Bitcoin
$64,225.17+1.16%
Ethereum
$3,072.37+0.28%
Binance Coin
$559.09+1.55%
Solana
$145.94+5.08%
XRP
$0.50213612+0.48%
Toncoin
$6.34+1.22%
Dogecoin
$0.15272005+1.86%
Cardano
$0.46987614+3.71%
Shiba Inu
$0.00002284+0.45%
Avalanche
$35.35+1.48%
Wrapped Bitcoin
$64,330.43+1.02%
Tron
$0.11045594+0.93%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Consensus 2024Price Increase Extension Ends In
01
DAY
03
HR
06
MIN
24
SEC
Policy

Environmental Groups to Spend Another $1M on Ads for Bitcoin Code Change After the Merge

The "Change the Code, Not the Climate" campaign is upping its efforts following Ethereum's switch to proof of stake.

By Eliza Gkritsi
AccessTimeIconSep 15, 2022 at 2:48 p.m. UTC
Updated May 11, 2023 at 5:11 p.m. UTC
(Anne Nygard/Unsplash)
(Anne Nygard/Unsplash)
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Environmental groups pledged to spend another $1 million on online ads to pressure the Bitcoin community to change the network's code in order to reduce energy consumption.

Earlier on Thursday, the Ethereum blockchain – which underpins the world's second-largest cryptocurrency by market value– changed its consensus mechanism from proof-of-work (PoW) to proof-of-stake (PoS), doing away with the need for energy-intensive computing power. Bitcoin, a PoW network, has been facing mounting criticism over its energy use, which is on par with some small countries. These criticisms were echoed in part in a report on bitcoin mining published by the White House last week.

"Ethereum’s energy-efficient ‘merge’ leaves bitcoin as lone cryptocurrency climate polluter," wrote Environmental Working Group (EWG) in a Thursday statement, which along with Greenpeace USA, Ripple co-founder Chris Larsen and other small environmental organizations launched a campaign to change the bitcoin code earlier this year.

On top of the new ad funds, Greenpeace USA started an online petition calling on multi-trillion-dollar asset manager Fidelity Investments to help take the lead in pushing Bitcoin to switch to PoS.

Read more: The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain




Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Eliza Gkritsi
Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

Follow @egreechee on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.