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After facing a backlash, <a href="https://www.businessinsider.in/investment/news/mozilla-cofounder-accuses-the-internet-browser-company-of-partnering-with-planet-incinerating-ponzi-gifters-by-accepting-crypto-donations/articleshow/88720262.cms" data-type="tilCustomLink">Mozilla</a>, the nonprofit organisation behind the Firefox web browser, has announced to stop taking <a href="https://www.businessinsider.in/investment/news/cryptocurrency-new-years-resolutions/slidelist/88643906.cms" data-type="tilCustomLink">cryptocurrency</a> donations. Cryptocurrency mining has come under intense scrutiny for its climate impact globally. "Starting today, we are reviewing if and how our current policy on crypto donations fits with our climate goals. And as we conduct our review, we will pause the ability to donate cryptocurrency," Mozilla said in a tweet late on Thursday. Last week, Mozilla tweeted that it accepts cryptocurrency donations, which "led to an important discussion about cryptocurrency's environmental impact". Mozilla began accepting Bitcoin for donations in 2014. The organisation, however, kept its faith in decentralised, blockchain-based technology. "Decentralised web technology continues to be an important area for us to explore, but a lot has changed since we started accepting crypto donations. In the spirit of open-source, this will be a transparent process and we'll share regular updates," said Mozilla. The Cambridge Bitcoin Electricity Consumption Index indicates that Bitcoin uses 122.87 Terawatt-hours of electricity every year -- more than the electricity combustion in the Netherlands, Argentina, or the UAE. According to Digiconomist, a cryptocurrency analytics site, a single Bitcoin transaction uses 2,106.37 kilowatt-hours of electricity, which equals the amount of power consumed by the average American household over 72.2 days.

Mozilla halts cryptocurrency donations after climate impact backlash

The <keyword id="196610" type="General" weightage="80" keywordseo="wikimedia-foundation" source="Orion">Wikimedia Foundation</keyword> (<keyword id="1603322" type="General" weightage="80" keywordseo="wmf" source="Orion">WMF</keyword>) has announced to discontinue direct acceptance of <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-editorial" data-type="tilCustomLink" target="_blank">cryptocurrency</a> as donation. The WMF, the organisation behind <keyword id="71187" type="General" weightage="50" keywordseo="wikipedia" source="Orion">Wikipedia</keyword>, received around $130,000 in crypto donations last year. "We are making this decision based on recent feedback from those same communities. Specifically, we will be closing our Bitpay account, which will remove our ability to directly accept cryptocurrency as a method of donating," the foundation said in an update. The WMF began accepting Bitcoin, Bitcoin Cash and Ethereum donations in 2014. The foundations aid that it will "continue to monitor this issue, and appreciate the feedback and consideration given to this evolving matter by people across the <keyword id="196608" type="General" weightage="100" keywordseo="wikimedia" source="Orion">Wikimedia</keyword> movement". "The Wikimedia Foundation has decided to stop accepting cryptocurrency donations. The decision was made based on a community request that the WMF no longer accept crypto donations, which came out of a three-month-long discussion that wrapped up earlier this month (April)," tweeted Molly <keyword id="17298" type="General" weightage="80" keywordseo="white" source="Orion">White</keyword>, a Wikipedia editor. White, also the creator of Web3 Is Going Just Great', proposed the WMF stop taking cryptocurrency donations in January this year. Last month, <keyword id="6355041" type="General" weightage="50" keywordseo="mozilla" source="Orion">Mozilla</keyword> also decided that they will no longer accept proof-of-work (PoW) cryptocurrencies but will continue to accept proof-of-stake (PoS) ones. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/meta-owned-whatsapp-bans-more-than-18-lakh-accounts-in-india-during-march/articleshow/91250363.cms">Meta-owned WhatsApp bans more than 18 lakh accounts in India during March</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/upi-reached-new-heights-with-5-58-billion-transactions-in-april-2022/articleshow/91250099.cms">UPI reaches new heights with 5.58 billion transactions in April 2022</a>

