Greenpeace criticized bitcoin miners

The largest international environmental organization Greenpeace, which is fighting for the revival of the environment, said that the usual way of bitcoin mining is extremely harmful to nature. According to them, all miners should switch to another mechanism that will save the environment, Proof-of-Stake.

Greenpeace is of the opinion that mining production has a direct impact on climate change, which miners do not want to agree with. An international organization that protects the environment wants the miners of the main cryptocurrency asset to find a new way that will not pollute nature and allow mining to be carried out in a safer way.

In the direction of crypto enthusiasts, Rolf Scar spoke on behalf of the Greenpeace organization:

At the moment, bitcoin is in danger of falling seriously behind the entire industry as others work to avert the climate crisis. While some companies are trying to modernize the approach, making changes in the way they mine and store crypto assets, bitcoin mining is becoming increasingly dirty - coal is still the main source of electricity.

Greenpeace's idea is based on the transition from Proof-of-Work bitcoin mining to Proof-of-Stake. The differences are that PoW is directly connected to power plants and consumes a large amount of electricity, which negatively affects greenhouse gas emissions into the air, which pollutes the air. Proof-of-Stake, in turn, allows bitcoin mining by distributing shares between bitcoin owners and avoiding large interactions with capacities.

The issues of the release of negative gases into the air were dealt with by researchers at Cardiff University:

Our results show that when air pollution levels are high, people tend to cut back on travel and switch to indoor activities, which leads to an increase in electricity consumption in general, whether it be heating, cooling and lighting or an increase in the use of household appliances.

At the same time, the Proof-of-Work mining model still exists, and most likely the miners have determined that this method is more efficient than Proof-of-Stake. In addition, the process of obtaining bitcoins slows down every 4 years, which is called halving. Thus, the economic system of the cryptocurrency world is deflationary in nature, and not inflationary, as is the case with conventional financial resources in the real world. With the current rate of mining of the flagship crypto asset, all resources will run out in the next century.