New York Times: Bitcoin ‘Is Expected to Eventually’ Move to Proof of Stake Consensus

According to an article published on Wednesday (April 14) in The New York Times, “Ethererum, has said it is moving toward proof of stake (that switch is likely to take up to another year), and Bitcoin is expected to eventually follow.”

The article by Hiroko Tabuchi, who is a climate reporter for The New York Times, is mostly about how “cryptocurrencies’ heavy environmental toll is starting to roil climate policy.”

Tabuchi says that “Bitcoin mining’s heavy energy usage owes in large part to its reliance on what’s called ‘proof of work’ — a computing method that’s intentionally designed to be inefficient to keep currencies transparent and decentralized.”

Near the end, Tabuchi talks about proof-of-stake (PoS), mentioning that Ethereum is changing its consensus mechanism to PoS and that Bitcoin will eventually follow Ethereum and adopt PoS.

One of the first people in the crypto community to notice The New York Times’ confusion about Bitcoin was Alex Gladstein:

Warren Togami, VP Solutions at Blockstream, replied:

I’m politically moderate and didn’t think the MSM was biased until now. It feels like they are pushing an agenda when the reporting is against reality to this extreme. For now I’m naive enough to expect them to do better. Issue a correction or my belief in your neutrality erodes.

Featured Image via Pixabay.com

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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