Bitcoin Honeymoon Over? NYC Mayor Comes Out Against PoW - BitcoinEthereumNews.com
Bitcoinबिटकॉइन हनीमून खत्म हो गया है? NYC मेयर PoW के खिलाफ सामने आए02 / 10 / 2022बिटकॉइन एथेरियम समाचार Per a New York Post report, recently elected NY Mayor Eric Adams has revealed his positions against Bitcoin and crypto mining. The politician run on a campaign that vouched to make the U.S. city a “center of cryptocurrency trading”. Related Reading | NYC Mayor Will Keep His Promise And Convert First Paycheck To Bitcoin And Ethereum Oddly enough, Adams promised to take his first three paychecks in Bitcoin, the largest crypto by market cap, but also the largest in terms of mining. The cryptocurrency uses a Proof-of-Work consensus algorithm which requires computational power to secure the network and validate transactions, this mechanism has seen heavy criticism for its alleged environmental impact. According to the New York Post, Adams participated in a joint session of state legislators in Albany, where he emphasized his support for crypto trading, but not crypto mining. Apparently, the newly elected Major has seen opposition from environmentalist groups. Bitcoin mining and crypto mining, in general, is considered highly energy-consuming. High profile personalities in the business world and other sectors, such as Tesla CEO Elon Musk, have come out against it sparking a fresh