{"id":12834,"date":"2024-04-23T13:19:34","date_gmt":"2024-04-23T10:19:34","guid":{"rendered":"https:\/\/forklog.com\/en\/paypal-to-encourage-eco-friendly-bitcoin-mining\/"},"modified":"2024-04-23T13:19:34","modified_gmt":"2024-04-23T10:19:34","slug":"paypal-to-encourage-eco-friendly-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paypal-to-encourage-eco-friendly-bitcoin-mining\/","title":{"rendered":"PayPal to Encourage Eco-Friendly Bitcoin Mining"},"content":{"rendered":"<p>The PayPal Blockchain research team has <a href=\"https:\/\/pyusd.mirror.xyz\/P2fyue5RNhdOAV_IREgLPkj70vk-7zLAAw7Rk39s0iw\">proposed<\/a> a solution aimed at accelerating the transition of Bitcoin miners to clean energy sources.<\/p>\n<p>In collaboration with EnergyWeb, the payment company&#8217;s specialists have developed a platform offering &#8220;crypto-economic incentives&#8221; to environmentally friendly Bitcoin miners.<\/p>\n<p>These &#8220;green miners&#8221; will be accredited with specially marked public keys.<\/p>\n<p>It is anticipated that Bitcoin transactions will be primarily directed to these miners due to lower fees. Additionally, they will receive BTC rewards from funds locked in a multisig address.<\/p>\n<p>Eco-friendly miners will be motivated to process these transactions, as only they will have the right to receive incentives through their &#8220;green&#8221; key.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"641\" height=\"376\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Green_Mining_Initiative_2024.pdf-Google-Chrome-pdf.jpg\" alt=\"Green_Mining_Initiative_2024.pdf - Google Chrome\" class=\"wp-image-231209\"\/><figcaption class=\"wp-element-caption\">Solution operation scheme. Source: PayPal Blockchain.<\/figcaption><\/figure>\n<p>Bitcoin, as the leading cryptocurrency using the Proof-of-Work algorithm, has traditionally faced criticism for its <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miners-set-record-energy-consumption-in-february\">high energy consumption<\/a> and negative environmental impact.<\/p>\n<p>In March, the American branch of Greenpeace published a report on the harm of digital gold mining. The community <a href=\"https:\/\/forklog.com\/en\/news\/greenpeace-report-on-bitcoin-mining-faces-industry-backlash\">criticized the document<\/a> for numerous factual errors.<\/p>\n<p>Earlier, Norwegian authorities announced restrictions on Bitcoin mining in the country, allegedly due to greenhouse gas emissions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The PayPal Blockchain research team has proposed a solution aimed at accelerating the transition of Bitcoin miners to clean energy sources. In collaboration with EnergyWeb, the payment company&#8217;s specialists have developed a platform offering &#8220;crypto-economic incentives&#8221; to environmentally friendly Bitcoin miners. These &#8220;green miners&#8221; will be accredited with specially marked public keys. It is anticipated [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1259,182],"class_list":["post-12834","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-ecology","tag-paypal"],"aioseo_notices":[],"amp_enabled":true,"views":"81","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12834"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12833"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}