Bitcoin mining is one of the biggest issues that many environmentalists are concerned about because it requires a huge amount of energy and with the transition of Ethereum to Proof of Stake (PoS), people are wondering if the biggest The world’s cryptocurrency also needs a change. In light of this topic, Ripple co-founder and executive chairman Chris Larsen and Greenpeace have launched a new campaign.
Campaign to make Bitcoin environmentally friendly
Bitcoin mining rigs are notorious for using excessive energy, as evidenced by the recent power cuts in Kazakhstan, which has become the third largest BTC mining area. On the other hand, the campaign launched by Chris Larsen and Greenpeace aims to reduce the energy used by the extraction process by 99.9%.
If just 30 people – the major miners, exchanges, and core developers who build and contribute Bitcoin’s code – would agree to reinvent proof-of-work mining or switch to a low-power protocol, Bitcoin would cease to exist. pollute the planet. So why isn’t Bitcoin changing its code?
Citing the example of Ethereum, the official campaign calls on all major backers of Bitcoin, the world’s first and largest cryptocurrency with a market capitalization of USD 905 billion, to replace energy-intensive proof-of-work by a cleaner alternative like proof-of-work.
The campaign also points to the fact that many people in the crypto community are extremely “driven by a sense of progress, fairness and good intentions” and want much cleaner alternatives to Bitcoin mining that uses proof of work that the campaign describes as “obsolete”. ”
ETH 2.0 approaches
The merger will be responsible for merging the beacon chain that tracks proof-of-stake and the Ethereum mainnet, confirming the successful transition of ETH to ETH 2.0. This will confirm that there will be no need to mine ETH, but staking will be the new way forward. Therefore, compared to Bitcoin, ETH 2.0 will be cleaner in terms of environmental impact.