Bitcoin: WEF Video Showcases Mining, But Omits 'B Word'
Time and again, Bitcoin has garnered criticism for using the Proof of Work consensus mechanism. Contrary to the Proof of Stake concept, Proof of Work based protocols tend to consume more energy. Now, a recent video from the World Economic Forum [WEF] showed the facilities and technology employed by a crypto-mining firm. It indicated that its operations were the “biggest winner” for the environment. However, in the video, it never actually mentioned that it was mining Bitcoin or crypto. Chase Lochmiller, the CEO and co-founder of Crusoe Energy, said in the video that it builds and operates “modular data centers” that are parallel to waste energy sources. Such a setup helps in using wasted methane streams to generate power. Elaborating on the same, Lochmiller added, “By doing that, not only do we create a massive energy reduction from this previously wasted source of energy, but we can also produce ultra-low-cost computing infrastructure by harnessing this otherwise stranded form of e...