The Environmental Concerns of Proof of Work
Bitcoin intially adopted the Proof of Work model to protect the network and prevent double-spending. However, the power consumption of Bitcoin, and the use of fossil fuels in the asset’s mining has persistently raised environmental concerns.
In a recent interview, Anatoly Yakovenko, the co-founder of Solana, asserted that he believes Bitcoin could lose its users if it fails to adopt the more power-efficient Proof of Stake (PoS) consensus mechanism.
Bitcoin Must Transition to Proof of Stake
Earlier this year, Ripple’s co-founder, Chris Larsen, proposed that Bitcoin should adopt a PoS model.
Yakovenko believes that most cryptos will also migrate to Proof of Stake with time, and Bitcoin must be one of them. He said in the interview:
On the Flipside
Why You Should Care
Leading projects like Ethereum and Dogecoin are already in different phases of their migration from Proof of Work to the Proof of Stake model.
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Source: Cryptocurrency - investing.com