Wikimedia Foundation stops accepting cryptocurrency donations after eight years

<ul class="summary-list"><li>A <keyword id="12889886" type="UNKNOWN" weightage="60" keywordseo="mozilla" source="Orion">Mozilla</keyword> cofounder condemned the firm's move to accept <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> donations in a tweet Monday.</li><li>Jamie Zawinski said it should be ashamed to partner with "planet-incinerating Ponzi grifters."</li></ul>The Mozilla Foundation, the entity that oversees the Mozilla Firefox internet browser, is now accepting donations in cryptocurrency.One of the browser's founders is not happy about it.The company tweeted on Dec. 31: "Dabble in @dogecoin? HODLing some #Bitcoin &amp; Ethereum? We're using @BitPay to accept donations in #cryptocurrency."Jamie "jwz" Zawinski, who helped build the Mozilla Project that was released in 2002, tweeted in response that he's "here to say fuck you and fuck this.""Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters," he said.Zawinski did not immediately respond to questions about his comments. Concerns around cryptocurrency's energy use and environmental impact have grown louder in recent years. Bitcoin mining, for example, eats up about 0.5% of the world's energy, about seven times more than Google consumes each year, <a href="https://www.businessinsider.com/bitcoin-mining-electricity-usage-more-than-google-2021-9">per a September analysis from The New York Times.</a>In 2021, Tesla CEO Elon Musk said the company would <a href="https://www.businessinsider.com/tesla-bans-bitcoin-payments-due-to-impact-on-environment-2021-5">stop accepting crypto payments vehicles,</a> citing their environmental impact. Zawinski was one of the original creators of Netscape when he cofounded the Mozilla Project, whose mission was to create an open-source internet for the masses. He<a href="https://www.jwz.org/gruntle/nomo.html"> resigned in 1999</a>, citing differences in vision between him and the company. The browser came to be known for its privacy focus, while giants like Google's Chrome grew up around it over the years — Firefox held about 7% of the US market share as of September, while Chrome held 60% and Safari held 18%, according to <a href="https://gs.statcounter.com/browser-market-share/desktop/united-states-of-america">data from the web traffic analysis firm StatCounter.</a>"The Mozilla project has become too depressing, and too painful, for me to continue working on," he wrote in a <a href="https://www.jwz.org/gruntle/nomo.html">public resignation letter</a>. "I wanted Mozilla to become something that it has not, and I am tired of fighting and waiting to make it so."He wasn't the only one to level criticism at Mozilla's move on <keyword id="11892744" type="UNKNOWN" weightage="60" keywordseo="twitter" source="Orion">Twitter</keyword> this week. Peter Linss, the founder of Gecko — the Mozilla-launched engine that powers the internet browser — tweeted in support of Zawinski."What. The. Actual. F---," Linss tweeted at the company. "You were meant to be better than this."<a href="https://www.cnbc.com/2021/04/23/bitcoin-a-gimmick-and-resembles-a-ponzi-scheme-black-swan-author-.html">Critics have lambasted the crypto</a> as a Ponzi scheme, saying the market resembles the fraudulent investing scam promising investors high return rates based on money from later investors. But proponents have pushed back on that characterization, citing in part the open-source public nature of digital currencies (ponzi schemes typically rely on masking certain investment details in secrecy), and other societal benefits like the democratization of <keyword id="11895316" type="UNKNOWN" weightage="60" keywordseo="finance" source="Orion">finance</keyword>. Regardless, it's become popular for nonprofits to accept cryptocurrency donations, as <a href="https://www.cnbc.com/2021/12/24/what-to-know-about-making-cryptocurrency-donations-to-charity.html">CNBC</a> reported in December.

Mozilla cofounder accuses the internet browser company of partnering with 'planet-incinerating Ponzi gifters' by accepting crypto donations

