Skip to main content

Climate activists call for changes in the Bitcoin code

 


The operation of computing parks for mining remains lucrative. According to estimates, Bitcoins worth around 15 billion euros were mined in the last year alone. However, the costs for the climate are just as gigantic as the profits of the miners. That is why climate activists have joined forces to promote a change to "Proof-of-Stake". Newspaper ads are currently being placed under the title “Change the Code, Not the Climate” so that the high level of electricity consumption caused by Bitcoin can soon be reduced. At the moment, the cryptocurrency consumes about as much energy as Sweden does in a year. So there is plenty of potential for savings.


This is one of the reasons why crypto billionaire Chris Larsen (Ripple) sees himself encouraged and is counting on a change in the Bitcoin protocol. If nothing changes, according to Larsen, cryptocurrencies will consume more electricity than all of Japan in 5 years. The environmental protection organization Greenpeace would also like to prevent this. It is unclear whether she will spend as much money as Larsen (5 million) to promote a turnaround in the industry.


one thing is certain:

There are already many cryptocurrencies that operate in a much more energy-efficient manner. These include Cardano (ADA) and Solana (SOL). As soon as Ethereum (ETH) switches to proof-of-stake, Bitcoin will finally fall behind, Larson suspects. If the second largest crypto changes the code base, up to 99% of the previous energy costs would be saved.


Change of heart among Bitcoin supporters?

The Bitcoin community is not known for being open-minded and innovative. It is all the more important for the activists to get strong support on board. Possible ideal partners include Paypal, Goldman Sachs, Black Rock and Fidelity - giants of the financial sector.

However, it is also clear that the battle cannot be won tomorrow or the day after tomorrow.


It is therefore important to raise awareness among as many large investors as possible about the poor climate balance of Bitcoin. Meanwhile, China is getting serious and banning bitcoin mining. However, this has not defused the situation. Instead of giving the climate a breather, mining capacity has been shifted to the US. According to industry insiders, a switch to proof-of-stake is rather unlikely.

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

British financial regulator criticizes cooperation between Binance and Paysafe

  The British financial regulator FCA has expressed concerns about the partnership between market-leading crypto exchange Binance and payment service provider Paysafe. As the British regulator complains, the partnership gives Binance access to the influential British payment network Faster Payments Service (FPS), from which the crypto exchange was previously cut off. Last June, the FCA ordered Binance to stop all business activities in Great Britain. As a result, prominent banks such as Barclays have terminated their cooperation with the leading crypto trading platform . Through the cooperation with Paysafe, Binance can now again offer deposits in British pounds sterling and transactions within the European Payments Area (SEPA). However, this fact is a thorn in the side of the FCA, as it classifies the crypto exchange as a “considerable risk factor”. However, the financial regulator sees little room for maneuver to counteract this, as the Financial Times reports . “ Paysafe understands
Post a Comment
Read more