According to a campaign launched on Tuesday, 29th March 2022, the bitcoin mining has already been using as much energy as Sweden, and according to the reports, the booming popularity of bitcoin mining has been revitalizing the failing fossil fuel enterprises in the United States. But all this can possibly change with a simple switch in the way it has been coded.
The campaign, which is called as Change the Code Not the Climate and it has been coordinated by the Environmental Working Group, the companies like Greenpeace USA and many other groups have been battling the bitcoin mining facilities in the communities has been calling on bitcoin for changing the way in which bitcoins are mined in order for tackling the outsized carbon footprint.
The software code used by bitcoin known as the proof of work has been requiring the use of the massive computer arrays for securing and validating the transactions, and the proof of work has been a way of checking that, a bitcoin miner has solves the highly complex cryptographic puzzles that are needed for adding to the ledger of bitcoin.
The United States of America has been leading the world in the mining of the crypto-currency after China has launched a crackdown on the trading and mining. With the value and use of the crypto-currencies increasing, and the organizers of the campaign are arguing the bitcoin must follow the suit and intensive and less energy consumption.
Ram is a leading news contributor for IndustryWatch24 and specialises in writing about technology. His enthusiasm for the most recent technological advancements, such as Bitcoin and AI technology, among others, is evident in the most recent industry coverage he offers. He currently presents his analysis of popular business and technological fields, which gives his writing a present and unique perspective.