“Digital assets, and their related mining activities, are essential to the economic future of the United States,” said the group of 14 lawmakers. A group of 14 United States senators and House representatives have signed a letter to the Environmental Protection Agency extolling what they believe are the benefits of crypto mining. In a Thursday…
Read more
Bitcoin improvement proposals are an essential part of cryptocurrency governance. Learn here what they are and how they work. What are the types of Bitcoin improvement proposals (BIPs)? There are three main kinds of BIPs: standard, informational and consensus BIPs. Standard BIPs They identify standards used by Bitcoin software like wallets or exchanges and aim…
Read more
Bitcoin mining’s climate impact has been heavily criticized, but the emissions of corporate cash and investments have often flown under the radar. The Carbon Bankroll Report was released on May 17 as a collaboration among the Climate Safe Lending Network, The Outdoor Policy Outfit and Bank FWD. The collaboration made it possible to calculate the…
Read more
A report by the Riksbank makes the case for banning Bitcoin mining in Sweden over proof-of-work energy consumption concerns; Bitcoin Twitter was quick to react. Another day, another environmental attack on proof-of-work (PoW) mining. A report shared by the Swedish central bank argued that energy-intensive Bitcoin (BTC) and cryptocurrency mining should be banned. The Swedish central bank,…
Read more
A founding member of Ethereum has claimed that Bitcoin uses nearly 1% of the world’s electricity, but different sources put it substantially lower. The ever-raging debate around Bitcoin’s energy consumption has been re-ignited, with founding member of Ethereum Anthony Donofrio claiming that Bitcoin is using “way too much” energy. According to figures from Digiconomist, Bitcoin…
Read more
Max Shannon, Digital Asset Analyst at major European digital asset investment firm CoinShares._____ The Merge aims to move Ethereum from Proof of Work (PoW) to Proof of Stake (PoS), and provide the foundation for increased scalability and reduced energy consumption. Detrimental trade-offs in terms of censorship resistance, trust minimization, and decentralization could occur as…
Read more
The Ropsten test network (testnet) — also referred to as Ethereum (ETH)’s first dress rehearsal for the upcoming Merge, when the current Ethereum Mainnet will merge with the beacon chain proof-of-stake (PoS) system — successfully went through The Merge yesterday…. Read More: Ethereum’s Ropsten Test is ‘Almost’ Bug-Free, Two More Testnets to Go Before…
Read more
In addition to eco-friendly components, the IMF recommended central banks to include other features in the CBDCs, such as compliance, higher resilience and offline capabilities. An International Monetary Fund (IMF) study on energy consumption revealed the importance of design choices within the crypto ecosystem to build an environmentally friendly mainstream payment system. In the study entitled…
Read more
A key derivatives metric used by margin traders has hit a record-high, but there’s plenty of risk and a catch to consider. Bitcoin (BTC) has been unable to close above $32,000 for the past 28 days, frustrating bulls and pushing the Fear and Greed index to bearish levels below 10. Even with June 6’s small…
Read more
The state of New York passed a bill that puts a moratorium on specific types of cryptocurrency mining operations that leverage carbon-based energy sources. The policy will place a two-year ban on proof-of-work (PoW) mining if the assembly bill is approved by New York governor Kathy Hochul. New York PoW Mining Moratorium Legislation to Be…
Read more
