Democrat Rep. Jared Huffman has sent a letter to the Environmental Protection Agency (EPA) requesting an investigation into the environmental impact of Proof-of-Work (POW)-based crypto mining. The legislator’s intention is to promote the mechanism based on Proof of Participation (PoS) which, according to him, is 99% more efficient in energy terms. The response of the crypto referents came quickly and the controversy broke out.
Discussions around POW mining have been at the center of the crypto scene for months, and the scenario is divided between those who believe that the elimination of these processes would seriously affect the ecosystem, and those who prioritize a reduction in environmental impact. In any case, with or without POW, the energy impact of the industry is nowhere near the pollution levels of the traditional financial system.
According to Huffman, a single Bitcoin transaction could feed “an average American household for a month”. Furthermore, he noted that Bitcoin, with its current mechanism, produces as much annual CO2 emissions as Greece.
Jesse Powell, CEO of the Kraken exchange, was one of the first crypto benchmarks to come out on the cross. On his Twitter account, the CEO briefly reviewed the issue and wrote: “I can only conclude that it is malice because I know they are not that stupid.”
“I think the PoS fans attacking POW are real supervillains. The game is not zero sums. Energy is expendable. Some things cost more energy because they are better. My laptop sucks more juice than my calculator for a reason. Both are good and can coexist. They are not interchangeable, “Powell added.