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PayPal proposes "Green Mining Initiative" to encourage low-carbon energy sources for Bitcoin mining

PayPal proposes "Green Mining Initiative" to encourage low-carbon energy sources for Bitcoin mining

CointimeCointime2024/04/23 11:52
By:Cointime

PayPal's Blockchain Research Group has proposed a solution to accelerate the clean energy transition for Bitcoin mining. The "Green Mining Initiative" suggests using cryptoeconomic incentives to encourage miners to use low-carbon energy sources. The solution involves identifying "green miners" using a validation platform and preferentially routing transactions to them with low transaction fees. The idea is to incentivize green miners with additional Bitcoin rewards, increasing the likelihood that on-chain transactions will be routed to them. Bitcoin's environmental impact has been a topic of debate, with some arguing that mining could incentivize the use of renewable energy.

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