Chris Larsen, co-founder of Ripple also joined in on the call, stating Bitcoin is the “outlier” now that Ethereum’s model is set to
Some environmental groups, including Greenpeace, and co-founder and executive chairman of Ripple (XRP), Chris Larsen, have launched a new campaign aimed at changing Bitcoin (BTC) to a more environmentally friendly consensus model.
A campaign called “Change the code, not the climate” is trying to pressure key industry leaders and miners into moving to a new consensus model.
“If only 30 people — the key miners, exchanges and core developers who build and contribute to Bitcoin’s code — agreed to reinvent proof-of-work mining or move to a low-energy protocol, Bitcoin would stop polluting the planet.”
Coal waste and natural gas are being used as ways to fuel miners’ operations, according to a report by Greenpeace.
After accepting donations for seven years, the organization stopped accepting them due to environmental concerns. The CEO of Musk stopped accepting payments for his cars.
In the final stages of a new proof-of-stake mechanism, the same proof-of-work mechanism used by Bitcoin is being used by Ethereum. Due to its lower energy consumption, proof-of-stake is less harmful than other methods.
“Now with Ethereum changing, Bitcoin really is the outlier,” Larsen said to Bloomberg in an interview published on Tuesday. “Some of the newer protocols, Solana and Cardano, are built on low energy,” he added.
Larsen said that he owns Bitcoin and Ethereum, and he wants to see both cryptocurrencies succeed. But, he said that Bitcoin is heading down an unsustainable path.
His statement that if he was concerned about Bitcoin as competition for Ripple, he would let it continue, could indicate that the competition between Ripple and Bitcoin will continue.
At current prices, some of the largest mining companies hold in excess of 5,000 BTC, which equates to $237 million, and data shows that they are increasing their hash rate.
Changing Bitcoins would make their expensive equipment much less valuable, meaning sunk costs or other creative solutions would have to be implemented, according to the manifesto of the environmental group.
Chris Bendiksen was quoted in the report as saying:
“I’d put the chance of Bitcoin ever moving to PoS at exactly 0%. There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”
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