2023-06-03 17:40:02
News JVTech Bitcoin soon less polluting? Scientists seem to have found the solution
From year to year, Bitcoin welcomes new followers on its network, which always requires more energy. However, some are working to find solutions, like a team of researchers who recently pinpointed an astonishing alternative intended to change the way Bitcoin works.
Le Proof of Work de Bitcoin
Due to its high energy consumption, Bitcoin frequently faces criticism over its environmental impact. Precisely, these criticisms focus on the consensus used by the first cryptocurrency, namely Proof of Work.
Proof of Work is a process to maintain network operation and verify the accuracy of Bitcoin transactions. However, to do this, Bitcoin exploits the computing power of machines made available by miners, which requires considerable energy and high electricity costs.
Thus, this system inscribed in the code of Bitcoin since its creation is constantly questioned. For example, with its communication campaign called “Change the code, not the climate”, the association Greenpeace Urges Bitcoin Developers and Users to Switch to a Proof-of-Stake Model (Proof of Stake). The process would theoretically make it possible to do without computing power and thus drastically reduce the environmental impact of Bitcoin, in the same way as Ethereum in 2022.
Some climate activists think #Bitcoin is just fake internet money they can safely ignore.
The truth? Bitcoin is causing dangerous amounts of real-world pollution from its ravenous consumption of fossil fuels, all due to its outdated code.
The solution? #ChangeTheCode pic.twitter.com/7wa7BMCzV5
— Greenpeace USA (@greenpeaceusa) March 23, 2023
However, it is clear that the idea of opening up Bitcoin to the possibility of mining using its treasury (as implied by the Proof of Stake) was not to the liking of those concerned for various technical and ideological.
A new solution is offered to Bitcoin
Researchers recently proposed an innovative new solution combining quantum computing and blockchain technology.
A team of researchers from Australian and American universities, in collaboration with quantum technology company BTQ, has published a research paper in which they presented a new validation model.
Called “Proof of Work consensus by quantum sampling”, it uses quantum computing techniques to validate transactions on the Bitcoin blockchain.
The key concept of this new model is boson sampling, a technique specific to quantum rules. The researchers claim that this method might be a solution to reduce the environmental impact of PoW.
According to them, this new model offers several advantages over current miners. First of all, mining Bitcoins would be much faster than with conventional machines. Moreover, it would be more energy efficient, thus reducing the electricity costs required for mining.
However, to implement it, miners would have to adopt new quantum machines, which is not currently on the streets. Also, while the proposal looks promising, it is important to note that it is still a preliminary study.
Besides, itThis alternative is not the only proposal to be studied. Other researchers are currently working on other mechanisms such as Proof of Reputation, Proof of Burn, etc.
Changing how Bitcoin works, is it possible?
Although Bitcoin has no ruler, the idea of changing the way Bitcoin works isn’t entirely outlandish since the crypto code is open-source. We must see Bitcoin as a democracy in which it is possible to establish new rules through consensus.
For this reason, the possibility of changing Bitcoin’s validation process depends on the willingness and agreement of the Bitcoin community contributing to the protocol. However, if a developer were to try it, he would have to obtain the consent of a majority of his users: the miners and the nodes of the network.
Thus, it is likely that one day quantum computing will be the answer to Bitcoin’s problems. In any case, the solution seems paradoxical since the adoption of the technology might also potentially threaten Bitcoin…
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