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Bitcoin mining consumes large amounts of energy – more or less like an economy of the size of Switzerland. & Nbsp; & nbsp; And most & nbsp; comes & nbsp; dirty fossil fuels.
The future of the blockchain promises improvements through transparency, access and participation – but its current environmental balance makes many uncomfortable
Enter bitcoinClean – a Bitcoin Hardfork that incentives miners to use green energy & nbsp; and keep them honest through peer review. & Nbsp; I sat down with Walter Komarek, bitcoinClean's Cofounder, to peek into the future of a more sustainable Bitcoin.
Walter Komarek, co-founder of bitcoinClean and of the Ink Labs Foundation. Walter Komarek
Brendan Doherty: Walter is very good at getting together. So tell me, what's this bitcoinClean and how is it different than the myriad of cryptocurrency offers we see out there?
Walter Komarek : BitcoinClean is a Bitcoin Hardfork, basically another version of Bitcoin with some features we believe can help create an environmentally friendly version of Bitcoin. The main difference from Bitcoin and 99% of all cryptocurrencies is that bitcoinClean employs an innovative protocol that encourages miners to control their energy sources. Miners who do not use renewables will not be accepted by the community. Therefore all mining activities will take place with clean energy.
Doherty: What inspired you to start bitcoinClean ?
Komarek: I always try to see some steps forward. I've been in the crypt for a while and I know this world from inside. My friend Michael Marcovici, a real blockchain and passionate about Crypto, had the idea and we decided to bring this coin to the world. Michael is well known as a philanthropist in Vienna. As the world enters this new era of digital blockchain, it brings us many benefits but at the same time can risk real damage like pollution. Our idea was to link both these elements to give us the opportunity to enjoy all the benefits but in an ecological and ethical way.
Bitcoin mining machines inside the Ybbs Hydroplant river in Vienna, Austria. Walter Komarek [19659011] Doherty: What is the current impact of Bitcoins on the environment?
Komarek: The Bitcoin network is powered and kept alive by the miners and the IT resources they bring to the table. These computers, the so-called ASIC miners, currently consume over 35 hours of earthquake each year. Eighty-three percent of this electricity is produced by burning fossil fuels, mainly coal. A short time ago, a coal-fired plant in eastern Australia that was taken out of service a while ago, has been restarted to offer cheap electricity to Bitcoin miners.
The pollution caused by the Bitcoin network is currently on par with that of the country as Hungary emits for its production of electricity, or the same that produces traveling 43 trillion kilometers in a & # 39; petrol car.
Doherty: This is an intense imprint and the reopening of an Australian coal mine is particularly depressing. But overall consumption is not the same with bitcoinClean, or are you reducing it?
Komarek: The basic mode of mining remains the same. BitcoinClean can be extracted from the same Bitcoin mining equipment. The initial difficulty will be much lower, which means that at the beginning of the network a fraction of energy is used. Since miners must use renewable energy sources and choose between them, we expect the use of grid energy to grow much slower than Bitcoin, providing the same level of security.
In addition, we have increased the size of the block, which regulates the amount of transactions that can happen per second. This means: a transaction uses 1/8 of the energy used by a Bitcoin transaction, other things being equal.
There is also another interesting angle: if bitcoinClean means more demand for renewable energy, do not you think this will lead to more innovation there? See startups like Nordicblocks or Hydrominer. Hydrominer uses small hydroelectric plants to mine. These plants have passed the time they receive government subsidies and some of these plants would have been closed. Mining gives them a second life.
Nadine and Nicole Damblon, inspecting the machines at the Ybbs river hydroelectric that help the cryptocurrency with ecological hydroelectric energy. Walter Komarek
Doherty: How do you get all this forced among the miners?
Komarek: This is the heart of bitcoinClean and the true element of differentiation.
PoG stands for "Demonstration of Greenness". With bitcoinClean, each miner must be tested by his peers. They confirm their request for renewable energy.
To be verified, a miner uses a platform such as CleanMiners.com to upload documents, photos and a description of his mining operation. If other miners love what they see, they will invalidate their project and after 3-5 positive votes a miner can start his work.