<div class="KonaFilter image-container display-table"><div><div class="image on-image">ReutersRepresentations of virtual currency and Libra logo illustration picture</div></div></div><ul class="summary-list"><li>When <a href="https://www.businessinsider.com/category/facebook">Facebook</a> introduced its new cryptocurrency <a href="https://www.businessinsider.com/category/libra">Libra </a>earlier this month<a href="https://www.businessinsider.com/category/libra">,</a> it also unveiled a new programming language, called Move.</li><li>Move is specifically designed for <a href="https://www.businessinsider.com/category/blockchain">blockchain</a> transactions and building apps that work with Libra, and it has special properties that allow it to move Libra coins without the money accidentally disappearing or being duplicated.</li><li><a href="https://www.businessinsider.com/category/developers">Move </a>is open source, so developers can start using and making updates to the technology. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary" target="_blank" rel="noopener">Read more BI Prime stories here</a>.</li></ul>Last week, Facebook announced a brand new cryptocurrency of its own called Libra - an initiative that has already drawn the attention of <a href="https://www.businessinsider.com/facebook-cyrptocurrency-libra-calibra-questions-2019-6">Silicon Valley</a>, <a href="https://www.businessinsider.com/fed-to-hold-facebooks-crypto-coin-to-high-bar-powell-2019-6">government officials</a>, and even <a href="https://www.businessinsider.com/libras-upset-facebook-named-cryptocurrency-astrology-sign-2019-6">astrologists</a>. Less noticed was the fact that Facebook also launched a new programming language to use with Libra, called Move. This language is specifically designed for blockchain transactions, and for developers to build apps that work with Libra. It's still in its early stages, but the idea is that the Move programming language allows apps to move Libra coins from one account to another without being misplaced or duplicated."One of the things that's powerful about Move is it's very expressive," Ben Maurer, tech lead for the Libra-focused Facebook subsidiary Calibra, told Business Insider. "Move can express things ranging from simple transactions like sending money to more complex transactions like how money is created and destroyed."It's also an open source project, meaning that anyone can add improvements to the code, try it out, or download it for free. Although Libra won't be available until 2020, if users want to get started in experimenting with Move, they can visit the <a href="https://github.com/libra/libra/tree/master/language">project on GitHub</a> right now and learn to use it on the <a href="https://developers.libra.org/">Libra developer website</a>.Maurer says that Libra and Move were designed alongside each other, and share a common inspiration in the form of Rust, a popular programming language originated at the Mozilla Foundation. Libra was implemented in Rust, while Move borrows some concepts from the language. "One of the philosophies we had was to take a holistic view on what we're creating," Maurer said. "The system was designed together to make sure all the different parts worked and work in conjunction with each other."<h2>'So, you want linear types?'</h2>When Maurer first started working on Libra about a year ago, he ended up printing out so many academic studies for research that he broke the office printer, he says. During this period, he realized that blockchain is specifically designed for sensitive assets like money and other financial instruments. But there aren't any programming languages designed to handle those uses, in the same way that languages like Python are designed to handle large data sets. Maurer brought up his concerns with Facebook research scientist Sam Blackshear. As Maurer was rambling on about the problem, Blackshear broke it down: "So, you want linear types?"Now, linear types are one of core features of Libra. It uses linear logic, which means a resource can be neither copied nor discarded, only moved around between the various subroutines of a program. This linear approach is desirable for applications like Libra - you don't want money to be copied or discarded either, after all. Still, Maurer says, there were no programming languages that specifically took this into account. Underscoring its special purpose, Move has a special feature, known as resource values, to prevent programmers from making the mistake of accidentally copying Libra coins. Without it, it could be like pulling a $10 bill out of your pocket to give to a friend, and then pulling that same $10 bill out of your pocket again. Move ensures that these resource values are moved exactly once, instead of copied, so coins move around without the possibility of duplication. "It's dealing with moving assets around and defining how assets are stored in the blockchain," Maurer said. Read more: <a href="https://www.businessinsider.com/facebook-cyrptocurrency-libra-calibra-questions-2019-6">6 things we're still wondering about Libra, Facebook's new cryptocurrency coming in 2020</a>Move is still in its infant stages and is primarily used for Libra, but Maurer predicts that over time, developers will use it to build various applications for sending money. Blackshear has even heard tell of a chemistry teacher who wants to use Move to teach students how to balance chemical reactions."People have taken all sorts of different applications and explored them being on blockchain," Maurer said. "That's something where we'll start to see people experiment with different directions. That's something that will evolve over time." <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-to-spot-fake-designer-goods-2018-12">An authentication expert at The RealReal showed us how to spot fake designer accessories</a></h3> <div> </div> </div>

The tech lead of Facebook's new cryptocurrency subsidiary explains Move, the programming language it designed specifically for Libra

Thomson ReutersServers for data storage are seen at Advania's Thor Data Center in Hafnarfjordur, IcelandThe hottest trend in cryptocurrency was just dealt a serious blow. On Monday, cryptocurrency trading startup <a href="https://www.coindash.io/">CoinDash</a> reported its site was hacked during an initial coin offering, according to reporting from <a href="https://www.bloomberg.com/news/articles/2017-07-17/coindash-says-hacker-stole-7-million-at-initial-coin-offering?utm_content=markets&amp;utm_campaign=socialflow-organic&amp;utm_source=twitter&amp;utm_medium=social&amp;cmpid%3D=socialflow-twitter-markets">Bloomberg's Alexandria Arnold</a>. Approximately $500 million has been raised by the new cryptocurrency-based fundraising method, according to <a href="http://www.businessinsider.com/initial-coin-offerings-explained-icos-token-crowdsale-2017-7">Business Insider's Oscar Williams-Grut</a>. It is a trend that has sparked excitement across Wall Street. A number of startups have used ICOs to raise capital. Gnosis, a prediction market for digital currency Ethereum, <a href="https://cointelegraph.com/news/fastest-ever-ico-ethereum-based-gnosis-creates-300-mln-in-minutes-raising-12-mln">raised $12 million in just 10 minutes in April.</a> Brave, a new web browser startup set up by the founder of Mozilla, made that look pedestrian, <a href="https://cryptoinsider.com/basic-attention-token-sale-raises-35-million-less-30-seconds/">raising $35 million in less than 30 seconds selling "Basic Attention Tokens" last month.</a>But the hack, which redirected $7 million worth of ether tokens, provides a reason for folks to be skeptical of the red-hot investment vehicle. "Investors had been instructed to pay with ethereum and send funds to the token sale's smart contact address. In an email, CoinDash said it appeared that the sending address was hacked and changed to a fraudulent address," Bloomberg's Arnold wrote. Wall Street skeptics were quick to cite the rapid appreciation of cryptocurrencies like bitcoin and ether tokens as one reason why intial coin offerings are a bad concept. David Rutter, a Wall Street vet who heads R3CEV, a fintech startup, previously told Business Insider. "There's approximately 200 coins now. If you had an analyst look at it, this is a typical kind of bubble, in that folks that have made money in bitcoin are trying to parlay that into other kinds of cryptocurrencies and now they're moving out of those."CoinDash, however, is resolute that it will overcome this hiccup. "This was a damaging event to both our contributors and our company but it is surely not the end of our project," the firm said in a statement. "We are looking into the security breach and will update you all as soon as possible about the findings."Get the latest Bitcoin price<a href="http://markets.businessinsider.com/currencies/BTC-USD"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/study-seattle-minimum-wage-university-washington-2017-7">A study on Seattle's minimum wage hike shows $100 million a year in lost payroll for low earners</a></h3> Please enable Javascript to watch this video

