Chris Larsen Believes BTC Has To Stop Damaging The Environment

One of XRP’s creators Chris Larsen believes BTC has to stop being so damaging to the environment in order to succeed in the future and stay dominant so let’s see more in our latest BTC news today.

Bitcoin has to clean up its acts to survive as one of the XRP creators Chris Larsen believes.
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According to Larsen, BTC won’t survive for long if it keeps on using so much energy and there are other alternatives like proof of stake that are the way to go. Larsen said in a Medium post:

“I would argue that such a change is critically important for Bitcoin to remain the world’s dominant cryptocurrency.”

#bitcoin incentivizes renewable energy https://t.co/KCe5bwdVs4

— jack (@jack) April 21, 2021

Proof of Work is an energy-intensive consensus mechanism that powers the BTC blockchain and rivals countries in its capacity to suck up electricity. PoW is a way to mine BTC which is when powerful computers run proof of work software and race to solve complicated math puzzles to earn some coins. To compete with all of the other computers on the network, these computers need to become more powerful and this means using more energy. Larsen noted:

“With more individual investors and corporations taking significant bitcoin positions- PoW is heading for levels society will find tough to tolerate as the world works to avert a climate disaster.”

As per Digiconomist, bitcoin mining leaves a carbon footprint that is comparable to the one compared to the entire country of Bulgaria. A single transaction could power the average US household for over a month as per the calculations. Larsen believes that the defenses of proof of work as spurious and the defenders claim that PoW isn’t as bad. They also believe that it will incentivize renewable energy and that its energy needs will decrease over time. Larsen continued:

“We should see PoW for what it is- a brilliantly designed technology that is becoming outdated in today’s world.”

In order to remain dominant, proof of work cryptocurrencies will adapt and he also thinks that XRP that uses a federated blockchain and relies on a few people that are allowed to process transactions is much more sustainable, claiming that the blockchain is already energy-efficient. He concluded;

“These technologies are battle-tested and proven to be decentralized.”