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15 сентября 2022
Ethereum has successfully switched to the Proof of Stake consensus algorithm. Can Bitcoin do the same?

On September 15, Ethereum switched to the Proof of Stake (PoS) consensus algorithm. Now the security of the blockchain is provided not by miners, but by validators — users who have deposited and blocked their share of coins. 

What will happen next? According to the Ethereum Foundation, PoS will reduce Ethereum energy consumption by 99.95%. The website of the international economic forum called the transition «a step towards the sustainable development of the cryptocurrency industry,» and Bank of America said that this event contributes to the institutional adoption of the asset.

Read the answers to the main questions about the Ethereum merger here.

Environmental Working Group Environmental Working Group announced the launch of an advertising campaign in the amount of $ 1 million. Its goal is to «push» bitcoin to migrate to the Proof of Stake (PoS) consensus algorithm, following the example of Ethereum. 

The probability that this will happen is negligible. Despite constant criticism from governments and activists, bitcoin is likely to remain online forever with the Proof of Work algorithm.

However, there are alternatives that allow you to engage in bitcoin ecomining — without the cost of equipment and electricity. Take, for example, Bitcoin Additional (BTCa) — a fork of bitcoin on the PoS algorithm. As in the upcoming Ethereum update, BTCa coins can be «frozen», receiving a reward for maintaining the network’s operability. Since the price of Bitcoin Additional and Bitcoin is equal to 1 to 1, it turns out ecomining of bitcoin.

Due to the increased interest of the crypto community in eco-friendly mining, projects like Bitcoin Additional will grow significantly. We are sure that against this background, the price of BTCa can break away from the price of bitcoin and fly up, becoming the most expensive cryptocurrency on the market.