US highlights benefits of bitcoin proof-of-work

A group made up of fourteen senators and representatives of the United States, with Cynthia Lummis, bitcoiner senator at the head, have delivered a document to the Environmental Protection Agency in favor of the mining of cryptocurrencies that are based on proof of work (PoW) such as bitcoin.

For her, the fact that one technology is given priority over the other, including proof of work over proof of participation, can be a blow to innovation; and at the same time it can lead to fewer economic gains in the future, as well as the limitation of different linked efficiencies. This is reflected by Lummis herself as well as the rest of the congressmen, who have wanted highlight the benefits of bitcoin proof of work.

In this aspect, they have also indicated that they can appropriately understand the ecological impact of bitcoin mining, although an important part of the energy that is used by the miners of the main cryptocurrencies is based on sources that are renewable.

Although they accept that there may be some environmental problems due to the exploitation and use of digital assets, they believe that we cannot ignore the fact that they will have a fundamental role in responsible innovation in the future economic future of the United States. For this reason, they consider that it is essential that steps be taken to achieve the goal of greater adoption.

In this way, you could enjoy the different benefits associated with bitcoin’s proof of work, which they insist is necessary to emphasize for the economic future of the country.

Using surplus oil and gas for bitcoin mining

The United States congressmen wanted to highlight the work carried out by the company JAI Energy in the state of Wyoming, which is responsible for using the surplus oil and gas for bitcoin mining. However, it must not be forgotten that this is not a unique case in the region.

In fact, the company Highwire Energy Partners makes use of excess gas production for this same purpose, thus being an effective and profitable way. In this way, Bitcoin mining that uses gas also reduces methane emissions in other states such as Texas, Ohio or North Dakota, among others.

Congressmen who defend the use of bitcoin assure that they consider that digital assets and mining activities have benefits for the country’s economy. They also recognize that other nations are adopting cryptocurrencies and the United States cannot be left behind; especially because they attract large amounts of capital and talent with the intention of growing financial services themselves.

According to what these congressmen indicated, sectors such as blockchain and cryptocurrencies are going to be widely adopted over the coming years; and for this reason they do not want to fall behind other countries and start betting on them.

At a time of significant and frequent technological change, the US government must reaffirm its commitment to responsible innovation to ensure that future generations can continue to enjoy opportunity and greater prosperity.

In this way, in their application they seek to work on the commitment to renewable energy to bet on cryptocurrencies and the improvement of the future financial situation of the United States.