De Vries, the researcher, says that even if miners move on to cleaner energy sources, the industry still won’t be sustainable. All it will do is crowd out other consumers of clean energy in order to perform a function that, in his analysis, is entirely pointless.
In September, Ethereum, the second-most-traded cryptocurrency, abandoned the “proof of work” model for generating coins—i.e., mining—for “proof of stake,” a complicated cryptographic process that doesn’t require…
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