proof of work
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EU Regulator Wants to Ban Proof of Work Crypto Mining to Avoid Climate Disaster
One of the European Union’s top regulators has a new proposal for reducing cryptocurrency’s carbon footprint: ban proof of work mining. The proposed prohibition, suggested by European Securities and Markets Authority Vice Chair Erik Thedéen during a Financial Times interview, would apply to EU nations and would come in tandem with a pivot to a less…
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The Regulations That Could Help Reduce Bitcoin’s Carbon Footprint
The price of bitcoin has hit record prices this month, and that’s bad news for the climate. As the price of the currency shoots up, so does the energy consumption as people are incentivized to mine more bitcoin. And a new paper published Wednesday in the journal Joule estimates that by the end of the…