Why Proof Of Stake Is The Future Of Sustainable Crypto?
Bitcoin has been the subject of conflict the last few weeks because of its evident large carbon footprint. While the lovers and detractors have been fighting to crown Bitcoin as the number 1 cryptocurrency, several developers have been working to develop a faster, greener, and sustainable consensus algorithm.
Bitcoin is built on a Proof of Work consensus algorithm that, in simple terms, means that to mine new blocks for Bitcoin and record transactions, it relies on mining hardware. This mining hardware requires a constant supply of high power, which generally comes from coal mining plants resulting in higher costs and carbon footprint.