Charles Hoskinson says Bitcoin must adopt the Cardano Ophimian protocol to survive

Charles Hoskinson says Bitcoin must adopt the Cardano Ophimian protocol to survive


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Yuri Molchan

The IOG founder recommends that Bitcoin adopt the Ofelimous protocol developed by Cardano, and this is why

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Cardano founder, IOG and co-creator of Ethereum, Charles Hoskinson, has recorded a video commenting on recent White House recommendations to crack down on all energy-intensive industries, including bitcoin mining.

Hoskinson believes that the recently introduced Cardano protocol of Ofelimous could help Bitcoin survive as a cryptocurrency. Ofelimous is a useful Proof of Work protocol created to reduce the carbon footprint of Proof of Work chains, such as Bitcoin and many other coins.

Ophilmus Protocol from Cardano

philimos It is a recently introduced, proven secure, Proof of Work protocol that aims to minimize the amount of energy used by Proof of Work chains. Unlike Proof of Work, Proof of Work ensures that the computational power of miners is geared towards solving problems coming from the real world.

However, this makes the blockchain they have adopted less secure, as an attacker may use the system to solve easy problems, thus creating more blocks that miners use with the same resources. However, Cardano asserts that Ofelimous can easily solve this dilemma.

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Hoskinson recommends that bitcoin miners switch to this PoUW protocol in order to reduce their carbon footprint, which is now comparable to that left by small nations.

White House Proposes Banning Cryptocurrency Mining Unless It Gets Greener

A group of lawmakers from the White House published a report by order of President Biden in March of this year, regarding the excessive use of energy by various industries, including cryptocurrency mining.

In short, the report recommends that if these industries cannot significantly reduce their energy consumption, they should be banned. The large carbon footprint of the Bitcoin blockchain has been an issue that BTC critics have raised several times. Recent reports indicate that the amount of energy used by BTC miners (the network runs on the PoW consensus protocol) is equal to that consumed by small countries around the world.

With the rapid rise in the prices of current energy resources, this issue has become more and more important. Recommend reportHowever, switching to the PoW blockchain’s Proof of Stake protocol would drastically reduce the amount of power they use.

Switching to alternative crypto-asset technologies like Proof of Stake could dramatically reduce overall energy use to less than 1% of today’s levels.

The aforementioned Cardano is working on this protocol, and Ethereum, the second largest blockchain, is about to switch over to PoW as well. The much-anticipated integration upgrade will take place in about a week – between September 15-20.





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