A wall of crypto mining rigs.
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What’s happening
Environmental groups, led by Greenpeace and the Environmental Working Group, have launched a campaign calling for changes to the software behind bitcoin in order to make cryptocurrency network less energy intensive.
Why it matters
Bitcoin, the most popular of all cryptocurrencies, is an energy hog that is estimated to use as much energy every year as some countries, such as Norway and Sweden.
An alliance of environmental groups launched a campaign Monday to make bitcoin less energy intensive through changes to the software powering the cryptocurrency network.
Greenpeace USA, the Environmental Working Group and other organizations are calling for the bitcoin blockchain, the ledger that records transactions, to switch from its current proof-of-work system to a proof-of-stake model. Proof of stake is less energy intensive than proof of work.
The campaign, which uses the…
