Charles Hoskinson believes that Bitcoin's switch to a new protocol is necessary for its survival.
Bitcoin Needs to Adopt an Upgrade Similar to Caradano’s to Survive: Charles HoskinsonCharles Hoskinson believes that Bitcoin’s switch to a new protocol is necessary for its survival.
The White House’s latest report mentions the excessive usage of energy by several industries, including cryptocurrency mining, was brought up by IOG CEO Charles Hoskinson. He went on to say that the paper, published on the order of President Joe Biden, essentially seeks to ban Bitcoin, which is based on Proof-of-Work consensus mechanism, due to energy consumption.
Given the adoption scale of the digital asset space, Hoskinson believes carbon scoring of crypto mining by authorities across the world is inevitable. While reinstating his stance that PoS is highly superior to PoW, the exec noted,“It is very clear that there are people in this administration and various political parties throughout the world that really do want to start carbon scoring the mining of cryptocurrencies.
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