Bitcoin Mining’s Threat to Environment Prompts Effort to ‘Change the Code, Not the Climate’ – CNET

His past work has appeared at print and online publications, including New Mexico Magazine, TV Guide, Mental Floss and NextAdvisor with TIME.

Greenpeace USA, the Environmental Working Group and other organizations are calling for the bitcoin blockchain, the ledger that records transactions, to switch from its current proof-of-work system to a proof-of-stake model.

The campaign comes amid a boom in bitcoin mining operations in the US that’s resuscitated business at coal plants, which belch out emissions that contribute to the climate crisis.

To be part of the proof-of-staking process, miners need to offer a certain amount of coins as collateral.

The Ethereum Foundation, which supports the ethereum blockchain, the native blockchain of ether, the second-largest cryptocurrency by market cap after bitcoin, has planned to change from proof of work to proof of stake for a while.

Cruz, a Texas Republican, has said he sees the mines as a way to support his state’s power grid.

…Read the full story