Summary
PayPal’s Blockchain Research Group, in partnership with Energy Web and DMG Blockchain Solutions, has proposed the “Green Mining Initiative” to encourage Bitcoin miners to use low-carbon energy sources. The initiative involves identifying “green miners” and incentivizing them with additional Bitcoin rewards for prioritizing on-chain transactions with low fees. This aims to address Bitcoin’s environmental impact and encourage the use of renewable energy in mining operations.
Key Points
1. The blockchain research division of PayPal has proposed a fix to accelerate the clean energy transition for Bitcoin mining.
2. PayPal’s Blockchain Research Group, in partnership with Energy Web and DMG Blockchain Solutions, has published a research paper on the “Green Mining Initiative” to encourage miners to use low-carbon energy sources.
3. The solution outlined in the research paper involves identifying “green miners” using a validation platform and incentivizing them with additional Bitcoin rewards for prioritizing on-chain transactions with low transaction fees.