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ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Name | Bitpanda Asset Management GmbH, Bitpanda GmbH |
Relevant legal entity identifier | 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 |
Name of the crypto-asset | Wallet Connect |
Consensus Mechanism | WalletConnect Network does not utilize a traditional blockchain consensus mechanism such as Proof of Work (PoW) or Proof of Stake (PoS). Instead, it operates as a decentralized communication protocol that facilitates secure connections between decentralized applications (dApps) and cryptocurrency wallets across various blockchain ecosystems. The network employs end-to-end encryption to ensure the confidentiality and integrity of the data exchanged between parties. This design allows users to interact seamlessly with dApps using their preferred wallets without relying on a centralized intermediary. |
Incentive Mechanisms and Applicable Fees | The WalletConnect Network uses the WalletConnect Token (WCT) to support participation and decentralization. While initially fee-free, the network may introduce usage fees over time through governance decisions. Node operators and participants are rewarded in WCT based on performance, such as uptime and reliability. WCT can also be staked, allowing holders to earn rewards and take part in protocol governance. This model aims to ensure long-term sustainability and align the interests of infrastructure providers, wallets, and users. |
Beginning of the period | 2024-09-09 |
End of the period | 2025-09-09 |
Energy consumption | 269238.60000 (kWh/a) |