You may have seen the massive energy consumption of Bitcoin discussed in the media recently. The transaction processing limitations of it have been getting similar attention. The current Carboncoin network can accommodate 4x the transaction volume of legacy Bitcoin but does so using merely the electricity of a few lightbulbs.

Back when we started we were arguably a bit ahead of the curve, but the same thinking implies the time is right now. So here’s what we’re doing:

We are issuing tokens on the Ethereum network, having spent much of the year working out the most effective way to do this. Initial Coin/Contribution Offerings (ICO’s) have facilitated hundreds of projects raise tens of millions of dollars — funding which, were we to get it, would almost guarantee our success in creating unlimited funding for environmentally beneficial activities.

Carboncoin is unique insomuch as our network is older than Ethereum itself (and therefore older than all the ICO’s). We have proven demand for what we are offering, we even have many network participants already holding coins — many of whom have had no other contact with cryptocurrencies. Also, we have achieved our objective of providing the same functionality as Bitcoin, while removing competitive energy consumption. All in all this could be the makings of a very exciting opportunity for the ICO market.

We have got where we are without being able to hire full time coding team or a business development operation. We have designed several new features and services which, when incorporated, will greatly assist us in achieving our goal of being of unprecedented benefit to the environment. We plan to implement these into a new network to be built with the proceeds from the ICO, using all advances in cryptocurrency technology which serve our use case.

The first step has been to deploy a token for our existing holders. This token is now live. We are hoping to catch up with everyone over the coming weeks and invite them to swap half of their coins for the Carboncoin Ethereum tokens. We have accounted for half of the 16B coin circulation in this token (so half of everyone’s holdings). The only way to get this token is by owning existing Carboncoin. These tokens will be redeemable for the same number of coins on the new network when completed. Tokens corresponding to the other half of the circulation will be sold in the ICO.

Our decision to exchange half of everyone’s coins for tokens (instead of all of them) has come about because what we have works, and, compared to the other cryptocurrencies out there, it actually works very well. We are leaving the door open for developing the current network in tandem with the new one.

The ICO tokens will be launched in a few weeks time once we have completed this distribution to the existing network. Once our fundraising efforts are concluded we will be able to begin putting into action the detailed business plan that will make Carboncoin happen.

To find out more get an invitiation to the Carboncoin slack channel by emailing slack@carboncoin.cc where you can ask any questions you have and get hold of your Carboncoin Ethereum.