/PRNewswire/ - At COP26 in Glasgow, Scotland, Blockchain for Climate Foundation launches the BITMO Platform, an innovative tool to help countries achieve their.
VANCOUVER, BC, Nov. 3, 2021 /PRNewswire/ At COP26 in Glasgow, Scotland, Blockchain for Climate Foundation launches the BITMO Platform, an innovative tool to help countries achieve their climate
June 9, 2021 2:46 PM PDT
Chinaâs crypto crackdown is going into overdrive. China arrested more than a thousand people for using crypto in money-laundering today. Meanwhile, Chinaâs most popular internet services, such as Weibo and Baidu, reportedly censored crypto exchanges commonly used by Chinese traders.Â
Typing in the names of exchanges like Huobi, Binance and OKEx failed to yield results on websites Weibo, Zhihu and Baidu. Itâs not a blanket crackdown: common crypto terms like bitcoin and ethereum did not seem to be blocked. But Chinaâs squeeze on the crypto industry is now operating on multiple fronts.
Last weekend, popular crypto accounts were suspended on Weiboâs social media platform.Â
June 1, 2021
Most cryptocurrencies need energy-intensive computers to keep the market moving. A new verification model could remove the need for those machines.
SHOW TRANSCRIPT
It’s no secret that cryptocurrencies are notoriously bad for the climate.
Right now, Bitcoin uses as much energy as Pakistan and has a carbon footprint comparable to Libya. Ethereum, another popular cryptocurrency, uses the same amount of electricity as Singapore.
But there is a solution on the horizon. Experts think that a switch from the proof-of-work system to a proof-of-stake system could drastically reduce cryptocurrency energy usage. Let s explain what that means.
Currently, cryptocurrencies like Bitcoin or Ethereum operate on a proof-of-work system, which uses power-hungry, specialized computers to verify transactions for people sending cryptocurrencies on a ledger known as a blockchain.