Energy consumption Bitcoin (BTC) It’s been controversial for years, but skyrocketing energy prices have made it a lot worse. The US government finds a secret That it is running out of power and the protocol of the world’s largest cryptocurrency must change, as it turns out A message from the Biden government. Cardano (ADA) Co-founder Charles Hoskinson agrees, and he has a workable solution.
US Government: Climate Is More Important Than Bitcoin Mining
The US government is known as It is mostly open to bitcoin mining, but at the same time it tries to ensure that the country achieves its climate goals. Apparently, the government thinks climate goals are more important after all. That’s why it contains a file announced On the impact of cryptocurrencies on the climate.
This states, among other things, that cryptographic networks will be evaluated based on their impact on the climate. It must meet certain criteria for “very low energy consumption”, although it did not say whether and what those criteria actually exist. According to the announcement, if this does not happen, the government can block these protocols.
Cardano wants Bitcoin Rescue from ban
Cardano has recently Introduced Ofelimous Protocol. This protocol is based on a consensus mechanism that CardanoProof of useful work It was stated that the power consumption of such a network should be significantly reduced. This makes it pass Miners to solve “useful problems”, so that the miners together are actually a kind of big computer.
It is somewhat similar to Ethereum with the Ethereum Virtual Machine (EVM). However, the EVM is not part of the Ethereum consensus mechanism. Instead, regular server services run on an Ethereum Virtual Machine. Companies that want to build on Ethereum can rent server capacity from such a party, but this does not make the network more secure.
Cardano founder Charles Hoskinson aims to address the inadequacies of mining by converting Proof of Work currencies like Bitcoin into tokens using a new Proof-of-Useful-Work concept. Network security is based on EVM-like accounts. Hoskinson asserts that malicious miners can abuse the mechanism by performing very simple tasks. Fortunately, according to the programmer, this problem is relatively easy to solve.
Climate and Energy Impacts on Crypto Assets in the US https://t.co/SpHAyvnOwu
– Charles Hoskinson (@IOHK_Charles) September 8, 2022
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