U.S. House of Representatives to hold oversight hearing on energy consumption of cryptocurrencies on Jan. 20

Time:2022-01-15 Source: 679 views Trending Copy share

According to Decrypt’s news on January 13, the U.S. House of Representatives Energy and Commerce Committee announced that it will hold an oversight hearing on the energy consumption of cryptocurrencies on January 20.

Commission Chair Frank Pallone and Oversight and Investigations Chair Diana DeGette said in a joint statement, “In just a few short years, the popularity of cryptocurrencies has grown rapidly, and it is time to understand and address the enormous impact it is causing to our communities and the planet. Time for energy and environmental impact.

We look forward to examining the growing energy footprint of crypto mining, especially how proof-of-work blockchains (PoW) can move towards cleaner alternatives and renewable energy solutions. "

The theme of this hearing is "Cleaning Up Cryptocurrency: The Energy Impacts of Blockchains", and the focus will be on Proof of Work (PoW) represented by Bitcoin and Ethereum. ) on the blockchain.

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