ECB report likens PoW to fossil fuel cars, PoS to electric vehicles

2022.07.16 01:06

Amid the soaring inflation, the European Central Bank (ECB) has found time to sum up its concerns about the “significant carbon footprint” of Bitcoin (BTC) and other cryptocurrencies, which require vast amounts of computational power.

ECB published the report titled “?” on July 12. In the report, the ECB research group reinforces the environmental narrative about the battle of protocols, where the proof-of-work (PoW) concept represents a threat to the planet. In contrast, the proof-of-stake (PoS) is the only sustainable crypto option, experts argue.

ECB report likens PoW to fossil fuel cars, PoS to electric vehicles