Tron’s creator Justin Sun agreed with Elon Musk on the environmental concerns over Bitcoin’s carbon footprint while he predicted that the bull market will resume in July and August of this year so let’s see more in our latest Tron news.
Tron’s Justin Sun agreed with Elon Musk’s concerns on the carbon footprint that BTC mining gives out and he believes that proof of work consensus algorithms have flaws and urged people to strive for other green alternatives. Justin Sun agreed with Elon Musk who made the same comments a few weeks ago when he halted BTC payments for his electric cars and ever since then, Musk outlined the high levels of energy used by the primary crypto and urged miners to use even more renewable energy.
His comments started a wave of discussions within the crypto circle as well as outside of it with people weighing in from both sides.
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The latest to agree with Musk now was the CEO of TRON. In an interview with Bloomberg, he referred to Musk’s views as legit and noted that the entire industry has to find a new green energy solution. Sun thinks that miners are utilizing renewable energy but the efforts are not enough. He outlined the merits of the proof of stake consensus algorithm over the ones of the proof of work that BTC uses.
Sun argued that the POS is able to reduce the carbon footprint by 99% which is why most blockchain projects are going for it. Shortly after Musk made the comments, China reiterated its negative stance on Bitcoin and the country even went after bitcoin mining causing major price disruptions on the market. Sun also said that there’s no single person or a factor that can control the market as he believes that the 50% correction was supposed to happen at some point as most assets surged in USD value over the past few months.
Although China will continue to implement stringent restrictions on crypto using, Sun noted that the industry will grow even further. He concluded that the crypto bull run paused and he thinks that it will resume in July and August of this year.
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