What is XELS? XELS is a Blockchain platform that combines carbon credits and NFT assets to combat climate change. In this article, as Kriptokoin.com, we have answered frequently asked questions such as what is XELS, what it offers, what is XELS coin, how to get it. Let’s examine the project together.
What is XELS?
XELS aims to create a greener planet by reducing carbon emissions worldwide. It aims to do this with Blockchain technology, carbon credits and NFT assets. Accordingly, the platform distributes carbon credits to its users. In general, carbon credits are used to finance projects that actively reduce the harshness of greenhouse gas emissions, such as planting trees or building solar and wind-powered infrastructure.
However, this type of loan has been a constant target of scammers since it emerged in the 1990s. This is exactly what XELS aims to solve. The project provides these loans as NFTs thanks to Blockchain’s distributed ledger technology. With NFTs, the ownership and amount of the loan is recorded on the Blockchain. These records cannot be changed and cannot be hacked. Thus, XELS enables carbon emission credits in a safer and healthier way.
What does the project offer?
The XELS Platform maps and measures the actual amount of carbon in Japan and Australia. It does this in collaboration with companies that use the latest satellite imagery and artificial intelligence. XELS’ enterprise blockchain network allows businesses and individuals to communicate with global carbon offset markets. It does this by providing a simple, cost-effective and energy efficient infrastructure.
One of the most powerful features of the XELS platform is the ability for projects to generate infinite amounts of digital carbon credit NFTs in a single transaction. This reduces the energy use associated with multiple Blockchain transactions and saves money on gas fees. Accordingly, with XELS’ digital carbon NFTs, the field becomes safer and more cost-effective. The Ethereum-based Blockchain project also uses a native cryptocurrency called XELS.
What is XELS coin? What does it do?
XELS coin is the native cryptocurrency of the XELS platform. This ERC-20 token has many use cases within the network. At the beginning of the use cases, the NFT printing fee comes. Accordingly, users deposit one XELS token per 10 tonne of carbon to print a custom carbon offset NFT equal to the amount of carbon they want to allocate. After the offset-backed NFT is burned, XELS tokens are unlocked. In this respect, the network works with the Proof-of-Stake mechanism.
In addition, XELS issues an official certificate on its platform after each NFT burning. Thus, it provides evidence of the amount of carbon captured. Now the altcoin aims to create an NFT marketplace. In this way, it will offer a platform for printing carbon offset NFTs.
What is XELS? How to take
XELS coin is currently listed on several cryptocurrency exchanges. These exchanges are MEXC, Gate.io and BitGlobal, respectively. Interested investors must be members of a listing exchange and verify their accounts. They can then purchase the token by depositing an asset in their wallet that matches their XELS pair.
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