EU Markets Regulator Calls for Ban on Proof-of-Work Crypto Mining: Report

Proof-of-work crypto mining should beryllium banned successful the European Union (EU), according to the vice seat of the European Securities and Markets Authority (ESMA).

• "The solution is to prohibition proof-of-work," helium said. "Proof-of-stake has a importantly little vigor profile."

• The proof-of-work exemplary involves miners utilizing scores of almighty computers to lick analyzable mathematical problems successful bid to grounds transactions connected the blockchain an beryllium rewarded with caller coins. The world's largest 2 cryptocurrencies - bitcoin and ether - some usage this model.

• Proof-of-stake mining is little vigor intensive successful that users triumph the close to grounds transactions based connected however overmuch concern - oregon "stake" - they person successful the network. Ether has plans to migrate to a proof-of-stake exemplary aboriginal this year.