PoG has some very clever design features that ensure that the evidence of a miner remains recent, as every vote counts for only about 14 months. Also, when a lot of other miners discover that an operation that once was good became sour, they could quickly rob a miner and effectively ban it from participating.
The Ybbs River Hydropowerplant. Walter Komarek
Doherty: Who do you see as a target market?
Komarek: BCL is a real alternative to other payment currencies. It has the potential to become the currency of choice for all those who want to pay and get paid while using the safest and most environmentally friendly currency on the market. It's perfect for smaller transactions, its fast and transaction fees are minimal. We have positive feedback from various sellers operating in environmentally conscious areas such as sports, yoga, donations, food, travel, fashion, books and many others. We are currently working on the integration of BCL for a large payment network for charities & nbsp;
Doherty: What was the biggest personal challenge in building this company? & Nbsp; Can you share a story?
Komarek: Well, going against the system is always a big challenge! It takes you out of your comfort zone, but we deeply believe in this idea. The business world leaves a space to take care of other people and the environment, and our biggest challenge has been to find a talented team with these shared values. I believe in bitcoinClean and instead of spending my money on a bigger house or something like that, I invested a large part of my money and my time to give life to this project.
Doherty: How can we ensure that other blockchain companies strive to serve a higher purpose than just profit?
Komarek: Happening! This is the most powerful way, giving the example and demonstrating that success can come by doing things more effectively. I hope one day it will become a new trend! & Nbsp; To build a company with your money you must be a strong supporter of what you are doing. Having a deeper purpose beyond profit alone matters, and we think other people will be inspired as we begin this new era in blockchain. We are claiming that the world of Crypto and Blockchain can give enormous value and at the same time build a better and more sustainable world. We are trying to spread the word to get a wider community of supporters.
Doherty: Is there already a chance to buy Bitcoinclean?
Komarek: Yes! We are listed as BCL on the Exrates.me and Yobit.net exchanges.
Doherty: Thank you so much for your work Walter, and for taking the time to recover.
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The mining bitcoin consumes huge amounts of energy – about as an economy the size of Switzerland and most comes from dirty fossil fuels
The future of the blockchain promises improvements through transparency, access and participation – but its current environmental balance makes many uncomfortable
Enter bitcoinClean: a Bitcoin Hardfork that encourages miners to use green energy and keep them honest through peer review. I sat down with Walter Komarek, co-founder of bitcoinClean, to peek into the future of a more sustainable Bitcoin.
Walter Komarek, co-founder of bitcoinClean and of the Ink Labs Foundation. Walter Komarek
Brendan Doherty: Walter is fantastic to reach together. So tell me, what's this bitcoinClean and how is it different than the myriad of cryptocurrency offers we see out there?
Walter Komarek : BitcoinClean is a Bitcoin Hardfork, basically another version of Bitcoin with some features we believe can help create an environmentally friendly version of Bitcoin. The main difference from Bitcoin and 99% of all cryptocurrencies is that bitcoinClean employs an innovative protocol that encourages miners to control their energy sources. Miners who do not use renewables will not be accepted by the community. So all mining will take place with clean energy.
Doherty: What inspired you to start bitcoinClean?
Komarek: I always try to see some steps forward. I've been in the crypt for a while and I know this world from inside. My friend Michael Marcovici, a real blockchain and passionate about Crypto, had the idea and we decided to bring this coin to the world. Michael is well known as a philanthropist in Vienna. As the world enters this new era of digital blockchain, it brings us many benefits but at the same time can risk real damage like pollution. Our idea was to link both these elements to give us the opportunity to enjoy all the benefits but in an ecological and ethical way.
Bitcoin mining machines inside the Ybbs Hydroplant river in Vienna, Austria. Walter Komarek [19659044] Doherty: What is the current impact of Bitcoins on the environment?
