Advanced Bitcoin
A green cryptocurrency initiative introducing a highly energy-efficient Advanced Bitcoin Chain and Wallet, with a unique mining algorithm offering fast transactions and reduced environmental impact.User Review
AI Review
A1
Reviewed on 13 Feb 2024 02:54 PM
Projects must be at least 3 months old. Newer projects should establish themselves and submit to the next round.
The Advanced Bitcoin Center's green project was launched in April 2022, which satisfies the minimum age requirement of 3 months for the project.
The Grant must be primarily focused on climate solutions (the group may do other work but the grant proposal should be directly related to climate solutions). The proposal should explicitly outline how this project will help reduce GHGs or is an important core infrastructure for web3 climate solutions.
The Advanced Bitcoin project aims to save energy and reduce greenhouse gas emissions by creating a more efficient cryptocurrency, which directly ties into climate solutions.
Grantees who received funding in previous rounds should report on project progress since GR15 or the Alpha round. We understand that some projects may have less progress given the timing of Alpha round disbursements. This will ensure accountability to supporters and also help encourage contributors by showing what you’ve been accomplishing.
Without information about whether the Advanced Bitcoin project has received funding in previous rounds and if they have provided reports on their progress, it is not possible to determine their eligibility based on this criterion.
All returning grantees are expected to update their proposal, in addition to project updates the proposal should include lessons learned from previous work and how they will use the additional funding from the upcoming round. The updated proposal should indicate how additional funding will help the project meet its goals, and include a rough timeline for the project overall.
There is no information provided that indicates whether Advanced Bitcoin is a returning grantee or if they have updated their proposal to include lessons learned, further funding usage, and an overall timeline.
There is a general expectation that projects are within the “realm of viability”. Even if a project may be at a very early stage, it still must seem credible to the average person with an understanding of web3 technology and climate solutions. Grantee founders must genuinely intend to build the project, and the project must not broadly be considered an impossibility.
The Advanced Bitcoin project, while ambitious, does not seem inherently impossible. It aims to improve upon existing blockchain technology in a way that could be credible to someone with an understanding of web3 and climate solutions.
Grantees can be eliminated from consideration in the round if they are found to be encouraging or enabling Sybil attacks or other forms of malicious manipulation of the grants platform or the Gitcoin community.
There is no evidence provided to suggest that Advanced Bitcoin has engaged in such activities, but without explicit confirmation, one cannot be certain of their standing regarding this criterion.