Ripple co-founder Chris Larsen celebrated Earth Day with a bold proposition.
He called on the Bitcoin network to move from energy guzzling proof-of-work (PoW) to a more eco-friendly system like proof-of-stake (PoS). Since such a move would require a radical change to Bitcoin’s code, I spoke with Larsen to see how serious he is—and it turns out he’s deadly serious.
According to Larsen, the crypto industry is getting beat up by progressives, many of whom fail to understand that not all blockchains are energy-intensive like Bitcoin. He says environmentalists don’t realize that, once Ethereum switches to proof-of-stake, 40% of the industry will be low-emission. And in a plug for his own network, Larsen noted that the annual energy use of Ripple’s XRP network is akin to that of 50 American homes—versus 12 million homes for Bitcoin.
The Hard Truth About Bitcoin’s Energy Consumption
Nor does Larsen buy the argument of companies like Square that suggest Bitcoin can cope with its energy is
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