System Overview

The ecoLedger operates as a bridge between disparate blockchain ecosystems, facilitating the transfer and retirement of carbon credits in a secure and verifiable manner. This protocol encapsulates the processes of carbon credit lifecycle management, cross-chain interactions, and user engagement within a decentralized framework.

Core Functionality

ecoCredit Tokenization: Enhances the capabilities of off-chain registries and new projects that want to be web3-native by enabling the tokenization of their environmental credits. This process integrates credits into various blockchain networks, offering Web3 capabilities through ecoLedger's protocol. It ensures efficient issuance, management, purchase, and retireability of cross-chain environmental credits.

ecoCredit Cross-Chain Aggregator: Designed for projects with existing tokenized credits, aiming to enhance their interoperability and reach. This service, exclusively provided through ecoLedger, ensures adherence to strict protocols, providing a secure and structured approach. It enables a seamless transition for projects and registries looking to leverage cross-chain functionalities to expand their capabilities within the blockchain ecosystem.

Protocol Stakeholders

Credit Issuers: These are the entities responsible for the initial creation and issuance of carbon and other environmental credits. They play a crucial role in the ecoLedger ecosystem by introducing new credits into the market.

Credit Holders: These include individuals or organizations that own carbon credits. Within the ecoLedger system, they have the capability to manage their credits, including the ability to retire or transfer them as needed.

Green Applications: Applications utilizing the ecoLedger to offer environmental impacts to their users. This can range from applications hitting a smart contract with payments for credit retirement to businesses that build their own use cases utilizing ecoLedger.

Protocol Operations

Recording: Once credits are tokenized on their origin blockchain, they are recorded in the ecoLedger. Each credit is recorded with comprehensive details including project information and a unique identifier.

Transfer: Credits can be transferred between users or across different blockchains. This operation ensures that there is a clear and auditable trail of ownership for each credit, safeguarding against fraudulent activities.

Retirement: The retirement operation is critical. It involves the removal of credits from circulation, a process that is meticulously recorded on ecoLedger. This includes capturing transaction hashes to confirm the finality of the retirement. The retirement on the ecoLedger will perfectly match the retirement on the source registry, greatly enhancing security.

Reporting: ecoLedger provides transparent transaction reports, allowing stakeholders to analyze the flow of credits and their retirement. These reports are vital for ensuring trust in the system.

Service: ledger.ecotoken.earth