Ripple co-founder Chris Larsen recently formed a campaign group to exploit such unflattering comparisons.
“I don’t think this campaign will help transitioning Bitcoin to PoS.
Again, this view is shared widely by industry figures who say they believe in Bitcoin as a secure and decentralized form of electronic money/value.
Jeffrey notes that proof-of-work remains the most battle-tested mechanism for securing a decentralized store-of-value network.
According to the Bitcoin Mining Council, 58.5% of the global mining industry used at least some sustainable energy in Q4 2021, up from 36.8% in Q1 2021.
Given that the vast majority of the Bitcoin community is happy to lean on the cryptocurrency’s apparently growing use of renewables, it’s highly unlikely that the Change the Code campaign will succeed in driving it towards PoS anytime soon.
“I think it will go away quickly.
“It would just make more sense to add this pressure on Ethereum instead – as the community has been promising to move to PoS for years .