What are the possibilities of mining issues resolving after BTC switch to PoS? -

Campaign demanding for bitcoin to transition its protocol from proof of work to proof of stakes, claiming that it would minimize the environmental effects

Several experts are being observed claiming that transitioning the bitcoin network consensus mechanism is as easy as switching some codes. That could make the mining process such that it won’t consume enough energy and ultimately be safer for the planet.

Controversies around crypto mining and its effect have stayed here for a long time, gradually increasing that it has become a concern for various environmentalists and people in general since several reports and analyses claim its ill effects on the environment. The arguments keep on both sides; one keeps saying it’s harmful while the other keeps saying it isn’t that damaging.

On the one hand, many say that mining crypto does not use enough energy as environmentalists think it does, while others say that the process is damaging. In the end, it would cause the planet irreversible harm.

For example, Elon Musk-like personalities have taken action directly or indirectly against the mining process. Musk had gone too far to cancel the decision that was made last year about allowing all people to purchase Tesla vehicles in exchange for bitcoin, i.e., users could pay in bitcoin to purchase from the company. But later, Tesla’s CEO had to end this process, claiming that he was not sure of the mining effects of bitcoin on the atmosphere and later turned to the decision of using bitcoin and later went with Dogecoin payments.

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However, the ongoing campaign launched is called Change the Code, Not the Climate, which is now calling out for a simple code switch in the bitcoin network. The leaders of this campaign claim that this simple little change could turn the table, and that alone can make real crypto mining less dangerous by about 99%. The organization mentioned here consists of members of different groups, including the Environmental Working Group, Greenpeace USA, and several others concerned about the planet earth’s health.

The notion that bitcoin needs a change as a switch from proof-of-work to proof-of-stakes came from another popular and first smart contract enabled network chain Ethereum which is turning towards the PoS mechanism in its most anticipated upgrade Ethereum 2.0. The change would make the network conserve energy, have faster transaction speed, and have lesser transaction fees.

Many people say that bitcoin needs to employ similar moves to keep the network more conscious about the environment. In an interview, the director of campaign Michael Brune said that this is huge for some parts as to where this industry stands for now while for others because of concerns regarding its growth.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing