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Crypto mining won’t survive another round of environmental legislation -Breaking

by Mike Robinson

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Only a matter time. China has imposed a banOn (BTCYou can use it for trading, mining and other crypto-related services. To do anything with Bitcoin anywhere in the People’s Republic, one needs a special exemption. The Chinese government’s given reason for the Bitcoin crackdown is to Its well-documented climate effects can be reduced. Regardless of the amount of truth in this explanation, one thing is clear: China’s righteous anger toward electricity-guzzling and carbon-spewing mined cryptocurrencies in the service of Earth’s climate is only the first shot in an impending global showdown over Bitcoin and other crypto projects that rely on proof-of-work (PoW), the complicated crypto security mechanism we subsume under “mining.” This does not seem like a battle crypto can or will win.

Many cryptocurrency lovers who hold Bitcoin are faced with this difficult reality. There is an alternative, though it has the exact same name as coal mining. Because there are more advanced, cleaner and cheaper options, as well as more technology, coal is in its final days. Alternatives.

Dominik SchienerHe is co-founder of Iota Foundation in Berlin, which is a non-profit foundation. He oversees partnerships and the overall realization of the project’s vision. Iota, a cryptocurrency and distributed ledger technology that is used in the Internet of Things, is his project. He also won the biggest blockchain hackathon held in Shanghai. Since the beginning of his career, he’s been working to make the Iota platform a reality.