PayPal has developed a platform to encourage “green miners”
The company has proposed a system to stimulate cryptocurrency mining participants with additional rewards
23.04.2024 - 09:50
180
3 min
0
What’s new? The research arm of payment company PayPal has partnered with NGO EnergyWeb to develop a platform to reward bitcoin miners for using low-carbon energy sources. The parties have also developed a concept that will increase the likelihood that participating organizations in the platform will direct onchain transactions to just such “green miners.”
What else is known? The platform will allow bitcoin mining participants to receive accreditation for low-carbon mining, with certain public keys tied to them for reward distribution.
Such “green miners” will be favored when sending on-chain transactions for processing, as they will offer a lower fee. This difference will be compensated by an additional reward in BTC locked in the multi-signature payout wallet.
The platform’s member miners will have an incentive to process such transactions, as only they will be eligible to receive the additional blocked reward.
PayPal noted that sustainability is an important topic in virtually every emerging and established industry in the world, and with this development, the parties aim to support the role of cryptocurrencies in a sustainable future.
The platform has been tested in operation by Canadian mining company DMG Blockchain Solutions.
In January, PayPal invested $6,5 million in Mesh, a platform to improve the security of digital transactions. 77% of the investment was paid in PayPal’s own stablecoins, PYUSD. Earlier, the US Securities and Exchange Commission (SEC) issued a subpoena to PayPal over the asset launch.
US president has again proposed to impose a 30% tax on mining
Last year, the head of the country proposed similar measures, but they were rejected by Congress
In April, Norway introduced a bill to regulate mining, which involves the registration of industry companies. The document aims to restrict the activities of miners because of its harm to the environment. Earlier, Paraguayan senators decided to discuss selling surplus electricity to miners instead of banning the industry.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$97 986
BTC
+4.13%
-
Ethereum
$3 352.31
ETH
+9.09%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.13
XRP
+3.78%
-
Dogecoin
$0.386567
DOGE
+3.12%
-
Cardano
$0.799531
ADA
-2.32%
-
Bitcoin Cash
$486.34
BCH
+10.99%
-
Polkadot
$5.83
DOT
+2.76%
-
Stellar XLM
$0.238678
XLM
-3.06%
-
Litecoin
$89.16
LTC
+6.29%