White House does not intend to prohibit Proof-of-Work Mining
A White House paper apparently recommending a ban on Proof-of-Work mining has outraged the cryptocurrency community.
Wednesday, after releasing a study on the climatological effect of blockchain technology, the White House caught the outrage of crypto believers worldwide. Crypto Briefing took the effort to study the report and determine whether or not it really proposes banning Proof-of-Work consensus techniques. This was done since it was widely reported that the report recommended banning Proof-of-Work consensus processes.
Will the White House prohibit Proof-of-Work mining? It does not seem to be the case, according to what many crypto enthusiasts have said.
The White House Office of Science and Technology Policy angered the cryptocurrency industry on Thursday when it issued a paper to help policymakers evaluate the environmental costs and advantages of blockchain technology. President Biden authorized a series of interagency policy assessments in March, the first of which is titled “Climate and Energy Implications of Crypto-Assets in the United States.”
Although the paper is comprehensive and well-researched, it has been heavily criticized by the crypto community. Social media users have reacted quickly and angrily, with critics focusing on a single passage of the 46-page document.