VICTORIA, Seychelles, May 25, 2021 (GLOBE NEWSWIRE) — Enecuum Network Ltd has proudly announced the launching of blockchain protocol for decentralized Web3 applications. The protocol is actually based on a combination of proof-of-activity, proof-of-work, and proof-of-stake. Meanwhile, the proof-of-activity is very energy efficient and it is possible to run the node even on smartphone without worrying about battery consumption.
Could Proof-of-Activity Solve Blockchain’s Energy Problem?
Elon Musk’s recent criticism of Bitcoin’s excessive energy consumption caught many by surprise. After all, hadn’t the Tesla boss added $1.5 billion worth of BTC to the company’s balance sheet back in February? And hadn’t the company rolled out support for the asset a month later, with the world’s media excitedly reporting that crypto could be exchanged for an electric vehicle?
As it turns out, the volatility of the market is nothing compared to the volatility of Musk’s mood. In a May 12 tweet, the PayPal cofounder suspended vehicle purchases using Bitcoin citing concerns about “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal”.
While reiterating his belief that cryptocurrency has a promising future, Musk burnished his green credentials by saying this could not come “at great cost to the environment.” Tesla would, he claimed, use bitcoin for transactions as soon as mining transitions to more sustainable energy.
Needless to say, the comments have reignited a long-raging debate about the environmental impact