The hearing was held by the Oversight and Investigations subcommittee, U.S. Congress House Energy and Commerce Committee on Jan. 20 to examine the environmental impacts of cryptocurrency mining. Despite the narrow focus, the conversation that ensued — which many industry experts appraised as a meaningful educational experience for the lawmakers — touched upon a range of blockchain-related issues and themes beyond energy consumption. Let’s see how the conversation went and what lies ahead.

Witnesses established the frame

After the opening remarks, hearing began withWitnesses testifying. Brian Brooks from Bitfury stated that the market should decide how to best use existing energy. Brooks also maintained that proof-of work (PoW), was the consensus mechanism that can produce decentralization within a blockchain network.

Crypto mining: How do you get there?

Reception for the industry

Policies implications