Climate activists put pressure on bitcoin
Many organizations in the environmental segment continue to put pressure on the bitcoin ecosystem. They demand to improve its climate performance to that of ether, which has moved away from the consensus Proof-of-Work algorithm since the launch of The Merge global update.
The experts noted that the Proof-of-Stake mechanism is 99.95% greener than the proof-of-work algorithm that continues to be used on the bitcoin network. Greenpeace has issued a petition urging regulators to influence the cryptocurrency community to eventually switch to the Proof-of-Stake algorithm as well.
In turn, the company Change the Code, Not the Climate is ready to allocate $1 million for advertising promotion of this concept. According to the head of this organization, Michael Brun, natural disasters keep happening all over the world. At the same time, many organizations, in the the course of their activity, make a negative impact on the environment.
Ethereum has shown with its example that it is possible to switch painlessly to a more energy-efficient and environmentally friendly algorithm.
Many cryptocurrencies have long been working on the Proof-of-Stake scheme. The expert also added that the bitcoin community defiantly refuses to take responsibility for the planet’s climate.
Earlier, the editors of AroundCrypto.net reported: over the previous 30 days, the total hash rate in the Ethereum Classic network has increased by almost 200%. Experts suggest that such dynamics is due to the transition of ethereum to the new PoS consensus algorithm. Against this background, many miners are considering alternative cryptocurrencies that work within the PoW framework. Also, an influx of crypto miners to the Ravencoin ecosystem may occur in the near future.