has begun to emerge. Critics have challenged some of the web3’s core value propositions. Twitter founder Jack Dorsey, who supports bitcoin, has rejected the claim that venture capitalists are not getting most of the benefits from web3 projects.

Amid the ongoing discourse, many companies have lowered their web3 ambitions. Discord took a hiatus from exploring crypto and NFT in November following protests from many who opposed the idea. Gaming company GSC Game World canceled its plan to include NFT in its next title “STALKER 2: Heart of Chernobyl” after several players offered a strong response.

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