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'Change the code, not the climate': New campaign launched to make Bitcoin eco-friendly
Bitcoin mining is one of the biggest issues that concern many environmentalists as it requires a huge amount of energy and with the transition of Ethereum to Proof of Stake (PoS), people are wondering if the world's biggest cryptocurrency needs a change too. In the light of this topic, Ripple co-founder and executive chairman Chris Larsen and Greenpeace have launched a new campaign.
Campaign to make Bitcoin eco-friendly
Bitcoin mining rigs are known to use excessive energy, evident from the recent power outages in Kazakhstan, which became the third biggest BTC mining zone. On the other hand, the campaign launched by Chris Larsen and Greenpeace aims to cut off the energy used by the process of mining by 99.9%.If only 30 people — the key miners, exchanges, and core developers who build and contribute to Bitcoin’s code — agreed to reinvent proof-of-work mining or move to a low-energy protocol, Bitcoin would stop polluting the planet. So why isn’t Bitcoin changing its code?Citing the example of Ethereum, the official campaign calls forth all the major backers of Bitcoin, the world's first and biggest cryptocurrency with a market cap of 905 billion USD, to replace the energy-expensive proof-of-work with a cleaner alternative like proof-of-work.
The campaign also points out the fact that many people in the crypto community are overwhelmingly "motivated by a sense of progress, fairness, and good intentions" and want much cleaner alternatives to Bitcoin mining which uses Proof of Work which the campaign calls "outdated."
ETH 2.0 approaches
The Merge will be responsible for merging the beacon chain which follows proof-of-stake and the mainnet of Ethereum, confirming the successful transition from ETH to ETH 2.0. This will confirm that there will not be any need to mine ETH but staking will be the new way to go. As a result, when compared to Bitcoin, ETH 2.0 will be cleaner in terms of environmental impact.Continue reading by joining Cryptonary Pro
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