PayPal Promotes Green Bitcoin Mining.
PayPal is partnering with Energy Web and DMG Blockchain Solutions for sustainable Bitcoin mining, offering incentives for miners who use environmentally friendly energy. In this context, miners using low-carbon energy sources will be given special “green keys” and these miners will receive preferential treatment in transaction processing.
PayPal's proposal includes a cryptoeconomic reward mechanism called "green miners" that incentivizes the use of low-carbon energy. These miners will operate in line with environmental sustainability by processing transactions with lower fees and extra Bitcoin rewards.
Energy Web's "Green Proofs for Bitcoin" platform will certify miners' compliance with sustainability standards. This platform will allow miners to check their compliance with PayPal's incentive program by recording their environmentally friendly activities.
Tests conducted in collaboration with PayPal and DMG Blockchain Solutions showed that transactions directed to green miners were processed faster and more efficiently. Test results proved that this incentive structure is feasible on the Bitcoin network.
(It is not investment advice.)