The hottest trend in cryptocurrency was just dealt a big blow

MIEthereum is up about 1,700% since last year.<a href="http://markets.businessinsider.com/currencies/eth-usd">Ethereum</a>, the red-hot rival to bitcoin, has been on a tear since the beginning of last year, but one of its founders thinks the cryptocurrency is in a bubble ready to pop, <a href="https://www.bloomberg.com/news/articles/2017-07-18/ethereum-co-founder-says-crypto-coin-market-is-ticking-time-bomb">according to reporting by Bloomberg's Camila Russo</a>.Ethereum is up 1,700% over the last year, and that spike has occurred in tandem with the growth of the hottest new trend in fundraising: initial coin offerings. Approximately $500 million has been raised by the new cryptocurrency-based capital raising method, according to <a href="http://www.businessinsider.com/initial-coin-offerings-explained-icos-token-crowdsale-2017-7">Business Insider's Oscar Williams-Grut</a>. It is a trend that has sparked excitement across Wall Street. But the cofounder of the <a href="https://www.ethereum.org/">company behind the cryptocurrency</a>, Charles Hoskinson, told Bloomberg that initial coin offerings will spell disaster for the currency's future. "People say ICOs are great for Ethereum because, look at the price, but it's a ticking time-bomb," Hoskinson said. "There's an over-tokenization of things as companies are issuing tokens when the same tasks can be achieved with existing blockchains. People are blinded by fast and easy money."A number of startups have used ICOs to raise capital. Gnosis, a prediction market for digital currency Ethereum, <a href="https://cointelegraph.com/news/fastest-ever-ico-ethereum-based-gnosis-creates-300-mln-in-minutes-raising-12-mln">raised $12 million in just 10 minutes in April.</a> Brave, a new web browser startup set up by the founder of Mozilla, made that look pedestrian, <a href="https://cryptoinsider.com/basic-attention-token-sale-raises-35-million-less-30-seconds/">raising $35 million in less than 30 seconds selling "Basic Attention Tokens" last month</a>."Hoskinson joined the ethereum founding team in late 2013 and left in June 2014 as he advocated for a for-profit entity while others in the team led by Vialik Buterin wanted to keep it as not-for-profit," Russo wrote.Ethereum was conceived by Vitalik Buterin, a young programmer who was told about bitcoin by his father and decided to create a platform for smart contracts; which bitcoin is not designed to do. <a href="https://www.bloomberg.com/news/articles/2017-07-18/ethereum-co-founder-says-crypto-coin-market-is-ticking-time-bomb">Read the full story on Bloomberg.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/scott-nations-5-biggest-stock-market-crashes-history-striking-similarities-2017-7">The 5 biggest stock market crashes in history have 'striking' similarities</a></h3> Please enable Javascript to watch this video

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Mozilla halts cryptocurrency donations after climate impact backlash

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Wikimedia Foundation stops accepting cryptocurrency donations after eight years

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Mozilla cofounder accuses the internet browser company of partnering with 'planet-incinerating Ponzi gifters' by accepting crypto donations

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The tech lead of Facebook's new cryptocurrency subsidiary explains Move, the programming language it designed specifically for Libra

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The hottest trend in cryptocurrency was just dealt a big blow

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ETHEREUM COFOUNDER: Ethereum is 'a ticking time bomb'

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