Anatoly Yakovenko, co-founder of the Solana cryptocurrency project, announced that the first Bitcoin cryptocurrency should switch to the Proof-of-Stake consensus algorithm (proof of ownership). In his opinion, this would make digital gold a real contender for the title of world reserve currency.
According to Yakovenko, the main problem of mistrust towards virtual currency is the fact that its mining causes significant damage to the environment. In an interview with CNBC’s Keith Rooney, Yakovenko assured that if bitcoin does not move to proof-of-stake, then this could be detrimental to the entire cryptocurrency industry.
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In his opinion, the impact of mining bitcoin on the environment is one of the factors affecting the supply and demand of cryptocurrencies. He added that, in addition to the environmental impact, the transition to PoS will be a more efficient solution from a technical point of view. This will increase the security level of the blockchain, and hence the trust of users.
Yakovenko noted that the nature of BTC as a cryptocurrency explains the reason why the network does not have a thriving second-tier ecosystem. Bitcoin simply plays the role of an asset for savings, but global changes may occur in the next decade, according to the entrepreneur.
Former co-founder Solana called his project one of the most efficient due to high transaction speed and performance. In his opinion, this network can become the leader in the blockchain space.
Earlier edition informed that on January 7, 2022, it became known that another failure occurred in the Solana network, which seriously affected performance. This happened for the second time in one week, which caused great concern among users. In total, this was the fourth such incident in several months.