Environmental groups want Bitcoin to follow Ethereum's lead by moving to proof-of-stake

Critics have suggested that Bitcoin could not function as the same decentralized currency without a consensus mechanism like proof of work.

The Ethereum blockchain's transition from proof-of-work to proof-of-stake has reduced its power consumption by more than 99% — and many climate activists have called on Bitcoin to follow suit.

In a notice released Thursday after the merger, the U.S.-based Environmental Working Group, or EWG, said it would launch a million-dollar campaign aimed at inducing Bitcoin (BTC) to drop to green rather than using an "obsolete". protocol” like PoW. The announcement came as environmental activity group Greenpeace launched a petition directly to Fidelity Investments to ease the transition to point of sale.

“Other cryptocurrency protocols have operated on effective consensus mechanisms for years,” said EWG Campaign Manager Michael Brune. “Bitcoin has become the outlier, defiantly refusing to accept its climate responsibility.”

Bitcoin Climate Groups: Reduce Pollution, and B.S. https://t.co/qExsfJfDLd

Speaking to Cointelegraph, EWG Senior Vice President of Government Affairs Scott Faber suggested that the Merge event was generally “good for the climate” by reducing the energy requirements of the Ethereum blockchain. He cited a September report from the White House Office of Science and Technology Policy that concluded that cryptocurrencies — specifically noting PoW staking — significantly c...