Climate groups to bitcoin: Cut the pollution, and the B.S.
Retrieved on:
Thursday, September 15, 2022
Ethereum, Bitcoin, Jack Dorsey, Fire, Coal mining, Policy, Risk, Working group, PayPal, Legislation, Life, Air pollution, Investment, Pressure, Pennsylvania (song), Fidelity Investments, Mining, Electricity, Climate, Technology, Public health, Biophysical environment, Greenpeace USA, Miner, Water pollution, Code, BlackRock, Congress, Atmosphere, Cryptocurrency, Greenpeace, Block
WASHINGTON, Sept. 15, 2022 /PRNewswire/ -- As ethereum, the world's second largest cryptocurrency, dramatically cuts its climate pollution, environmental groups have intensified pressure on bitcoin to meet or beat ethereum's environmental performance. Ethereum's long-awaited "merge" to a proof of stake consensus mechanism uses 99.95 percent less energy, leaving bitcoin as the largest cryptocurrency using the outmoded high-energy proof of work consensus mechanism.
Key Points:
- Ethereum has shown it's possible to switch to an energy-efficient protocol with far less climate, air and water pollution.
- Bitcoin has become the outlier, defiantly refusing to accept its climate responsibility," said Michael Brune, director of the "Change the Code, Not the Climate" campaign.
- President Biden signed an executive order in March that highlighted the connection between cryptocurrency mining and the climate crisis.
- "If ethereum can change its code to cut air pollution and climate disruption, why can't bitcoin?