{"id":572056,"date":"2022-06-04T19:49:15","date_gmt":"2022-06-04T18:49:15","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=572056"},"modified":"2022-06-04T19:49:15","modified_gmt":"2022-06-04T18:49:15","slug":"ethereums-vitalik-opposes-new-york-states-ban-on-pow-mining-suggests-carbon-pricing-as-an-alternative-solution","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereums-vitalik-opposes-new-york-states-ban-on-pow-mining-suggests-carbon-pricing-as-an-alternative-solution\/","title":{"rendered":"Ethereum’s Vitalik Opposes New York State’s Ban on PoW Mining, Suggests Carbon Pricing as an Alternative Solution"},"content":{"rendered":"
Summary:<\/p>\n
The co-founder of Ethereum, Vitalik Buterin<\/a>, has chimed in on the ongoing debate as to whether governments should ban proof-of-work mining activities based on the premise that such operations are energy-intensive.<\/p>\n According to Mr. Buterin, it is a bad idea for governments to pick and choose which specific applications should use electricity or not. He also added that carbon pricing would be a better solution as it could provide additional revenue for governments to compensate low-income electricity users.<\/p>\n Carbon pricing is the practice of regulating greenhouse gas emissions by charging a fee for emitting or offering an incentive for emitting less.<\/p>\n Vitalik’s insights on the drawbacks of banning proof-of-work operations and carbon<\/a> pricing as an alternative were shared through the following tweet.<\/p>\n Ultimately I agree with this (that is, I oppose banning PoW). The government picking and choosing which specific applications are an okay use of electricity or not is a bad idea. Better to just implement carbon pricing, and use some of the revenues to compensate low-income users. https:\/\/t.co\/NnBzmv5mYz<\/a><\/p>\n — vitalik.eth (@VitalikButerin) June 4, 2022<\/a><\/p><\/blockquote>\nGovernments Should Not Decide on the Use of Electricity. Carbon Pricing Can Offer A Solution.<\/h2>\n
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