Greenpeace Blasts Bitcoin, Says Ethereum Merge Proves Crypto ‘Doesn’t Have To Come on the Cost’ of Environment – The Daily Hodl
2 min read
Greenpeace is slamming Bitcoin (BTC) for its power use following the profitable Ethereum (ETH) merge that slashed its carbon emissions by greater than 99%.
The environmental nonprofit group plans to sink $1 million into its “Change the Code, Not the Climate” marketing campaign for a flurry of latest on-line advertisements to advocate for a change in Bitcoin’s code with the purpose of lowering BTC’s energy-intensive proof-of-work (PoW) mannequin.
Says Michael Brune, director of the advert marketing campaign,
“With fires raging around the world and historic floods destroying lives and livelihoods, state and federal leaders and corporate executives are racing to decarbonize as quickly as possible. Ethereum has shown it’s possible to switch to an energy-efficient protocol with far less climate, air and water pollution. Other cryptocurrency protocols have operated on efficient consensus mechanisms for years. Bitcoin has become the outlier, defiantly refusing to accept its climate responsibility.”
Greenpeace says the marketing campaign can also be geared toward calling the eye of high-profile Bitcoin supporters, together with Constancy Investments and Jack Dorsey’s Block, to hitch within the effort of shifting away from “a high-energy proof-of-work protocol.”
Ethereum’s merge with its Beacon Chain remodeled the second-largest cryptocurrency from a proof-of-work consensus mannequin to a proof-of-stake one. The change in fashions reduces Ethereum’s carbon emissions by an estimated 99.99%, in keeping with a CCRI report commissioned by ConsenSys, a blockchain software program firm.
In the meantime, outspoken Bitcoin supporter Michael Saylor is defending BTC’s power use in a brand new weblog put up the place he calls it the “most efficient, cleanest industrial use of electricity.”
The former CEO of enterprise analytics agency MicroStrategy says that his firm’s evaluation exhibits about 59.5% of power for Bitcoin mining comes from sustainable sources and that BTC’s mining’s power effectivity improved by 46% year-on-year.
He additionally it is not sensible to check proof-of-stake networks to Bitcoin.
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