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Bitcoin needs to adopt PoUW protocol, says Hoskinson

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Bitcoin needs to adopt PoUW protocol, says Hoskinson 2

Charles Hoskinson talked about the increasingly tight policies on high carbon emission sources and suggested Bitcoin miners adopt alternative protocol to sustain the future of Bitcoin.

Charles Hoskinson is CEO of Input Output Hong Kong (IOHK). IOHK is a development team that was founded by Charles after leaving the Ethereum blockchain project because he disagreed with other founders about the future use cases of the Ethereum ecosystem. Recently IOHK introduced a proof-of-useful-work (PoUW) protocol for the Proof-of-Work crypto miners.

On 9 September, Charles Hoskinson shared a video on Twitter and talked about the recent White House recommendations about cracking down on all energy-consuming industries which also include the Bitcoin mining sector.

Through the video, Hoskinson suggested to the Bitcoin miners to use the PoUW protocol to mine Bitcoin because it will help Bitcoin to sustain its existence in the future. 

According to Cardano’s founder, this new protocol for Bitcoin miners will help to reduce carbon emissions because of the Bitcoin mining operations.

PoUW protocol & security issuesย 

It is not 100% guarantee, whether the PoUW protocol proposed by IOHK is better or not in terms of security but it can help the Bitcoin miners to mine the blocks easily.

According to experts, if PoUW will make Bitcoin mining very simple or it will lower the complexity of Bitcoin mining then it will force Bitcoin miners to create more blocks with the same resource. 

And also it will help the attackers because mining problems will become simple, so it will make this new protocol risky to some extent but still developers of this new protocol say that they can fix these issues easily.

Read also: Celsius misleading claims to investors about companyโ€™s financial health, as per Court Filing

Bitcoin needs to adopt PoUW protocol, says Hoskinson

 

https://bitcoinik.com/bitcoin-needs-to-adopt-pouw-protocol-says-hoskinson/feed/

https://bitcoinik.com/bitcoin-needs-to-adopt-pouw-protocol-says-hoskinson/feed/

 

 

 

 

 

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