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NFTs should be green, too
Non-Fungible Tokens (NFTs) are an invention unique in human history whose role is fast extending beyond the speculative trends around collectibles to use cases that have a positive social impact.
Through NFTs, a broad range of physical and virtual assets can be authenticated, providing transparency on ownership and underlying attributes of tokenized assets while preserving the privacy of individual owners. The cryptographic guarantees of NFTs make them well suited for use cases such as anti-counterfeiting, provenance tracking, and title transfer.
However, due to the high level of computational power required to mint an NFT on Proof of Work (PoW) blockchains, and the energy required to achieve the necessary computational power — which is primarily supplied by non-renewable fuel sources — the emissions from minting, transferring, and burning NFTs can be quite high.
It’s estimated that the mining activities associated with cryptocurrencies emit as much as 114.06 megatons of CO2 per year, equivalent to the same amount produced by the entire Czech Republic.
Most of this effect is caused by electricity usage, as blockchain networks are frequently energy-intensive due to their PoW consensus mechanisms. Based on current patterns, blockchain technology will account for 1% of global electricity consumption by 2025. However, not all digital assets qualify as energy-intensive.
In a new study, Linux Foundation Research and Hyperledger Foundation collaborated with Palm NFT Studio to conduct a study on the design architecture of NFTs and how they may have varying carbon footprints depending on their underlying technology stacks. In essence, not all blockchains are equally hazardous to the environment.
The report also provides recommendations for how NFT creators can reduce the environmental impact of their work, such as by using an alternative consensus mechanism that is not carbon-intensive. Those mechanisms need to be robust enough to:
Reduce blockchain’s carbon footprintProtect against coordinated blockchain attacks by increasingly consolidated mining computing powerOvercome blockchain scaling challenges, which are limited by both slow finality times and low volumes of transactions per second (on Ethereum and many other blockchains)
One such alternative in use today is the Proof of Stake (PoS) consensus mechanism, which is less computationally intensive than PoW, among others. Rather than calculating to solve computational issues, in a PoS system, those in control of the blockchain’s upkeep stake (i.e., “pledge”) their currency, putting it in a type of escrow as a guarantee against fraud. If everything goes well, those who stake their tokens may earn a little profit through a share in block rewards.
While we believe that a move to more environmentally-friendly NFTs by using alternative consensus mechanisms is an essential first step, it is not the only one needed to make the industry more sustainable. Sustainable practices for NFTs (and for the blockchain industry as a whole) start with reduction. Using renewable energy sources, such as solar and wind, can further reduce blockchain emissions.
Beyond choosing sustainable blockchain architecture for issuing NFTs, carbon offsets are an important add-on to the sustainability equation. Offset projects can include a wide range of activities, from planting new forests to capturing methane gas from landfills.
Measured, verified, and certified offsets allow a price to be placed on more carbon-intensive activities providing companies and businesses with a way to incorporate these into their budgets. While embracing offset projects can lead to greenwashing claims, it’s important to choose certified initiatives in tandem with other efforts.
NFTs are here to stay, so now is the time for the industry to reduce its carbon footprint and become more sustainable by leveraging existing technologies and carbon offset opportunities. We hope this report serves as a starting point to inform such decisions.
The post NFTs should be green, too appeared first on Linux Foundation.
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The Linux Foundation Announces Conference Schedule for Open Source Summit North America 2022
The leading vendor-neutral open source event for technical and community contributors continues to focus on covering the most critical topics, innovative technologies and pivotal open source projects through its 14 sub-conferences.
SAN FRANCISCO, April 21, 2022 — The Linux Foundation, the nonprofit organization enabling mass innovation through open source, today announced the full schedule for Open Source Summit North America, the leading conference for open source developers and community leaders, taking place June 21-24 in Austin, Texas and virtually. The schedule can be viewed here and the previously announced keynote speakers can be viewed here.
Comprised of 14 events, including LinuxCon, Embedded Linux Conference, SupplyChainSecurityCon, CloudOpen, OSPOCon, Emerging OS Forum, ContainerCon and more, Open Source Summit North America 2022 will cover the most important and cutting edge topics and technologies touching open source today. The schedule features 300 talks (keynote presentations, conference sessions, tutorials, and BoFs) and includes something for everyone, across a range of topics and skill levels.
“The 14 events that make up Open Source Summit North America’s conference umbrella cover the open source projects and technologies that are fundamental across software and other industries, while also highlighting those that are poised for growth and widespread use. The event provides the collaborative environment and knowledge sharing needed to drive innovation across the fold,” says Angela Brown, SVP & General Manager of Events at The Linux Foundation.
2022 Conference Session Highlights Include:
LinuxCon: Memory Folios – Matthew Wilcox, Oracle
CloudOpen: Peta Scale Telemetry Backend With Opentelemetry – Kranti Vikram Anugola & Weain Deng, Walmart Global Tech
Embedded Linux Conference: V4L2 M2M as the Driver Framework for Video Processing IP – Karthik Poduval, Amazon Lab126
OSPOCon: F5’s Open Source Journey – Christine Abernathy, F5, Inc.
