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Ripple's Camp Attacks Bitcoin Mining With 'The Stupidest Idea' Again
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Ripple's executives keep bashing Bitcoin (BTC) mining, this time by suggesting a new idea that was labeled "the stupidest idea" of 2021 by a mining expert.
Bitcoin should move away from the “climate disaster” that is its proof-of-work (PoW) consensus mechanism, and instead, embrace a model where existing miners receive rewards without doing anything, Ripple’s Chairman and Co-founder Chris Larsen argued in a new proposal.
“The emerging solution among climate experts is that Bitcoin’s code needs to be changed to a low energy consensus algorithm like those used by nearly all other major crypto protocols,” Larsen advocated for a transition to the alternative proof-of-stake (PoS) algorithm.
He added that the main challenge to make such a change
Read more on cryptonews.comAbout this in other media
Bitcoin hash rate nears record 200EH/s as 100K BTC turns 'illiquid' every month cointelegraph.com /2 years ago
Metamining Uses An Innovative Cooling Solution To Make Bitcoin Mining Farms Viable In The Middle East cryptonews.com /2 years ago
Hive Blockchain on track to mine more Bitcoin, less Ether this quarter cointelegraph.com /2 years ago
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