Ripple’s former CEO wants to alter the code of Bitcoin.In the area of technology, there is competition, the sector of cryptocurrencies has also evolved into a fervent one
According to rumors, Chirs Larsen is starting a “Change the Code, Not the Climate” campaign alongside climate activist group Greenpeace and others. This crusade aims to persuade the Bitcoin community to change the energy-intensive means by which transactions are carried out, which already consumes as much energy as Sweden. Larsen claims that in five years, Bitcoin’s energy use will be comparable to Japan’s.
Bitcoin mining has remained one of the concerns highlighted by not only environmental groups but also prominent individuals like Elon Musk, and governments around the world. Chris Larsen has remained an active participant in this group advocating to move away from proof-of-work. Continuing on his quest, the executive chairman of Ripple alongside Greenpeace and others was reaching out to key people and corporations in hopes of compelling the leadership to agree to change the PoW.
Michael Brune, in charge of the campaign, stated:
“We are in this campaign for the long haul, but we are hoping — particularly since Bitcoin is now being financed by entities and individuals who care about climate change — that we can compel leadership to agree that this is a problem that needs to be addressed. Goldman Sachs, BlackRock, PayPal, Venmo, Fidelity — there are lots of companies we anticipate will be helpful to this effort.”
Crypto mining has been targeted around the world and in the U.S. many communities are growing increasingly frustrated hosting Bitcoin miners, adding to excessive noise and power consumption. This was a recurrent problem after China pushed out the miners from the country.
The leader of the cryptocurrencies or king coin as it is often referred to, Bitcoin, and its community may have to do something to solve this issue. As a competitor and leader of the altcoin, Ethereum moves from PoW to PoS, it should be a priority for Bitcoin to make changes in the way transactions are carried out.
Chirs Larsen-Ripple Co-Founder called Bitcoin an outlier and noted
“Now with Ethereum changing, Bitcoin really is the outlier. Some of the newer protocols — Solana, Cardano — are built on low energy”
Larsen who is a supporter of XRP and holds Bitcoin and Ether donated $5 million for the campaign, however, he did not believe that the digital asset will continue to receive favors from investors unless it changes.
Nevertheless, Larsen clarified that this campaign was not bringing down rival crypto.
“If I was concerned about Bitcoin as a competitor, probably the best thing I could do is let it continue on this path. This is just an unsustainable path,” Larsen said.
While the moto was to see “Bitcoin and Ethereum succeed,” pressure mounts on Bitcoin to keep up with the changes or fight the decentralization war.
However, Larsen clarified that, even though he represented Ripple, the organization had zero involvement in his crusade against Bitcoin. He stated:
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Ripple Co-Founder Wants To Change The Bitcoin Code
Ripple’s former CEO wants to alter the code of Bitcoin.In the area of technology, there is competition, the sector of cryptocurrencies has also evolved into a fervent one
According to rumors, Chirs Larsen is starting a “Change the Code, Not the Climate” campaign alongside climate activist group Greenpeace and others. This crusade aims to persuade the Bitcoin community to change the energy-intensive means by which transactions are carried out, which already consumes as much energy as Sweden. Larsen claims that in five years, Bitcoin’s energy use will be comparable to Japan’s.
Bitcoin mining has remained one of the concerns highlighted by not only environmental groups but also prominent individuals like Elon Musk, and governments around the world. Chris Larsen has remained an active participant in this group advocating to move away from proof-of-work. Continuing on his quest, the executive chairman of Ripple alongside Greenpeace and others was reaching out to key people and corporations in hopes of compelling the leadership to agree to change the PoW.
Michael Brune, in charge of the campaign, stated:
“We are in this campaign for the long haul, but we are hoping — particularly since Bitcoin is now being financed by entities and individuals who care about climate change — that we can compel leadership to agree that this is a problem that needs to be addressed. Goldman Sachs, BlackRock, PayPal, Venmo, Fidelity — there are lots of companies we anticipate will be helpful to this effort.”
Crypto mining has been targeted around the world and in the U.S. many communities are growing increasingly frustrated hosting Bitcoin miners, adding to excessive noise and power consumption. This was a recurrent problem after China pushed out the miners from the country.
The leader of the cryptocurrencies or king coin as it is often referred to, Bitcoin, and its community may have to do something to solve this issue. As a competitor and leader of the altcoin, Ethereum moves from PoW to PoS, it should be a priority for Bitcoin to make changes in the way transactions are carried out.
Chirs Larsen-Ripple Co-Founder called Bitcoin an outlier and noted
“Now with Ethereum changing, Bitcoin really is the outlier. Some of the newer protocols — Solana, Cardano — are built on low energy”
Larsen who is a supporter of XRP and holds Bitcoin and Ether donated $5 million for the campaign, however, he did not believe that the digital asset will continue to receive favors from investors unless it changes.
Nevertheless, Larsen clarified that this campaign was not bringing down rival crypto.
“If I was concerned about Bitcoin as a competitor, probably the best thing I could do is let it continue on this path. This is just an unsustainable path,” Larsen said.
While the moto was to see “Bitcoin and Ethereum succeed,” pressure mounts on Bitcoin to keep up with the changes or fight the decentralization war.
However, Larsen clarified that, even though he represented Ripple, the organization had zero involvement in his crusade against Bitcoin. He stated:
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Annie
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