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20 sats \ 1 reply \ @cryptocoin 19 Oct 2022 \ on: See what these EU geniuses have come up with bitcoin
By comparison, proof-of-stake mining -- which is now used by Ethereum -- can use 99.9% less energy than proof-of-work. The idea is that a labeling system could encourage other cryptocurrencies to make the switch.
In the event of an electricity shortage, countries must also be ready to stop mining activities, the EU will recommend.
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20 sats \ 0 replies \ @cryptocoin 19 Oct 2022
The EU wants to halt #bitcoin mining operations in northern Norway, Sweden, and Iceland in case of an energy emergency further south in Europe.
Energy is stranded in these places, so halting mining operations there will not lead to more energy on the continent.
https://twitter.com/JMellerud/status/1582395785773076481 [Nitter]
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