Chris Larsen Disavows Financial Backing for “Change the Code” Initiative
Chris Larsen, the co-founder of Ripple, has publicly disavowed any financial backing for the “Change the Code” initiative aimed at the Bitcoin network. This campaign challenges the Bitcoin community to abandon the energy-intensive proof-of-work (PoW) algorithm.
Collaboration with Greenpeace
Larsen is collaborating with Greenpeace, a well-known environmental advocacy group. In a recent statement, he highlighted:
“Bitcoin has undergone a significant shift towards cleaner energy sources, primarily relying now on renewables like hydropower, wind, and nuclear power.”
This assertion is supported by a study from the University of Cambridge, which outlines the transition to greener energy in Bitcoin mining. He also noted that waste gases which would ordinarily be flared are being utilized to sustain Bitcoin mining operations.
Ripple’s Controversies and Environmental Concerns
Ripple, headquartered in San Francisco, has recently come under scrutiny from Bitcoin enthusiasts after contributing the controversial “Satoshi Skull” sculpture to a museum dedicated to Bitcoin. This sparked criticism from some who recalled Larsen’s earlier aggressive anti-Bitcoin advertising campaigns.
Ripple’s CEO, Brad Garlinghouse, has similarly expressed concerns about Bitcoin’s environmental impact, labeling the PoW mining process as an enormous waste of resources.
Ongoing Division in the Cryptocurrency Community
Despite Larsen’s clarification, the website advocating for Bitcoin to abandon the mining method remains active, indicating continued division within the cryptocurrency community regarding this critical issue.
