Alex Coin 
The legislative bill, which proposes to block new permits for cryptocurrencies that use non-renewable energy, now moves to the New York Senate.
***
La Asamblea del Estado de Nueva York, en los Estados Unidos, votó a favor de un proyecto que busca frenar la minería de criptomonedas prueba de trabajo (PoW), como Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. which uses non-renewable energy sources.
As reported byThe Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain.The bill passed with a vote tally of 95 in favor and 52 opposed Tuesday night. Introduced by first last year The new proposal, proposes a two-year moratorium on the issuance of new permits for PoW mining operations powered by carbon-based energy.
“ [The New York Department of Energy] will not approve a new application or issue a new permit… for an electric generating facility that uses a carbon-based fuel and that provides, in whole or in part, behind-the-meter electric power consumed or used by cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. operations that use proof-of-work poW is a type of consensus algorithm that rewards validators according to the amount of computational power they have expended. authentication authentication is a process that confirms a user's identity using passwords, SMS codes, fingerprints, and other forms of ownership proofs before granting access to sensitive and/or personal information. methods to validate Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. transactions “, señala el borrador del proyecto de ley, citado por CoinDesk .
It also stipulates that permit renewals will not be issued to cryptocurrency companies operating in the state that plan to increase their facilities and the amount of energy consumed. At the same time, it directs the New York State Department of Environmental Conservation (DEC) to study the impact of mining. PoW on the state’s ability to carry out its plan to reduce greenhouse gas a term used on the Ethereum platform that refers to a unit of measuring the computational effort of conducting transactions or smart contracts, or launch DApps in the Ethereum network. It is the “fuel” of the Ethereum network. *see Gas Limit and Gas Price. emissions 85% by 2050.
New York Senate will now review the proposal
The Ways and Means Committee of the New York Assembly had voted to pass the bill to the full legislative body. during a meeting Monday afternoon. The Assembly’s recent approval means it will move on to the Senate committee.
Despite the relatively limited scope of the bill, some enthusiasts in the crypto community have voiced various criticisms of the proposal, claiming that it sends a “strong message” to the crypto community. negative message ” and that it could slow the growth of the cryptocurrency industry, while potentially leading to an exodus of miners contributors to a blockchain taking part in the process of mining. They can be professional miners or organizations with large-scale operations, or hobbyists who set up mining rigs at home or in the office. from New York.
However, proponents of the bill have pointed out that neither existing cryptomining facilities, nor those harnessing renewable resources, would not be affected in the event of the bill’s official passage.
Democratic Assemblywoman Anna Kelles, the lead sponsor of the legislative bill, assured in this regard the bill would not hinder New York’s ability to be a leader in cryptocurrencies. “ This bill is not retroactive. (…) It is only specifically for power plants, of which we have about 30 in the north and about 19 in the south. “, he said.
- Bill to pause Bitcoin mining for 2 years moves forward in New York
- New York lawmakers discuss bill to curb Bitcoin mining
- New York Senate Authorizes Financial Services Department to Evaluate Crypto Companies
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash
