Ripple co-founder: skip proof-of-work for bitcoin

Ripple co-founder: skip proof-of-work for bitcoin

Bitcoin Ripple co-founder Chris Larsen was also involved in the discussion that mining is causing air pollution. Larsen is the largest cryptocurrency, Ethereum For example, ‘Proof of work’ should go by ‘Proof of stock’.

In a blog post on the Medium, Larsen, referring to April 22 as being celebrated as Earth Day, said that the bitcoin community should now move beyond the Proof of Work to Proof of Stake. Noting that climate change and especially environmental pollution are the most important issues that need to be discussed for economies and societies, Larsen said, “This cannot be done by simply switching to renewable energy. “Vain, unnecessary energy must also be reduced.”

“Let’s encourage miners and exchanges to move away from PoW”

Stating that cryptocurrency is reaching more and more people tomorrow and all that is done for a more inclusive and uniform financial system, Ripple co-founder Bitcoin said it remained in the old-fashioned PoW technology:

“Many cryptocurrencies are now emerging with low energy technology. But early protocols such as bitcoin still use proof-of-work (PoW) technology to verify transactions. This causes a huge carbon emission. Let’s encourage major miners, exchanges and core developers such as Bitcoin Code Creators to consider moving away from PoW. “

As will be remembered, Bill Gates and Ripple CEO Brad Garlinghouse also said that bitcoin harms the environment and criticizes the system.

Bitcoin community denies claims

Recently, these criticisms against bitcoin have been dismissed by the bitcoin community. Particularly well-known ARK Invest and Twitter CEO Jack Dorsey’s payment company Square, which has bitcoin investments, published a joint report on the issue.

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In the report, it stated that bitcoin was a leader in the use of renewable energy and mining began to be done by acquiring too much power, especially with solar panels.

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About the author: Seth Grace

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