- Greenpeace has stopped accepting Bitcoin donations.
- Bitcoin has been facing bad press due to its PoW protocol energy use.
- However, Bitcoin supporters remain convinced they can make Bitcoin greener.
Greenpeace, an environmentally-focused NGO, has stopped accepting Bitcoin (BTC) donations. The NGO cited Bitcoin’s adverse impact on the environment as the reason behind the decision.
Notably, Greenpeace was an early crypto adopter having started accepting BTC donations as early as 2014. Thus, this made Greenpeace one of the first NGOs to accept crypto donations. However, as Bitcoin is increasingly facing backlash for its energy consumption, the NGO has reevaluated its position.
In fact, Bitcoin has come under fire, not because it is a cryptocurrency, but because of the consensus protocol that runs the blockchain. Bitcoin utilizes a protocol called Proof of Work (PoW). Although PoW is one of the most accurate and secure protocols, it has a downside. The PoW con is that it is slow and consumes a lot of power.
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This article was first published on coinquora.com
