Home Cryptocurrency News Altcoin Bitcoin Green Drops Mining in Favor of Proof-of-Stake

Bitcoin Green Drops Mining in Favor of Proof-of-Stake

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Most people will readily agree the last thing we need is more versions of Bitcoin. As of right now, four different versions of Bitcoin are in the cryptocurrency top 100 by market cap. It now seems Bitcoin Green wants to make an impact in this regard as well. Rather than doing things the traditional manner, the team is intent on embracing the proof-of-stake model.

It is evident Bitcoin Green will become a thing, whether people like it or not. This new version of the world’s leading cryptocurrency is all about proof-of-stake. While this new currency will still be decentralized, it aims to be more sustainable in the long run. With mining wasting so much electricity, it is only normal proof-of-stake makes a lot more sense to some people.

Does Bitcoin Green Een Matter in the end?

As of right now, the Bitcoin Core developers don’t consider this to be a viable approach. Proof-of-stake has its own set of issues as of right now. How Bitcoin Green will address those problems, is explained in the project’s whitepaper. Even so, this fork will be rather controversial for many different reasons. It is another project trying to ride the coattails of Bitcoin in the hopes of capitalizing on its success.

There is a good chance people make good money from Bitcoin Green. Especially during the first week or two, the initial interest will be quite high. It is evident people will follow the money, and BITG will have its time to shine. From a long-term perspective, however, it seems there is no real plan in place as of right now. With no merchant adoption planned, it seems Bitcoin Green is doomed to fail before it even becomes a thing.

As is always the case, there is the question of exchanges supporting Bitcoin Green. Right now, there is only a handful to speak of. With BITG trading on Cryptopia and CoinExchange, among others, it will be interesting to see what the future will bring. Even so, this is not an aidropped currency, which means existing Bitcoin holders won’t automatically get BITG. An interesting choice, although one that also raises a lot of questions

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