Ripple CEO and Founder Chris Larsen has announced a plan for Bitcoin Miners (BTC) to retire from work (PoW) and consider it “favorable for longevity”.

He argues that listed mining companies have a significant impact on the value of their shares, because “every new code proposal has a lucrative incentive to gain their support”.

PoW is a bargaining algorithm that offers bitcoin transactions on Blackchain. Although the Bitcoin system is highly secure and reliable, the power of the BTC mines has caused endless controversy in the field of cryptocurrencies. In a blog post on November 10, Larsen wrote:

“The solution for on-air professionals is to convert the bitcoin code into a low-power compliance algorithm, similar to other basic encryption protocols,” he said. For example, if bitcoin is used by 12 million households in the US each year, other methods could transfer it to less than 100 US households. ”
Ethereum is already in the middle of the process. Although Larsen said he would make Bitcoin “more convenient”, he acknowledged that most Bitcoin mining companies would oppose a similar change.

However, he proposes to fix “900 bitcoins a day from black gifts” and to “distribute about 2.1 million bitcoins by 2140”.

He suggests that the “least annoying” solution to Bitcoin’s power problem is to “get a glimpse of the current fragmentation rate of miners today and thereby reward miners based on compression strength”.

“Existing miners are eligible for future bitcoin awards without spending extra energy or investing in mining facilities.”
The millionaire businessman explained that a business plan gives minors “extra financial income” and “profitable income” because they have the same income with lower electricity costs.

He asserted that his confession had been obtained through torture, and that his confession had been obtained through torture.

“These assets are very lucrative for existing miners, especially as Bitcoin moves from the current aviation disaster to real green financial technology.”
The company specializes in a number of mining companies in the United States, including Stronghold Digital Mining (SDIG), Hive Blockchain Technologies (HIVE), Canon (CAN), Riot Blockchain (RIOT), BIT Mining (BTCM), Bit Digital (BTBT), and Bitform. (BITF). Attracted attention. ) And Marathon Digital Mining (MARA).

In fact, these proposals are approved by Bitcoiners – or miners who want to increase their hash-rate share and lose extra profits through this plan. Given the controversy over block resizing, if there is some support for the proposal, it will definitely lead to a POW intersection.

Source: CoinTelegraph