Bitcoin’s position as the top gun in the cryptoverse has never been in doubt. However, Anatoly Yakovenko, co-founder of , believes that could lose out if it doesn’t migrate from Proof of Work in the near future.

Proof of Work: Environmental Concerns

To protect its network and avoid double-spending, Bitcoin initially adopted the Proof of Work method. However, the power consumption of Bitcoin, and the use of fossil fuels in the asset’s mining has persistently raised environmental concerns.

Anatoly Yakovenko was the co-founder of Solana and stated in a recent interview that he thinks Bitcoin will lose its users, if it doesn’t adopt the stronger Proof of Stake (PoS), consensus mechanism.

Bitcoin Must Change to Prove of Stake

Earlier this year, Ripple’s co-founder, Chris Larsen, proposed that Bitcoin should adopt a PoS model.

Yakovenko thinks that many cryptos will eventually migrate to Proof of Stake. Bitcoin is one of those. In an interview, Yakovenko stated that:

“This is probably the most controversial thing that you’ll get me to say, but eventually, if it (Bitcoin) doesn’t move to proof of stake, nobody is going to use it. Because it is simply more efficient to build a Proof of Stake system.”

In addition to this, Yakovenko believes that Bitcoin’s nature as a PoW chain might be an underlying reason for why it lacks a thriving Layer-2 ecosystem.

Flipside

• The Bitcoin miners have begun to shift away from fossil fuels and are now taking a new approach. To be more sustainable, greener mining.

What You Need to Care About

It is already possible to see leading projects such as in the transition from Proof of Work into Proof of Stake.

Continue reading on DailyCoin