Komarek: The Bitcoin network is powered and kept alive by the miners and the IT resources they bring to the table. These computers, the so-called ASIC miners, currently consume over 35 hours of earthquake each year. Eighty-three percent of this electricity is produced by burning fossil fuels, mainly coal. A short time ago, a coal-fired plant in eastern Australia that was taken out of service a while ago, has been restarted to offer cheap electricity to Bitcoin miners.
The pollution caused by the Bitcoin network is currently on par with that of the country as Hungary emits for its production of electricity, or the same that produces traveling 43 trillion kilometers in a & # 39; petrol car.
Doherty: This is an intense imprint and the reopening of an Australian coal mine is particularly depressing. But overall consumption is not the same with bitcoinClean, or are you reducing it?
Komarek: The basic mode of mining remains the same. BitcoinClean can be extracted from the same Bitcoin mining equipment. The initial difficulty will be much lower, which means that at the beginning of the network a fraction of energy is used. Since miners must use renewable energy sources and choose between them, we expect the use of grid energy to grow much slower than Bitcoin, providing the same level of security.
In addition, we have increased the size of the block, which regulates the amount of transactions that can happen per second. This means: a transaction uses 1/8 of the energy used by a Bitcoin transaction, other things being equal.
There is also another interesting angle: if bitcoinClean means more demand for renewable energy, do not you think this will lead to more innovation there? See startups like Nordicblocks or Hydrominer. Hydrominer uses small hydro power plants for mine. These plants have passed the time they receive government subsidies and some of these plants would have been closed. Mining gives them a second life.
Nadine and Nicole Damblon, who inspect the machines at the hydropowerplant of the river Ybbs that help the cryptocurrency with ecological hydroelectric energy. Walter Komarek
Doherty: How do you get all this forced among the miners?
Komarek: This is the heart of bitcoinClean and the true element of differentiation.
PoG stands for "Demonstration of Greenness". With bitcoinClean, each miner must be tested by his peers. They confirm their request for renewable energy.
To be verified, a miner uses a platform such as CleanMiners.com to upload documents, photos and a description of his mining operation. If other miners love what they see, they will invalidate their project and after 3-5 positive votes a miner can start his work.
PoG has some very clever design features that ensure that the evidence of a miner remains recent, as every vote counts for only about 14 months. Moreover, when a lot of other miners discover that an operation that was once good became acidic, they could quickly rob a miner and effectively ban it from participation.
The Ybbs River Hydropowerplant. Walter Komarek
Doherty: Who do you see as a target market?
Komarek: BCL is a real alternative to other payment currencies. It has the potential to become the currency of choice for all those who want to pay and get paid while using the safest and most environmentally friendly currency on the market. It's perfect for smaller transactions, its fast and transaction fees are minimal. We have positive feedback from various sellers operating in environmentally conscious areas such as sports, yoga, donations, food, travel, fashion, books and many others. We are currently working on the integration of BCL for a large payment network for charities.
Doherty: What was the biggest personal challenge in building this company? Can you share a story?
Komarek: Well, going against the system is always a big challenge! It takes you out of your comfort zone but we deeply believe in this idea. The business world leaves a space to take care of other people and the environment, and our biggest challenge has been to find a talented team with these shared values. I believe in bitcoinClean and instead of spending my money on a bigger house or something like that, I invested a large part of my money and my time to give life to this project.
Doherty: How can we ensure that other blockchain companies strive to serve a higher purpose than just profit?
Komarek: Happening! This is the most powerful way, giving the example and demonstrating that success can come by doing things more effectively. I hope one day it will become a new trend! To build a company with your money you must be a strong supporter of what you are doing. Having a deeper purpose beyond profit alone matters, and we think other people will be inspired as we begin this new era in blockchain. We are claiming that the world of Crypto and Blockchain can give enormous value and at the same time build a better and more sustainable world. We are trying to spread the word to get a wider community of supporters.
Doherty: Is there already a chance to buy Bitcoinclean?
Komarek: Yes! We are listed as BCL on the Exrates.me and Yobit.net exchanges.
Doherty: Thank you so much for your work Walter, and for taking the time to recover.