Open AI + Data Forum: Delta Lake: Diving into Data Lakes Without the Downsides – Kelly O’Malley, Databricks
SupplyChainSecurityCon: Authenticating Supply-Chain Metadata: Building Remote Code Attestations on GitHub – Asra Ali & Laurent Simon, Google
Embedded IoT Summit: AI/ML at the Extreme Edge with WebAssembly: A Path Forward – Michael Tanenbaum, Mycelial
Global Security Vulnerability Summit: Scalable Management of Vulnerabilities in Open Source – Oliver Chang, Google & Kate Catlin, GitHub
Emerging OS Forum: OpenCost: An Open Source Tool for Your K8s Cost Management Problem – Webb Brown & Ajay Tripathy, Stackwatch
Diversity Empowerment Summit: “Did You Miss My Comment or What?” Understanding Toxicity in Open Source Discussions – Courtney Miller, Carnegie Mellon University
ContainerCon: Sustainability the Container Native Way – Huamin Chen, Red Hat & Chen Wang, IBM
Community Leadership Conference: Scaling Your Community From a Few Hundred to Tens of Thousands – Anna Filippova, dbt Labs
Open Source On-Ramp: Peeling Back the Layers of Storage – John Hawley, VMware
Critical Software Summit: Using FOSS as Part of a System Safety Mechanism – Paul Albertella, Codethink
2022 Keynote Speakers Include:
Alena Analeigh, Founder, Brown STEM GirlJennings Aske, Senior Vice President & Chief Information Security Officer, NewYork-Presbyterian HospitalAeva Black, Open Source Hacker, Ethical Agitator, and Consent AdvocateEric Brewer, Vice President of Infrastructure, GoogleMatt Butcher, Chief Executive Officer, Fermyon TechnologiesTaylor Dolezal, Head of Ecosystem, Cloud Native Computing FoundationMelissa Evers, Vice President & General Manager, Strategy to Execution, Software and Advanced Technology Group, Intel CorporationAmy Gilliland, President, General Dynamics Information Technology (GDIT)Orion Jean, TIME 2021 Kid of the Year, Author and Kindness ActivistTodd Moore, Vice President – Open Technology and Developer Advocacy, CTO DEG, IBMMelissa Smolensky, Vice President, Corporate Marketing, GitLabLinus Torvalds, Creator of Linux & Git in conversation with Dirk Hohndel, Founder, DH ConsultingChris Wright, Senior Vice President and Chief Technology Officer, Red Hat
Additional keynote speakers will be announced in the coming weeks.
Registration (in-person) is offered at the early price of $850 through April 26. Registration to attend virtually is $25. Members of The Linux Foundation receive a 20 percent discount off registration and can contact events@linuxfoundation.org to request a member discount code.
Applications for diversity and need-based scholarships are currently being accepted. For information on eligibility and how to apply, please click here. The Linux Foundation’s Travel Fund is also accepting applications, with the goal of enabling open source developers and community members to attend events that they would otherwise be unable to attend due to a lack of funding. To learn more and apply, please click here.
Health and Safety
In-person attendees will be required to be fully vaccinated against the COVID-19 virus and will need to comply with all on-site health measures, in accordance with The Linux Foundation Code of Conduct. To learn more, visit the Health & Safety webpage.
Event Sponsors
Open Source Summit North America 2022 is made possible thanks to our sponsors, including Diamond Sponsors: Google and IBM, Platinum Sponsors: Cloud Native Computing Foundation, Databricks, Intel and Red Hat, and Gold Sponsors: Camunda, Checkmarx, Coder, Dell Technologies, GitLab, InfluxData, Kubecost, Styra and Whitesource. For information on becoming an event sponsor, click here or email us.
Press
Members of the press who would like to request a press pass to attend should contact Kristin O’Connell.
About the Linux Foundation
Founded in 2000, the Linux Foundation is supported by more than 2,000 members and is the world’s leading home for collaboration on open source software, open standards, open data, and open hardware. Linux Foundation’s projects are critical to the world’s infrastructure including Linux, Kubernetes, Node.js, and more. The Linux Foundation’s methodology focuses on leveraging best practices and addressing the needs of contributors, users and solution providers to create sustainable models for open collaboration. For more information, please visit linuxfoundation.org.
The Linux Foundation Events are where the world’s leading technologists meet, collaborate, learn and network in order to advance innovations that support the world’s largest shared technologies.
Visit our website and follow us on Twitter, Linkedin, and Facebook for all the latest event updates and announcements.
The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.
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Media Contact
Kristin O’Connell
The Linux Foundation
koconnell@linuxfoundation.org
The post The Linux Foundation Announces Conference Schedule for Open Source Summit North America 2022 appeared first on Linux Foundation.