If you could not tell by the title already, then there had been a scheduled meet for the cryptocurrency impact on the internet. The United States government is taking care of all of this. And they are arranging a house panel for the next day. It is evident why they are doing this.
They are going to put it under scrutiny as a United States House Energy and Commerce subcommittee is all set to investigate all the matter that is there. They are going to check the effect of Cryptocurrency and its environmental impact tomorrow.
There have been a lot of complaints from environment lovers and conservationists that Bitcoin mining is causing a huge impact on the internet and not in a good way.
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The use of excess electricity and the emissions that are radiated by Bitcoin mining is causing some problems for the environment, and that is not a good thing in this already polluted world. We are really not doing so much good on environment conservation.
Remember global warming, guys? Well, Congress taking time out to address the issue and then to further investigate the impact of bitcoin and cryptocurrency mining on the environment is really a good thing.
We will definitely be happy if something is done to like limit the wasteful nature of the Bitcoin mining process. Bitcoin and Digital currency are not in a good state either. So we don’t know what this means for them, but we are hoping for the best for both parties.
“We look forward to examining crypto mining’s growing energy footprint and how proof of work blockchains, in particular, may migrate towards cleaner alternatives and renewable energy solutions,” they said in a news statement.
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That’s all for now, guys. We will keep you updated on the news. Have a good day and take care!