How a change in code can cut Bitcoin energy consumption by 99%

Bitcoin mining uses up a lot of power -- in fact, the entire network consumes more electricity than several small nations.

With Bitcoin prices rising again, demand for the world’s most popular cryptocurrency

This has led to several fossil fuel energy plants being brought back to life at the expense of the environment

But the solution to Bitcoin’s energy problems may be something as simple as a change in the underlying blockchain code.

By switching to a 'proof-of-stake' model from a 'proof-of-work' model

Bitcoin can hope to significantly reduce energy requirements.

A new campaign called “Change the Code Not the Climate” by the Environmental Working Group, Greenpeace USA and other climate groups

The groups are asking the Bitcoin blockchain to switch from a “proof-of-work” model to a “proof-of-stake” model

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